At the Treasury Select Committee (TSC) hearing following the February Monetary Policy Report, Governor Andrew Bailey struck a cautiously dovish tone, suggesting that with inflation returning to target, there should be scope for some further easing in monetary policy.
US consumer sentiment picked up pace in February, as the Conference Board’s Consumer Confidence Index improved to 91.2 , up from January’s 89.0 (revised from 84.5).
ING economist Charlotte de Montpellier notes that French business confidence fell further in February, with the overall climate below its long‑term average and services particularly weak.
Commerzbank’s Norman Liebke notes European gas prices have stabilized as milder weather reduces withdrawals from storage, with low withdrawal rates likely to persist in coming weeks.
NZD/USD trades around 0.5950 on Tuesday at the time of writing, down 0.14% on the day, after failing to establish a sustained move above the 0.6000 level.