Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
British pound hits day’s maximums as British service surge picks up
On Wednesday, the British pound rallied to the day’s maximums following data, which showed that surge in the UK service sector picked up in September. However, the report also disclosed that fresh orders rallied at the slowest tempo for 13 months.
The currency pair GBP/USD gained 0.29% being worth 1.3269.
According to financial data company Markit, in September, its services purchasing managers’ index leapt to 53.6, up from August’s outcome of 53.2.
Financial experts had hoped for an intact outcome.
Subdued domestic demand affected surge and the leap in fresh work orders turned to be the slowest for 13 months.
Companies were still pressured by soaring prices, with input cost inflation reaching a seven month maximum.
The British pound grew versus the common currency, reacting the report. EUR/GBP dived 0.16% hitting 0.8859.
The greenback dipped against a basket of key currencies as financial markets digested speculation over who’s going to head the Fed in February.
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.
The ECB is expected to raise the interest rate to 1.5% and oil is falling
Good morning, our dear traders! Are you ready for the news that is worth following for trading today? Let’s see! Today’s events: 14:00 GMT+2, EUR, ECB President Lagarde Speaks 16:30 GMT+2 CHF, Gov Board Member Maechler Speaks Bitcoin’s…
It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.