Janet Yellen testimony and German CPI data to be key highlights in the FX markets today
City Index February 27, 2014 2:10 PM
<p>The rain is back in the UK as the dollar trades with a safe haven bias and global good news is seemingly at an absolute […]</p>
The rain is back in the UK as the dollar trades with a safe haven bias and global good news is seemingly at an absolute premium. The CNY and CNY are both trading lower than the PBOC benchmark rebalancing level as market threats over a slowdown in the region as regional banks still look to drain liquidity. Concerns in Ukraine are building as Russia confirms that they have put fighter jets on alert on the Ukrainian border. There are reports that armed Ukrainians are seizing government buildings in Crimea flying the Russian flag. US Secretary of State John Kerry has warned Russia on any intervention.
In other news the Australian capital expenditure data disappointed, printing -5.2% versus the consensus forecast of -1.3% as across the Tasman, New Zealand released its trade data, showing further increases in exports to China.
German CPI data will be the focus this morning ahead of Fed Chairwomen Janet Yellen’s testimony to the senate where most expect her to remain optimistic and stick to the statement she made before the House senate two weeks ago. Any change in relation to her assessment of the slowing data and the weather distortion will be seen as major shift in stance.
Supports 1.3620-1.3580-1.3500 | Resistance 1.3710-1.3750-1.3780
Supports 102.15-101.75-101.45 | Resistance 102.80-103.00-103.50
Supports 1.6540-1.6500-1.6470 | Resistance 1.6700-1.6745-1.6800
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