Earlier today, official data showed that the U.K. consumer price index rose 0.1% in the previous month. Additionally, the annual rate of inflation rose 0.2%, beating forecasts of 0.1%. Thanks to these numbers, GBP/USD moved higher and came back above 1.4300. Will we see a trend reversal in the coming days?

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Although the University of Michigan showed that its consumer sentiment index increased to 93.3 in Jan, this positive reading was overshadowed by other disappointing reports released on Friday. As a reminder, the U.S. Census Bureau reported that retail sales fell 0.1% in Dec, while core retail sales (without automobiles) dropped by 0.1% last month. Additionally, the U.S. producer price index slipped 0.2% in the previous month and U.S. industrial production declined by 0.4%. On top of that, the Federal Reserve of New York showed that its Empire State manufacturing index declined to minus 19.37 this month, well below forecasts. Tanks to these disappointing numbers, the USD Index declined under 99, which pushed the euro above important resistance line. What impact did this drop have on the technical picture of other currency pairs?

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Earlier today, the euro increased against the greenback once again, which resulted in another increase above the resistance line. Will currency bulls manage to hold gained levels?

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Earlier today, EUR/USD moved higher against the U.S. currency ahead of a European Central Bank president Mario Draghi speech. As a result, the exchange rate broke above the upper border of the trend channel. Is it enough to trigger further rally?

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Earlier today, official data showed that China’s imports and exports declined less than expected, while country’s trade surplus widened to $60.09 billion in December. Thanks to these numbers, AUD/USD extended gains and approached the first resistance. Will we see further improvement in the coming days?

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