The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against its six major peers, maintains its ground around 106.50 during the early European hours on Friday.
Here is what you need to know on Friday, February 21: The action in financial markets quiets down on Friday as investors await preliminary February Manufacturing and Services Purchasing Managers' Index (PMI) data from Germany, the Eurozone, the UK and the US.
The United Kingdom (UK) Retail Sales rebounded 1.7% month-on-month (MoM) in January after falling 0.6% in December, the latest data published by the Office for National Statistics (ONS) showed Friday.
The AUD/JPY cross builds on the previous day's late bounce from the 95.35-95.30 area, or over a one-week low, and gains strong positive traction during the Asian session on Friday.
Gold price (XAU/USD) attracts some sellers in the vicinity of the $2,950 level during the Asian session on Friday and moves away from the all-time peak touched the previous day.
Silver price (XAG/USD) remains under pressure after gaining in the previous session, trading around $32.90 per troy ounce during Asian trading hours on Friday.
West Texas Intermediate (WTI) US Crude Oil prices oscillate in a narrow trading range band during the Asian session on Friday and consolidate gains registered over the past four days.
The Japanese Yen (JPY) attracts some sellers on Friday in reaction to comments from Japan's Finance Minister, Katsunobu Kato, saying that higher long-term rates can pressure Japan's fiscal situation.
Reserve Bank of New Zealand (RBNZ) Chief Economist Paul Conway noted on Friday, “Official Cash Rate (OCR) forecasts indicate another 75 basis points (bps) easing.” Additional quotes New Zealand Dollar (NZD) drop will boost export revenues.
Bank of Japan (BoJ) Governor Kazuo Ueda said on Friday that “from a long-term perspective, rising interest rates will help improve financial institutions' profits.” Additional quotes BoJ’s massive monetary easing, including yield curve control (YCC), was a necessary process towards achieving our price target.
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