12 February 2017 - Daily Brief


Yesterday the pound and many other currencies strengthened against the US dollar. Currently the pair is trading at 1.2277. Today it is likely to be a continuation of the upward movement.

Just yesterday the volume of industrial production came out, and it is much better than the forecast: 2.1% vs. 0.8% expected. The British currency has every reason to continue growing. Today important economic news doesn't come out.


Yesterday Trump's performance led to the collapse of the USD. The new president has not given up on his promises regarding the review of trade relations with key economic partners. Yesterday Euro also strengthened against the US dollar, but gains for this pair is unlikely to continue for long. At the first sign of weakness you can sell the pair EUR / USD. Today comes out the volume of industrial production of the EU and the performance of the ECB. It is possible that at the meeting of the ECB the imminent rise in interest rates might be announced, in this case the pair will be holding to a level of 1.07-08.


Yesterday the Japanese Yen also strengthened its position against the USD. The pair is now at the level of 114.05 on their local minimum, and came to a good support. It is possible that the JPY will stop here for some time. Then you can look for opportunities to buy from 114.05-113.80 area.


Oil continues to trade in the range of $ 52. Yesterday the US reserves of crude oil came out: 4.1 million versus 1.1 million expected. The price of black gold has not reacted on the data with the fall. As we wrote earlier, a fair price for crude oil is $ 52-53. In this range the price will remain until new comments go out from the main oil earners.