FXEM - EMPIRE MARKETS - Company New Article

The British pound is trading at 1.2647 as markets await important economic data that may affect its trends. The most prominent data expected are:

• The minutes of the US Federal Reserve meeting, which may give signals about the upcoming monetary policy and its impact on the dollar.
• The US inflation data, which will determine interest rate expectations and directly affect the movements of major currencies.
• The British labor market data, which will reflect the strength of the British economy and its impact on the Bank of England’s decisions.

Technically, the price faces resistance at 1.2670, while the 1.2620 level constitutes important support. Breaking this support may increase selling pressures, while breaking the resistance may push the price towards 1.2700.

The EUR/USD is trading at 1.04815, as markets await upcoming economic data that could influence its direction during the week.

• Federal Reserve meeting minutes (Wednesday, February 26): It may reveal the central bank’s monetary policy direction, which could impact the dollar’s ​​movement.
• US inflation data: Any signs of continued inflationary pressures could support the dollar and pressure the euro.
• Eurozone growth data: It could give signals about the performance of the European economy and its impact on the European Central Bank’s decisions.

In light of these upgrades, the euro could witness volatility, as upcoming data will determine its next direction against the dollar.