Earlier today, the Australian dollar moved lower against its U.S. counterpart as the combination of news that the central bank kept rates at a record low 2% and disappointing Chinese data (China's Caixin PMI dropped to 4, the manufacturing PMI fell to 49 and the non-manufacturing PMI slipped to 52.7, missing analysts’ forecasts) weighed on investors’ sentiment. Thanks to this downswing, the exchange rate verified earlier breakdown. What’s next?

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Earlier today, official date showed that the euro zone’s consumer price inflation declined by 0.2% this month, while core CPI (without food, energy, alcohol, and tobacco costs) increased below forecasts, which pushed the euro lower against the greenback. What happened at the same time with our other currency pairs?

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Although the U.S. Department of Labor reported that the number of initial jobless claims in the week ending February 20 increased by 10,000 (missing analysts expectations), the U.S. Commerce Department showed that total durable goods orders increased by 4.9% last month and core durable goods orders (without volatile transportation items) rose by 1.8%, beating forecasts. Thanks to these mixed data, the greenback wavered around 97.50 yesterday. Will today’s GDP numbers support the U.S. currency? Before we know the answer to this question, let’s check the current picture of the euro, Canadian dollar and Swiss franc.

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Earlier today, the pound extended losses and declined to the lowest level since Mar 2009 against the greenback as yesterday’s International Monetary Fund head comments and HSBC warnings (if the UK leaves the European Union in June, the pound could drop another 20%) continued to weigh on the currency pair. What’s next?

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Yesterday’s data showed that existing home sales increased by 0.4% in the previous month, which supported the greenback and pushed the USD Index higher. Earlier in the day, the U.S. currency extended gains against the basket of major currencies on hopes that today’s new home sales data would show another increase. How did today’s increase affect the technical picture of EUR/USD, USD/JPY and USD/CAD?

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