Markets seem to have entered a consolidative theme ahead of key data releases on both sides of the ocean, while Fed speakers and ECB officials equally appear aligned behind the idea of cutting rates later than the majority of investors anticipate.
The FX galaxy seems to have entered a broad-based consolidative phase against the backdrop of rising speculations that major central banks with the exception of the BoJ might now take more time to assess the start of the easing cycle.
Here is what you need to know on Wednesday, February 7: The US Dollar (USD) struggles to gain traction early Wednesday, with the USD Index (DXY) holding steady slightly above 104.00 after snapping a two-day winning streak on Tuesday.