NZDUSD stays rangebound ahead of the RBNZ decision: traders expect no change to the OCROil prices in the spotlight ahead of the second round of US-Iran nuclear talks in GenevaSilver’s faltering recovery last week not a good early signIt’s a big week for the British Pound as major UK economic data loomEUR/USD still caught meandering after post-payrolls drop last weekMarket outlook for the week of 16th-20th FebruaryUSDJPY consolidates at a major trendline as traders await new catalysts for directionBOJ governor Ueda says had regular information exchange with Japan prime minister TakaichiSwiss economy estimated to grow by 1.4% overall in 2025What are the main events for today?Structural selling in the dollar more likely to come from Europe – BofAFX option expiries for 16 February 10am New York cutDollar rebalancing theme to remain in focus this week – Credit AgricoleReminder: US markets are closed today
It’s been a very boring session amid lack of news and data releases. The US holiday isn’t helping either as the price action in the markets has been mostly rangebound as traders are still digesting last week’s US data. Overall, the bigger picture hasn’t changed as we’re seeing improvements in the US labour market without a re-acceleration in inflation.
This week, we have a pretty empty calendar in terms of major data releases but Friday is going to be a big day as we get the Flash US PMIs, the US Q4 GDP and a potential US Supreme Court decision on Trump’s tariffs. Until then, we might just keep on consolidating unless we get some other catalyst in the meantime.
In the US session, we have only the Canadian housing starts data which isn’t going to change anything for the BoC, so the market reaction will likely be muted.
This article was written by Giuseppe Dellamotta at investinglive.com.