Major currencies are keeping more tentative for the most part, with the dollar largely steady since the end of last week. That comes as we saw a bid in bonds while equities consolidated gains after the post-Nvidia earnings surge.
There's not much movement among dollar pairs, with only NZD/USD lagging slightly as sellers push back against the 0.6200 mark. Of note, the pair has fallen below its 100-hour moving average of 0.6183. That sees the near-term bias shift to being more neutral now. As a reminder, the next RBNZ policy meeting decision will be due this Wednesday.
Meanwhile, EUR/USD continues to hang in and around its 100 and 200-day moving averages of 1.0814-26. The 100-hour moving average at 1.0816 is also a key near-term level that buyers are leaning on to keep the upside intact for now. And USD/JPY is also hanging on just above its 150.00 mark as the focus now shifts to month-end trading.
For today, there's not much on the data docket to deal with. So, traders will be left to their own devices in figuring things out. Month-end flows might be a factor to consider in the sessions ahead. As such, there might not be much clarity in the moves over the next few days.
0900 GMT - SNB total sight deposits w.e. 23 February
1100 GMT - UK February CBI retailing reported sales
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
