GBP/USD upside limited on Brexit concerns - FXStreet

Valeria Bednarik, chief analyst at FXStreet, explained that the GBP/USD pair advanced up to 1.4394 during the European session, as local share markets opened with a strong footing, tracking Asian stocks.

Key Quotes:

"But the pair trimmed most of its daily gains during the American session, and retreated towards its comfort zone around the 1.4300 level."

"There were no news in the UK to support the Pound, but this Friday, the kingdom will release its January Retail Sales data, expected to have grown compared to December figures.

If that's the case, the British currency may result benefited. Nevertheless, the discussions surrounding a possible Brexit and the upcoming referendum on the matter, will probably keep the GBP subdued."

Feb 18, 2016

Mexico: Tightening will not have serious consequences on the economy - Wells Fargo

According to Eugenio J. Alemán, Senior Economist at Wells Fargo, the decision of the Bank of Mexico to raise rates by 50bps yesterday was a surprise and so far it will not affect the economy, unless the central bank continues with its campaign.

Oil settles slightly up, holds onto weekly gains

Crude oil prices jumped during the European session to fresh 2-week highs, with WTI futures rising up to $31.95 a barrel, boosted by the API report released late Wednesday, which showed crude oil inventories fell by 3.3 million barrels in the previous week. Also supporting the commodity was Iran's endorsement to the output freeze proposed by other major producers.