Here we gathered the best and the worst performers of the week and the most volatile pairs .
Asian currencies head north as risk appetite gets back
On Monday, the evergreen buck gave up some ground in Asia in the morning because traders piled into stocks, crude as well as risky Asian currencies reacting to a softening US-China trade clash over the weekend.
An agreement by American leader Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit the weekend in Argentina over to put on hold any new levies for up to 90 days and intensify trade negotiations gave new life to risky markets.
Gauging the purchasing potential of the evergreen buck against a number of its rivals the USD index declined by 0.3% trading at 96.97.
In general, Asian currencies managed to inch up versus the evergreen buck, particularly those more heavily impacted by commodities. In addition to this, the Australian dollar along with New Zealand one headed north. By the way, the NZD/USD pair managed to reach the maximum not observed since June, ascending by up to 0.55% ending up with 0.6905. The currency pair AUD/USD inched up by up to 0.74% being worth 0.7360.
The currency pair USD/JPY dipped by nearly 0.04% trading at 113.53.
The greenback also gained ground versus its Chinese counterpart. The currency pair USD/CNY rallied by 0.02% hitting 6.9601.
Along with the suspension of trade hostilities, the Chinese Yuan was impacted by the publication of the Caixin/Markit Manufacturing Purchasing Managers’ Index for November, suggesting that factory activity has improved. For November, the Caixin PMI accounted for 50.2, surpassing an estimate of 50.0 and higher in contrast with October’s reading of 50.1. The official PMI hit 50 on Friday, which is below expectations.
Notwithstanding the upbeat tone of the Caixin PMI result, a sub-index that gauges new export orders went down to about 47.7, decreasing from October’s reading of 48.8.
The European Central Bank will meet today to discuss the current monetary policy and the fate of the quantitative easing program
Canada will publish the headline and core retail sales on January 24 at 15:30 MT time.
Canada will publish its monthly GDP growth rate at 15:30 MT on January 31.
The famous pharma giant Pfizer is going to release its earnings report on January 28 at 17:00 MT time.
The Bank of England’s interest rate announcement and monetary report will be out at 14:00 MT on January 30.