Feb. 10: FOREX NEWS
FXBAZOOKA.com - EUR/USD is consolidating above 1.1300 after dipping to 1.1270 on Monday. The market players await the meeting of the euro area’s finance ministers on Wednesday.
Chinese consumer inflation hit a 5-year minimum, encouraging hopes that the nation will increase monetary stimulus. Commodity currencies were supported by such expectations as well as by the notional bottoming-out of oil prices. AUD/USD edged up to 0.7840. NZD/USD rose t o0.7440. USD/CAD slid a bit to 1.2450.
USD/JPY is trading slightly on the downside after it failed to break above the resistance at 119.30 yesterday. Concerns about Greece deteriorate the market’s risk sentiment increasing demand for safe haven Japanese yen.
Here are the main events to watch today: