Cable and Euro climbing upwards!

Another mixed session for the dollar as it was weaker versus the cable and euro but strong against the yen. The Chicago PMI surprised to the upside yesterday whereas the pending home sales dropped more than consensus. Personal income increased for January, while personal spending decreased.

Euro moved higher towards 1.3860, but formed a double top around the 1.3850 level. Eurozone CPI came down slightly to -0.7 m/m and 2.3% y/y.

The Aussie followed the euro last night as equities made a comeback after profit-taking last week. RBA rate decision can in line with consensus with no changes in the rate.

Sterling too closed yesterday’s session at a high of 1.7279 and has been ranging between the 1.6270 and 1.6300 region (looks like a strong resistance here).

Data Today

UK Nationwide houseprice – 7am GMT

UK manufacturing PMI – 9.30 am GMT

Eurozone Manufacturing PMI – 9 am GMT

German Unemployment – 8.55am GMT

Eurozone CPI estimate – 10am GMT

US ISM Manufacturing PMI – 3pm GMT