Morning Report February 24, 2014

ForexCT's Morning Briefing for 24 February 2014
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Headlines

ECB Draghi eyes Euro inflation
  • Drahgi: "ECB ready to act if inflation outlook deteriorates" - all eyes on Eurozone inflation tonight
  • AUDUSD continues to lack momentum above 0.8925
  • The USDJPY continues to push higher as the Greenback comes back into favour across the board
  • The British Pound flailed as January retail sales disappoint; GBPUSD falls 120 points
  • Gold resumes its move higher; Oil tumbles
  • US equities fall; Dow down 29 points
  • Tonight see's Euro-zone inflation at 9 pm AEDT

Chart of the day

AUDNZD

After a month of competitive gains the AUD seems to be lacking upward momentum across a number of currency pairs, indicating the recent reversal may be coming to an end.

Traders should be keeping a keen eye out for the resumption of the long-term Australian Dollar decline, a move encouraged by the RBA.

Key event risk for the pair this week includes NZ inflation expectations on Tuesday and Australian CAPEX on Thursday.
 

Today's Events

 
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Posted: 2014/2/24 8:19:28