Amongst the market movers this morning we see the JPY garnering signifcant support amongst its peers. The USD on the other side was a loser across the board. It Looks like the USD is entering its fourth consecutive daily decline this week. US Dollar index is currently at 88.91 after its attempts to take on 90 levels last week were short lived.
Yesterday US CPI Y/Y for January was stronger than expected but Advanced Retail Sales for the same month came in softer than expected.
USDJPY is making fresh lows, with the currency pair attaining 106.30 earlier today. These levels mark the lowest levels seen since November 2016.
EURUSD is up to 1.2460 at the time of writing, next daily resistance to the upside is 1.2660.
Later today we are expecting EZ trade Balance, US Empire Manufacturing, Industrial Production and US Weekly Jobless claims amongst others. None of these data is expected to have high market impact.
