The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Aussie and Kiwi ascend versus broadly weaker greenback
On Wednesday, the Australian and New Zealand dollars tacked on versus their US rival because American political concerns kept weighing heavily on the US currency.
The currency pair AUD/USD grew 0.13%, trading at 0.7435.
The evergreen buck slid broadly, reacting to reports that Donald Trump dared to share secret intelligence with Russia's foreign minister the previous week.
The greenback came under further selling pressure, following news that Trump asked ex-FBI Director James Comey to cease the agency's investigation into ties between Russia and ex-White House national security adviser Michael Flynn.
Financial markets were still reviving from Trump’s decision the previous week to have James Comey sacked and amid congressional calls for an immediate independent investigation of hypothetical Russian interference with the American election.
The currency pair NZD/USD tacked on 0.15%, trading at 0.6923, thus demonstrating highest value since May 11.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.