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 edges up on current account
On Tuesday, the Australian dollar rallied in Asia because current account as well as China services ensured a jump ahead of the latest key bank review of interest rates with market participants watching closely further political risk events on the Korean peninsula.
The currency pair AUD/USD soared 0.15% being worth 0.7957. At the same time USD/JPY hit 109.22, decreasing 0.46%.
Australia’s current account demonstrated a surplus of A$9.6 billion, which is wider than the A$8.1 billion surplus observed during the second quarter.
The RBA interest rate verdict is supposed to see Australia’s major financial institution hold steady at a record minimum 1.50%.
The previous week, the greenback was broadly lower versus the other major currencies because Friday's dismal American employment data kept weighing and as renewed threats from North Korea dominated traders’ attention.
Trading volumes were believed to stay light with American markets unavailable due to the Labor Day Holiday.
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.