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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Good morning,
Today sees the first yawnathon of the year. Until the Chinese inflation numbers in the early hours of tomorrow the scheduled news is all about speeches. First out of the traps is the ECB's President, Christine Lagarde followed by the FED's Jerome Powell and finishing with the Bank of Japans Governor, Haruhiko Kuroda. All of these pieces of information could be the driver of rate changes today.
Other than that the GBP/EUR rate remains in the ongoing battle against resistance. What seems to be holding it at this post Omicron level is the belief that the Bank of England will raise interest rates again in early February. Any changes to these two underpins could cause either the breakout or a quick drop.
Interestingly there seems to be a similar resistance zone for the GBP/USD rate at the moment too. The rate is mid way in the longer term range, but seems to have found a top in the short term range. Bit of a coin toss as to which direction the rate might go next.
Against the other majors such as the Australian Dollar, Japanese Yen, Canadian Dollar and Swedish Krona the message is much the same. The rates seem to have found a level and there's not much indication in short term direction.
Besides the scheduled financial data it seems it's more about interest rate decisions again and countries response and potential loosening of restrictions around Covid that will be the big movers.
As ever we look forward to keeping you in the loop and look out for our next update.
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Today’s Economic Calendar
EUR: 10:20 ECB President Lagarde's speech
US: 15:00 FED Powell testifies
JPN: 01:00 Wednesday BoJ Kuroda speech
CHN: 01:30 Wednesday Inflation Data
