Forex Today: Markets are indecisive ahead of German inflation and US PMI data – by eren_fxstreet Currencies Majors Macroeconomics Commodities CryptoCurrencies
The US Dollar struggles to find demand early Wednesday following Tuesday's modest rebound. Upbeat macroeconomic data releases from China seem to be helping the market mood improve but investors refrain from committing to large positions ahead of German inflation data and the ISM's February Manufacturing PMI mid-week.The Conference Board announced on Tuesday that the Consumer Confidence Index declined to 102.9 in February from 106.0 in January.
Statistics Canada reported on Tuesday that the Canadian economy stagnated in the fourth quarter with the real GDP coming in at 0% and missing the market expectation for an expansion of 1.5% by a wide margin.gained traction after the disappointing GDP data and registered its highest daily close since early January above 1.3600. The pair stages a technical correction early Wednesday but manages to hold near 1.3600.edged lower on Tuesday but regained its traction early Wednesday.
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