Greenback Remains Strong, Australian Dollar Soft

Market Reviews

The greenback remains the firmest among all but it’s tightened inside of established diapason. Japanese Yen and Pound follow suit. Loonie is weak and it’s expecting the CPI release for additional boost.

Jan Smets (ECB Governing Council member) claimed Central Banks should monitor the volatility at the exchange rate market very carefully. Concerning euro’s strength, the ECB Governing Council member noted: "only if, as we said last time after our monetary policy meeting in Frankfurt, this volatility becomes excessive, when certain levels are breached because of overshooting, because of a devaluation policy to increase competitiveness, can problems occur."

New Zealand retail sales grew 1.7% qoq in the fourth quarter. Japanese national core Consumer Price Index remained at 0.9% yoy and corporate service price lifted 0.7% yoy last month. Today, Germany publishes final Gross Domestic Product, Eurozone features Consumer Price Index and Canada presents Consumer Price Index.