Can the dollar sustain is uptrend? Here are catalysts that could change the tides for the Greenback!
- The Federal Open Market Committee meeting minutes (Feb 19, 7:00 pm GMT) could provide clues on what members think about the balance sheet, inflation trends, Coronavirus threats, and other downside risks
- FOMC member Neil Kashkari (Feb 18, 7:00 pm GMT) will give a speech in Minnesota
- FOMC member Loretta Mester (Feb 19, 1:30 pm GMT) will be in a forum in Philadelphia
- Kashkari will return with another speech in Minnesota (Feb 20, 4:45 pm GMT)
- FOMC member Robert Kaplan (Feb 19, 6:30 pm GMT) will give a speech titled “View from the Fed” in Dallas
- FOMC member Lael Brainard (Feb 21, 3:15 pm GMT) will discuss monetary policy for the next recession in New York
- FOMC member Richard Clarida (Feb 21, 6:30 pm GMT) will participate in a panel discussion in New York
Markit manufacturing PMIs
- Markit’s manufacturing PMI is seen at 51.5 after printing at 51.9 in January
- The services PMI could improve from 53.3 to 53.5 in February
- Keep an eye out for their employment components, which could factor in the next NFP release
Can the dollar sustain its uptrend?
- Risk aversion and a strong U.S. equities market have boosted USD demand for most of February
- Will we see retracements or reversals this week?
- Stochastic has flagged USD as “overbought” against EUR, JPY, and CHF on the daily time frame
- USD/CHF is “bearish but weakening” with the longer-term SMAs and “bullish” on the shorter-term SMAs. Watch out for possible retracements or reversals