Here is what you need to know on Tuesday, February 13:
Following another day of indecisive action on Monday, currency markets' attention shifts to January Consumer Price Index data from the US on Tuesday. ZEW Survey results from Germany will also be looked upon for fresh impetus during the European trading hours and OPEC will release its Monthly Market Report.
The US Dollar (USD) Index continues to fluctuate in a narrow band above 104.00 early Tuesday. Annual inflation in the US is forecast to softento 2.9% from 3.4% in December. On a monthly basis, the CPI and the core CPI are expected to rise 0.2% and 0.3%, respectively. Ahead of the key inflation data, US stock index futures trade marginally lower and the benchmark 10-year US Treasury bond yield stays near 4.2%.
US CPI data Forecast: Core inflation to edge down to 3.8% and headline to 3.0% according to economists.
The UK's Office for National Statistics (ONS) reported early Tuesday that the ILO Unemployment Rate declined to 3.8% in the three months to December from 4.2%. This reading came in below the market expectation of 4%. Other details of the jobs report showed that the annual wage inflation, as measured by the change in the Average Earnings Excluding Bonus, softened to 6.2% from 6.7% in the same period. GBP/USD gained traction and climbed to the 1.2650 area in the early European session.
The annual CPI in Switzerland rose 1.3% in January, down from the market expectation and December's increase of 1.7%. The initial reaction weighed on the Swiss Franc and USD/CHF was last seen rising nearly 0.5% on the day at around 0.8800.
US Dollar price today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.04% | -0.20% | -0.01% | 0.16% | 0.10% | 0.36% | 0.39% | |
| EUR | -0.04% | -0.24% | -0.05% | 0.11% | 0.07% | 0.33% | 0.35% | |
| GBP | 0.19% | 0.23% | 0.18% | 0.37% | 0.32% | 0.58% | 0.60% | |
| CAD | 0.01% | 0.05% | -0.19% | 0.14% | 0.12% | 0.37% | 0.40% | |
| AUD | -0.16% | -0.14% | -0.37% | -0.18% | -0.08% | 0.22% | 0.30% | |
| JPY | -0.09% | -0.05% | -0.30% | -0.10% | 0.06% | 0.29% | 0.35% | |
| NZD | -0.36% | -0.33% | -0.56% | -0.37% | -0.21% | -0.26% | 0.04% | |
| CHF | -0.40% | -0.41% | -0.60% | -0.45% | -0.30% | -0.35% | -0.05% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
After closing the first trading day of the week virtually unchanged, EUR/USD continues to move up and down in a tight range below 1.0800 early Tuesday.
USD/JPY registered small gains on Monday and continued to push higher during the Asian trading hours on Tuesday. At the time of press, the pair was trading at its highest level since late November above 149.50.
Gold closed the third consecutive trading day in negative territory on Monday, pressured by rising US T-bond yields. In the European morning, XAU/USD stages a correction and trades modestly higher on the day above $2,020.
Feed news
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
