FX took a back seat among volatility elsewhere – FXStreet

FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that it was another dull day across the forex board, as majors lacked directional conviction, despite there were plenty of action among equities and commodities, and the release of several macroeconomic figures.

Key Quotes:

“Germany released its wholesale price index, down by 1.0% in December 2015 compared to a year before, whilst monthly basis declined by 0.8%. Also, the ECB released the Minutes of its latest meeting, showing that some members of the government council were looking for a bigger cut in the key interest rate up to 20 basis point.”

“The news were generally EUR negative, but the currency moved in respect of stocks and nothing else. The calendar will be a bit more interesting in the US this Friday, with the release of Retail sales figures for December, and the latest PPI readings, alongside with Michigan consumer’s sentiment and some industrial data, which may set the tone for the upcoming week.”

Valeria Bednarik, chief analyst at FXStreet explained that it was another dull day across the forex board, as majors lacked directional conviction, despite there were plenty of action among equities and commodities, and the release of several macroeconomic figures.

(Market News Provided by FXstreet)