Fundamental analytics

Daily News - Asian oil prices rise more than 1.5%

1. Retail sales data put pressure on NSD/USD currency pair
2. Vlige: we are going through a long stage of low rates
3. Oil prices continue to move up


Trading in Asia, the NZD/USD currency pair ended lower on 0.16% amid the release of weak macroeconomic statistics from New Zealand. According to the report, retail sales decreased by 2.7% in Q4 compared to Q3. Experts predicted a more modest decrease of 0.5%. Among G7 currencies today, only the New Zealand dollar is trading with a decrease against the US dollar.
The British pound retains the upward vector of movement despite statements by Bank of England spokesman Gertian Vlige that UK interest rates will remain at historic lows for decades to come. Vlige said that now we are going through a very long stage of low rates and they are unlikely to move to growth during his lifetime.
Oil prices continue to move upward amid forecasts of a slow recovery in US production. The cost of CES approached the mark of $63 per barrel. Brent is approaching a level of $66 per barrel. According to experts, shale oil producers in the southern United States may need at least two weeks to resume production of more than 2 million barrels per day. Frozen pipes and equipment, as well as power outages, significantly slow the process of restoring production.

News to pay attention today:
07:00 GMT. UK: Labour Market Report
10:00 GMT. EU: Consumer Price Index Data for January
15:00 GMT. US: CB Consumer Confidence Index
15:00 GMT. USA: speech by Fed head Jerome Powell

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