The dollar index reversed to decline, losing 0.5% on Wednesday after a jump of 1.5% a day earlier. A 50-point BoE interest rate cut did not have a lasting effect as GBPUSD has been adding 0.2% since the start of the day. Commodity-linked ZAR, RUB, CAD are losing ground, again. Safe-heavens JPY, EUR, CHF, as well as China-tightened NZD, AUD are leading in strengthening against the USD.
From the day start, Gold grew from $1650 area to $1670.
Brent returned to decline after touching the $40 at the beginning of the day. Russia and Saudi Arabia muscle game (who can supply more energy), cripples Crude’s attempts to turn to growth.
Important events, GMT (Exp.):
12:30 US !!! Consumer Price Index, Feb (2.2% y/y)
14:00 US !! Treasury Secretary Mnuchin Speaks
12:45 EA !!! ECB Interest Rate Decision (0.0%)
13:30 EA !!! ECB Press Conference