Here is what you need to know on Wednesday, February 5: After weakening against its major rivals on improving risk mood and disappointing US data on Tuesday, the US Dollar (USD) struggles to hold its ground early Wednesday.
Here is what you need to know on Wednesday, February 5: After weakening against its major rivals on improving risk mood and disappointing USdata on Tuesday, the US Dollar struggles to hold its ground early Wednesday. Later in the session, the US economic calendar will feature ADP Employment Change and ISM Services Purchasing Managers Index data for January. Investors will continue to scrutinize comments from central bank officials throughout the day as well.
GBP/USD closed in positive territory for the second consecutive day on Tuesday. The pair stays relatively quiet and fluctuates in a tight channel below 1.2500 in the European morning on Wednesday. The Unemployment Rate in New Zealand rose to 5.1% in the fourth-quarter from 4.8% in the third quarter, Statistics New Zealand reported on Wednesday. This reading came in line with the market expectation and failed to trigger a noticeable market reaction.
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