ASIA ROUNDUP:
UP NEXT:
- German Business Climate has edged lower for the last 2-months from its 3-year highs but still remains positive above 100. The forecast is lower, with any readings above 110.20 providing support for EUR.
- UK Inflation Report Hearing will attract a lot of attention from traders seeking clues to the UK's timing of an interest rate hike. Carney stated last month the market should expect rises 'sooner than later' to only confuse the market when the voting members still unanimously voted to keep asset purchases and interest rates the same (as they expect at least some of the members to become more Hawkish). The hearing may last a few hours, but volatility is usually experienced so definitely something to be aware of.
- US New Homes Sales is a volatile release (as it is a % change) but take note that yesterday we saw increased Existing Home sales. If New Homes also come in positive this provides a broader picture for positive housing, but also new housing is also considered a leading indicator for construction work and employment data.
EUR/USD: Intraday bullish bias above weekly and daily pivot points
AUD/USD: Intraday bear-flag targets daily pivot; Overall bias remains bullish