New York Session – February 8, 2012 4:13 PM

The buck traded slightly firmer today but remains vulnerable to event risk ahead of key central bank meetings tomorrow and as details emerge regarding a Greek debt and austerity deal. The USD is also showing technical signs of weakness as the Dollar Index trades below the 100-day sma. It was a relatively quiet day in the FX markets as prices consolidated ahead of tomorrow’s BoE and ECB meetings. There was little economic data released out of North America with the only data of note being weekly U.S. MBA mortgage applications which rose 7.5% (prior -2.9%) and Canada’s January housing starts which declined slightly to 197.9k from the prior 199.9k. The Loonie is weaker with USD/CAD retesting the 200-day SMA as resistance. Full text »

del.icio.us | Technorati | Stumble It!