Quiet session ahead of Fed chair, Janet Yellen, speech

<p>A pretty quiet session overnight leaves us at the same levels as yesterday. The Aussie has given back some of its gains after the RBA […]</p>

A pretty quiet session overnight leaves us at the same levels as yesterday.

The Aussie has given back some of its gains after the RBA minutes, which supported the economy but strong retail sales from yesterday seemed to have given USD the strength to carry on through the night.

Today’s events could get this market moving but only if we see some unexpected data. To start things off we have the UK CPI data, expected in at 1.6%. This is a 0.1% drop from the previous figure.

Then not long after, the German ZEW will be released and is expected roughly the same as last time at 46.3.

In the US, the core CPI will be released and we are expecting no change here at 0.1%.

Following on from there, comments from Fed chair, Janet Yellen, could be the one to watch for in this very quiet week so far.

Overnight data could also have some effect, with the NZD CPI expected to be at 0.5% from the previous 0.1%, and then the Chinese GDP expected to fall to 7.4% from a previous reading of 7.7%.

So a lot of key data from around the world expected today and tonight, which will hopefully get us moving.

EUR/USD

Supports 1.3795 1.3770 1.3740 | Resistance 1.3850 1.3880 1.3900

 

USD/JPY

Supports 101.60 101.20 101.00 | Resistance 102.20 102.40 102.80

 



GBP/USD

Supports 1.6700 1.6675 1.6655 | Resistance 1.6750 1.6770 1.6795

 

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