FxPro Daily Insight for February 17

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Market overview

Global markets fluctuate slightly on Monday, as some US markets closed due Presidential Day observation. Singapore and Canadian dollars add slightly to USD. On FX, commodity-related RUB, ZAR, NOK losing more than 0.3% today due to fears of falling China’s demand.

EURUSD has remained near its lows since 2017 around 1.0840, while the dollar index is testing its 2019th peak levels above 99.00. Its breakdown may open the way to the 2016-2017 highs at 103.00. Gold in euros updated historic highs (1460), against the dollar it remains at 7-year peaks above $1580 per ounce.

On Tuesday, market focus will turn to the RBA meeting minutes (AUD), UK employment data (GBP) and Germany Economic Sentiment from ZEW (EUR).

Important events, GMT (Exp.):
Monday US Presidents Day
23:30 AU !!! RBA Monetary Policy Meeting Minutes
09:30 UK !! Claimant Count Change (22.6K)
13:30 Ge !! ZEW Economic Sentiment (20.0)

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