Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Asian currencies go down
On Tuesday, the Japanese yen seesawed in rather a narrow range in Asia, just a day after reaching four month minimums versus the greenback, with most Asian currencies staying subdued.
The Japanese yen was at 114.20 by mid-morning, regaining some lost ground, with a dipping in machine order as well as soft current account figures putting pressure on traders.
Meanwhile, the Chinese Yuan stood still. The PBOC enabled the national currency to trade at 6.8045, giving up 0.04% versus the greenback.
The South Korean won inched down 0.09% during early morning trade, hitting 1150.500 versus the USD.
On Friday, the US currency managed to grow versus a basket of the other key currencies on Friday after data disclosing that the American economy generated jobs at a robust pace the previous month backed expectations for a third lift by the Fed in 2017.
The previous month the American economy generated 222,000 jobs as the Labor Department informed, surpassing expectations.
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
The week will have the biggest event in the US political process over the last two years. How will the elections affect the Forex market? We covered the most important news of this week in this report.
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.