Asian currencies go down

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.  


What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

USD Moves Weird Ahead of CPI
USD Moves Weird Ahead of CPI

The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.

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FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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