EURUSD

Important developments are taking place at the central bank meeting in February. The decision by the Bank of England (BoE) to cut interest rates by 25 basis points is particularly attracting attention in the markets. All 9 members at the meeting supported the cut, while 2 members requested a 50 basis point reduction. Although this led to an immediate drop in the pound, it later recovered and attempted to return to pre-rate levels. Meanwhile, the euro is maintaining a calm trajectory, while the Dollar Index continues to move around the 34-day average region. Following the BoE, the impact of U.S. employment data will become significant in global markets.

Despite the Dollar Index approaching the 110 level, it is struggling to maintain above this region and remains under pressure. It is noteworthy that the short-term indicator is below the 34-day average (107.80). While the main indicator remaining above the 233-day exponential moving average (105) paints a positive picture, there is curiosity about how short-term reactions will develop. It is emphasized that reactions for the EURUSD and GBPUSD pairs also need to be monitored.