Important events today:

13:30 UTC – US: Core Personal Consumption Expenditures Index for December.

The uptrend in the U.S. stock market will have a favorable impact on the value of this currency pair, as assets are correlated with each other. U.S. corporations are pleasing investors this week with positive reporting, and managers are promising investors good results in Q1 this year.

“To promise is not to marry,” but investors are now trying to latch on to any excuse to drive the market higher. The SP500 index is firmly above the psychological 4,000 point mark and is now aiming to test the December high (4136).

Recommendations: Buy 129.51/129.15 and TP 130.10.