
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 Tuesday, the British pound sank to the day’s minimum versus the common currency after data unveiling that activity in the British construction sector tumbled for the first time for 13 months in September drove concerns that the UK economy’s losing momentum.
The common currency EUR/GBP slumped 0.2% hitting 0.8854.
As financial data firm Markit states, its construction purchasing managers’ index dived to 48.1 in September versus August’s reading of 51.1.
House building surge decreased to a six-month minimum, while civil engineering work slumped at its fastest tempo since April 2013.
Construction companies faced a sag in workloads mainly because of bad confidence and low risk appetite among customers, especially in the commercial building sector. That’s what the report unveiled.
Uncertainty as for the path to Brexit also appeared to be a crucial factor in this slowdown.
The British pound was still lower versus the firmer greenback reacting to the report.
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.
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…
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