Europe’s single currency glided to a fourth consecutive weekly loss vs. the buck in recent trade, as sellers strengthened their grip south of long-standing channel resistance, drawn from the high 1.1569.
Relatively subdued, sterling mildly dipped lower Thursday and refreshed daily lows around the 1.31 mark. As the market assesses the possibility of a BoE rate cut, focus shifts to todays UK flash PMI metrics, with consensus forecasting a rise across the board.
Please note that with the upcoming Chinese Lunar Year Celebrations, IC Markets’ Trading Schedule will see temporary changes.
The US dollar continued to flourish against its major G10 peers Friday, crossing last Friday’s pre-NFP high of 97.58 (US dollar index). The greenback caught tailwinds from stronger-than-expected housing starts data, though largely ignored disappointing industrial production, mixed UoM (consumer sentiment) and US Treasury yields fading daily highs of 1.851%.
Please note that in observance of the upcoming Martin Luther King Day on Monday 20th January 2020, there will be temporary changes to IC Markets’ trading schedule.
