# Forex Major Currencies Outlook (Feb 24, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-feb-24-2016/ Language: en Updated: 2016-02-24 Description: Explore Forex Major Currencies Outlook (Feb 24, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar was able to recover against the higher-yielding currencies yesterday as risk-off flows were seen. Data from the US economy came in mixed, with the CB consumer confidence index falling from 97.8 to 92.2 versus the projected 97.4 figure and existing home sales rising to 5.47M, outpacing the consensus at 5.37M. US new home sales and crude oil inventories are up for release today. **EUR** The euro recovered against the comdolls but was still in a generally weak spot since data from the region missed expectations. Germany reported a drop in its Ifo business climate from 107.3 to 105.7, worse than the estimated fall to 107.0. There are no reports due from the euro zone today. **GBP** The pound was still weighed down by Brexit fears but managed to pop slightly higher against commodity currencies. The BOE Inflation Report hearings simply reiterated what had already been said in the BOE statement and MPC minutes, although Carney clarified that they aren’t likely to lower rates below zero. Only the CBI realized sales index is due today. **CHF** The franc staged a strong rally after SNB head Thomas Jordan mentioned that it would be difficult for them to employ unconventional policy tools endlessly. Market watchers took this as a sign that the SNB isn’t likely to lower rates much deeper into negative territory even though the ECB is mulling further easing. The Swiss UBS consumption indicator is due today. **JPY** The yen carried on with its climb, albeit at a slower pace than usual, as risk aversion weighed on the comdolls. There have been no major reports out of Japan, although the Brexit and crude oil concerns are working in the yen’s favor. **Commodity Currencies (AUD, NZD, CAD)** The comdolls weakened across the board when Iran’s oil minister pointed out that it would be unreasonable to expect them to cap production. Saudi’s oil minister also mentioned that they have no plans of cutting output while the API report indicated a buildup of 7.1 million barrels. The US crude oil inventories report is due today and an increase of 2.1 million barrels is eyed. Earlier today, Australia’s construction work done and wage price index both missed expectations. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-feb-24-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-feb-24-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-feb-24-2016/", "headline": "Forex Major Currencies Outlook (Feb 24, 2016)", "inLanguage": "en", "datePublished": "2016-02-24T06:37:53+00:00", "dateModified": "2016-02-24T06:37:53+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Feb 24, 2016). USDThe US. 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