Currency Analyst since 2010

Feb. 21: European session

EUR/USD remains calm just above $1.3700, but below resistance in the $1.3740 area. No data from the euro area today.

GBP/USD initially fell to $1.6610, but then managed to return to the $1.6670/90 area. British retail sales fell by 1.5% in January: (forecast: -0.9%). That’s the biggest decline since April 2009. Note, however, that over the last twelve months, sales expanded by 4.3%, so the general trend’s towards improvement. Public sector net borrowing didn’t contract as much as expected.

There will be a bunch of important figures from Canada at 13:30 GMT (retail sales and inflation) and US existing home sales at 15:00 GMT.

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