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 declines, Kiwi gains ground
On Monday, the Australian dollar went down versus its American rival, after the publication of dismal Australian data. Meanwhile, the New Zealand dollar managed to gain some ground amid renewed geopolitical tensions between American and North Korea.
The currency pair AUD/USD dived 0.13% being worth 0.7957 right after the Australian Bureau of Statistics announced that company operating revenues dived by 4.5% during the second quarter, versus expectations for a 4% dip.
July’s company operating revenues were updated to a 5.8% soar from a previously estimated 6% ascend.
Geopolitical threats revived after on Sunday North Korea announced that it had successfully conducted a test of a hydrogen bomb, which could be potentially installed on an intercontinental ballistic missile.
Pyongyang dubbed the test a complete success, reporting a greater yield compared to previous tests and with no negative impact on the environment.
The currency pair NZD/USD jumped 0.22% hitting 0.7173, which is not far from last Thursday's three-month dip of 0.7132.
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.
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.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…