The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Aussie edges up in Asia backed by China party congress
On Wednesday, in Asia, the Australian dollar grew, with the opening of China's party congress offering few economic cues in the highly anticipated speech by President Xi Jinping. He told that the market will play a crucial role in the Chinese economy.
The currency pair AUD/USD rallied 0.09% being worth 0.7852, USD/JPY hit 112.16, sliding 0.04%. As for EUR/USD, this currency pair showed an outcome of 1.1770, jumping 0.03%.
Gauging the greenback’s value versus a basket of six key currencies, the US dollar index tumbled 0.03% being worth 93.33.
Overnight, the US currency traded higher versus a basket of main currencies underpinned by economic reports, which topped hopes that point to underlying strength in the American economy.
The greenback found itself on track for a fourth-straight trading session of profits after a bunch of positive economic reports raised expectations that the American economy is already demonstrating a sturdy quarter of surge.
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 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.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!