
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
On Thursday, the Australian dollar sank in Asia, with trade data weighing moderately along with China Caixin PMI figures. Additionally, the market looked ahead to end of the week nonfarm payroll data following a Fed review on rates, which might confirm a highly anticipated June lift.
Measures the greenback’s value against a basket of currencies, the US dollar index lost 0.04%, trading at 99.22.
The currency pair AUD/USD showed 0.7409, slumping 0.19%. As for USD/JPY, the pair got to 112.88, rising 0.12%.
As China states, April’s Caixin services PMI sagged to 51.6. In March, Australia’s trade balance was A$3.107 billion, and it’s less than the A$3.4 billion surplus observed.
Overnight, the Fed left its benchmark rate intact, keeping within 0.75-1%.
As for jobs and inflation, the Fed told that the labor market kept strengthening as job gains turned to be solid enough in recent months while inflation kept running below 2%.
The US major bank repeated its view that monetary policy will still be accommodative to underpin both an uptick in labor market conditions as well as a sustained return to 2% inflation.
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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