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February 20, 2026

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Reciprocal Tariffs: Supreme Court Strike Down
Paying Article

February 20, 2026 4:31 PM UTC

·        The 6-3 vote by the Supreme court and full ruling against reciprocal tariffs means that the Trump administration will likely resort to other tariffs for negotiating leverage.  However, the Trump administration will also pressure to codify existing trade framework deals that have be

North American Summary and Highlights 20 Feb
Freemium Article

February 20, 2026 4:30 PM UTC

Overview - USD had a choppy upward path, as the details of the Q4 U.S. GDP were better than the headline number.  

FX Weekly Strategy: Asia, February 23-27th
Paying Article

February 20, 2026 4:00 PM UTC

Canada Q4 GDP a modest correction from a surprisingly strong Q3
U.S. January PPI Slower than a strong December, but trend still quite firm
Australia CPI Will be Lively
Will Tokyo CPI Dip Further

Chart USD/CAD Update: Potential for a minor test higher
Freemium Article

February 20, 2026 3:52 PM UTC

Little change, as prices extend consolidation following the test of resistance at congestion around 1.3700 and the 1.3725 weekly high of 6 February

Chart AUD/USD Update: Choppy in range - daily studies under pressure
Paying Article

February 20, 2026 2:27 PM UTC

The minor drift lower has bounced from 0.7015

Chart EUR/JPY Update: Room for a test above 183.00
Paying Article

February 20, 2026 2:13 PM UTC

Cautious trade has given way to a test of resistance at 183.00

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Q4 U.S. GDP: Lower Than Expected
Paying Article

February 20, 2026 2:13 PM UTC

Lower than expected Q4 GDP was mainly caused by the temporary government shutdown (-5.1% annualised), while consumer spending remained reasonable at 2.4% and AI related spending helping parts of fixed investment. However, income growth remains lower than consumption and we see this slowing the U.S.

Chart USD/JPY Update: Edging higher in both USD- and JPY-driven trade
Paying Article

February 20, 2026 1:53 PM UTC

Consolidation above 155.00 is giving way to further gains in both USD- and JPY-driven trade

EUR/USD, USD/JPY flows: Q4 US GDP
Paying Article

February 20, 2026 1:39 PM UTC

GDP lower than expected but USD dip is temporary.  

Chart EUR/PLN Update: Pushing higher
Paying Article

February 20, 2026 12:39 PM UTC

Cautious trade has given way to a push higher

Chart USD/ZAR Update: Minor reactions - studies remain positive
Paying Article

February 20, 2026 12:05 PM UTC

The test of congestion resistance at 16.2000 is giving way to a minor pullback

Chart EUR/CAD Update: Pressuring 1.6100
Paying Article

February 20, 2026 11:33 AM UTC

Little change, as mixed intraday studies keep near-term sentiment cautious

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Switzerland: An Alternative Insight into Current Franc Strength!
Freemium Article

February 20, 2026 11:14 AM UTC

The increasing strength in the Swiss France is causing reverberations.  More a reflection of U.S. dollar weakness than that of the euro, the nominal trade weighted Franc is hitting new highs (Figure 1).  But while this strength in impairing competitiveness – vital to an economy where exports acc

Chart EUR/CHF Update: Consolidating - room for a minor test higher
Paying Article

February 20, 2026 11:08 AM UTC

Little change, as prices extend cautious trade around 0.9130

FX Daily Strategy: N America, February 20th
Paying Article

February 20, 2026 10:10 AM UTC

Japan National Headline CPI Below Target
U.S. Q4 GDP and Core PCE Prices both seen at 2.6%
U.S. December Firmer prices matching income and spending
Other U.S. Data

This week's five highlights
Freemium Article

February 20, 2026 10:00 AM UTC

U.S. January Yr/yr ex food and energy CPI slowest since March 2021
FOMC Minutes Shows Splits, But Rate Cuts Should Still Arrive
RBNZ Keeping Their Cool
UK CPI Fresh and Marked Fall Resumes as Core Slips to Cycle-Low?
Washington and Delhi Recalibrate

Chart USD/CHF Update: Room for higher
Paying Article

February 20, 2026 9:28 AM UTC

Still little change, as prices extend pressure on congestion resistance at 0.7750

Chart EUR/GBP Update: Extending cautious trade
Paying Article

February 20, 2026 9:15 AM UTC

Still little change

Chart USD Index DXY Update: Pressuring 98.00 - daily studies continue to rise
Paying Article

February 20, 2026 9:04 AM UTC

Little change, as prices extend pressure on congestion resistance at 98.00

Chart EUR/USD Update: Pressuring 1.1750/70 - studies are falling
Paying Article

February 20, 2026 8:51 AM UTC

The anticipated test of support within congestion around 1.1750 and the 1.1770 Fibonacci retracement is giving way to consolidation

Chart GBP/USD Update: Reached 1.344050 - studies remain under pressure
Freemium Article

February 20, 2026 8:36 AM UTC

Anticipated losses have reached support within the 1.3440 Fibonacci retracement and congestion around 1.3450

Chart GBP/JPY Update: Extend consolidation above 207.50 support
Paying Article

February 20, 2026 8:00 AM UTC

Little change, as prices extend choppy trade above the 207.50 support 

Chart AUD/NZD Update: Extending gains
Paying Article

February 20, 2026 7:18 AM UTC

Break above resistance at the 1.1800/20 congestion see prices reaching fresh year high at 1.1835

Chart AUD/JPY Update: Consolidating below 110.00
Paying Article

February 20, 2026 6:57 AM UTC

Bounce from support at the 108.00/107.80 congestion area has seen gains to approach the 110.00 level

Asia Summary and Highlights 20 Feb
Paying Article

February 20, 2026 5:14 AM UTC

Iran warns of decisive response if attacked as Trump weighs strike option
The January National CPI dipped below two percent