Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Aussie and Kiwi are nearly intact versus greenback in late trade
On Monday, the Australian and New Zealand dollars stood still versus their American rival because the greenback mildly revived notwithstanding everlasting uncertainty over the fate of a key US tax overhaul.
The currency pair AUD/USD was intact sticking to 0.7664.
On Thursday, Senate Republicans disclosed a tax plan that greatly differed from the one offered by House Republicans, showing the challenges to reconciling the major differences between the two plans with a short time period before the year-end deadline they’ve already set to pass it.
Expectations of tax reform have helped to spur the greenback since mid-September. Some market participants are assured that tax reforms could back surge, adding pressure on the Fed to lift interest rates, dubbed the "Trumpflation" trade.
The currency pair NZD/USD didn’t change showing 0.6935.
Meanwhile, the US dollar index, tracking the greenback’s value versus a basket of six crucial currencies, gained 0.15% being worth 94.44.
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.
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.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.