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:
Chinese Yuan and Indian rupee are expected to dip over coming year
The Chinese Yuan as well as Indian rupee are supposed to sag versus the evergreen buck over the coming year, as a Reuters survey states, with the US dollar backed by American interest rate lifts, although financial analysts have already trimmed their quite bearish bets on Asian currencies from the previous survey.
While financial markets don’t actually expect the Fed to lift interest rates at its policy gathering later on Wednesday. The US number one financial institution’s tipped to raise rates twice more in 2017, with one likely as early as in June and it’s going to be supportive of the greenback.
China's Yuan’s up about 0.7% so far in 2017, having dropped nearly 7% last year. In November, the major Chinese currency reached an eight-year minimum, reacting to Donald Trump's unexpected election as American President.
As for the Indian rupee, this currency’s supposed to edge down to 66.23 per greenback in the year, which is more than 3% dip from where it was trading recently.
This year, the major Indian currency has soared more than 5% versus the US dollar, hitting a 20-month peak of 63.92 per dollar the previous month.
Similar
Is Inflation Defeated?
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.
Who Will Rule the US?
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.
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.
