Home Article Market News BIAS FOR EACH CURRENCY ON 19 FEBRUARY 2021

BIAS FOR EACH CURRENCY ON 19 FEBRUARY 2021

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🇺🇸 USD – BEARISH
1️⃣ Mounting concerns over the strength of the US economic recovery.
2️⃣ Initial claims unexpectedly rose to a 4-week high of 861K in the latest week.

🇬🇧 GBP – BULLISH
1️⃣ Hopes that the UK could ease lockdowns sooner than expected due to the country’s fast deployment of Covid-19 vaccines.
2️⃣ British inflation rose a little more than expected in January.
3️⃣ The pound has also been supported this year by lessening expectations of negative interest rates and a post-Brexit trade deal with the EU.

🇪🇺 EUR – BULLISH
1️⃣ The ECB policy meeting minutes showed officials agreed that headline inflation was at a very low level and that it continued to be distant from the central bank’s target.
2️⃣ The IHS Markit Euro Area Manufacturing PMI jumped to 57.7 in February of 2021 from 54.8 in January, beating forecasts of 54.3, a preliminary estimates showed.

🇳🇿 NZD – BULLISH
1️⃣ The yield on a ten-year NZ government bond climbed above 1.5% having started the year at just 1%.
2️⃣ The first batch of Covid-19 vaccines has been administered at the Auckland quarantine facility, marking the “beginning of the end of the pandemic in New Zealand”.
3️⃣ Producer input prices remained unchanged on a quarterly basis, dropping from a 0.6% increase in the prior period, while output prices rose 0.4%, mainly nudged by a 2.7% increase in prices of dairy cattle farming.

🇨🇦 CAD – BEARISH
1️⃣ Declining crude oil prices undermined the CAD.

🇦🇺 AUD – BULLISH
1️⃣ Australia’s seasonally adjusted unemployment rate fell to 6.4% in January, the lowest jobless rate since April as the economy continued its rebound from the coronavirus pandemic.

🇯🇵 JPY – BEARISH
1️⃣ The yield on the benchmark US 10-year Treasury note remained around 1.3% on Friday, close to near 1-year high of 1.33% touched on Wednesday.
2️⃣ Risk-on tone weighing on the safe-haven JPY.

🇨🇭 CHF – BEARISH
1️⃣ Risk-on tone weighing on the safe-haven CHF.

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