Online Forex broker
On Monday, the Chinese Yuan headed south in Asia notwithstanding a sudden improvement in China’s factory activity.
As a matter of fact, the currency pair USD/CNY hit 6.7054, decreasing by about 0.1%.
In March, the Caixin/Markit PMI came up with 50.8, which appears to be higher than the anticipated 49.9. Released on Sunday, the official PMI also tacked on, gaining 50.5 from February’s outcome of 49.2, thus becoming the first expansion for four months.
An outcome below 50 stands for contraction. On the contrary, a result above that level points to expansion.
The positive data raised investor sentiment and also pushed Chinese shares up by over 2.5%. However, the Chinese Yuan slumped a bit.
Besides this, gauging the greenback’s purchasing potential versus its primary peers the USD index slipped by 0.14% coming up with 96.713. The evergreen buck has been diving since Friday after data disclosed that American consumer spending barely rallied in January.
In January, consumer spending, accounting for more than two-thirds of American economic activity, tacked on by 0.1% after a 0.6% slump in December, which appears to be its first dive since September 2016.
Market participants are going to closely watch Friday’s American government employment report for March, with wage growth figures likely to attract attention after the US major financial institution excluded the probability of any rate lifts in 2019.
Additionally, financial markets will also receive an update on American retail sales as well as manufacturing activity.
On the China-US trade front, China’s Vice Premier Liu He will go to Washington this week with the aim of meeting with US Trade Representative Robert Lighthizer as well as Treasury Secretary Steven Mnuchin for more trade negotiations.
The currency pair USD/JPY rallied by 0.2% reaching 111.03.
Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.
Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.
Reserve Bank of New Zealand (RBNZ) will reveal Official Cash Rate and make a statement about monetary policy on October 6, 04:00 GMT+3.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
