How to trade the JPY?
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 rebounds on expected wage surge
On Wednesday, the Australian dollar rebounded following sturdy wage price data.
The currency pair AUD/USD hit 0.7834, rising 0.15%, while USD/JPY showed 110.65, sliding 0.01%.
The US dollar index, tracking the US dollar’s strength versus a trade-weighted basket of six crucial currencies, didn’t change, demonstrating 93.75.
Overnight, the US currency traded higher versus a basket of global currencies, underpinned by retail sales data, which topped predictions, hinting at a rebound in consumer spending, driving expectations of firm economic surge in the second half of 2017.
On Tuesday, the Commerce Department told that the previous month retail sales went up 0.6%. It turned to be the largest revenue for seven months, concluding four-consecutive months of lower than expected surge.
Safe-haven jitters kept easing, as North Korean state media posted on Tuesday that leader Kim Jong Un had postponed his decision on launching missiles towards the American pacific territory of Guam. As follows from this his earlier threats might have been rhetorical.
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Latest news
Increased Volatility is Coming
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
Market Crash Incoming?
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.
What Currency Will Overperform?
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.
