- No surprises from the BOJ minutes
- NZ business manufacturing index at 56.2 vs. 56.3 previous
- Nikkei closes down by 3.3% at 14,327.66
The major currencies visited Snoozeville during the Asian session after showing volatility during the U.S. session. Major pairs like EUR/USD and GBP/USD got showed tight price action while the yen crosses also traded on 30-50-pip ranges. Even concerns in China and Ukraine as well as weak Asian equities performance only cost comdolls like the Aussie and Kiwi about 20 pips against the Greenback.
Let’s see if we could get more volatility from today’s reports. At 7:00 am GMT we’ll see Germany’s final inflation numbers, which will be followed by Switzerland’s PPI report at 8:15 am GMT. Both reports are expected to print higher numbers than last month.
The biggest possible mover for the coming trading session is the U.K. trade balance numbers. The report has been re-scheduled twice for accuracy purposes, so traders might pay closer attention to the data to see what’s up. Analysts are expecting an 8.6 billion GBP trade deficit for the month of January, a bit lower than December’s 8.7 billion GBP figure.
Last but definitely not the least among the European session reports on tap is the euro zone’s quarterly employment change and the U.K.’s CB leading index at 10:00 am GMT. Both reports aren’t expected to diverge much from its previous releases but keep an eye out in case they cause volatility among the euro and pound pairs!
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!