
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
The Reserve Bank of Australia will make the cash rate statement on May 3, at 07:30 MT. It’s usually published every first Tuesday of the month. The cash rate is charged on overnight loans between financial intermediaries. Its amount is determined based on the interaction of demand and supply of overnight funds. This release is crucial for AUD.
Australian CPI rose at the fastest annual pace in two decades last quarter. As gasoline, housing, and food prices rose, interest rates may rise from their earlier record lows. The Reserve Bank of Australia no longer needs to keep interest rates at an extremely low 0.1% and may raise them soon, rather in May than in June. Besides, the RBoA hasn’t changed the interest rate since November 2020.
Inflationary pressures have intensified and expanded, and the 0.1% cash rate target is no longer appropriate. Analysts now expect the RBA to rise 15 basis points. Markets have also quickly narrowed the chances of a rise to 0.25%. Although, many are still in favor of a June hike, given that such a sudden move may spark political unrest so close to the May 21 parliament election.
The last release had a positive impact on the currency. The AUDUSD pair rocketed 1150 points that day. The rate result was the same as expected, 0.10%.
The greater “Actual" vs. “Forecast" is, the better it is for the currency.
Check the Economic Calendar.
Instruments to trade: AUDUSD, AUDCHF, AUDNZD, AUDJPY
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
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.
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