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 is intact on poor NAB data, Kiwi surges
On Tuesday, the Australian dollar didn’t change versus its American rival after the publication of dismal Australian data. Meanwhile, the New Zealand dollar grew because market sentiment kept recovering from worries provoked by Hurricane Irma as well as North Korea.
The currency pair AUD/USD tumbled 0.14% being worth 0.8016.
The National Australia Bank told that in August its business confidence index went down to 5 from the previous month’s outcome of 12.
The currency pair NZD/USD rallied 0.21% being worth 0.7267.
Market sentiment kept improving because Hurricane Irma generated less damage than previously anticipated in Florida and as North Korea didn’t launch missiles over the weekend.
Traders had braced for extra provocations from the isolated Asian nation on September 9 because North Korea celebrated its founding day. However, North Korea stood away from launching missiles that day.
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…