Welcome to Tuesday!
Daily News: Wednesday, January 24
The middle of the working week is a good time to gather past and future events, analyze and trade!
- USD/JPY pair is falling. Despite the BOJ report where the Bank announced stability of its loose monetary policy and unchanged interest rate, the price of USD/JPY is sliding down. The candlestick hit the support line of 110 and fell to 109.8. We are waiting for trading news.
- New high. EUR/USD pair achieved a new 3-year high of 1.2335. The depreciation of USD against the JPY affected the Fiber. Now the pair is falling, but let’s see where the pair will go.
- The Aussie, the loonie, and the kiwi are rising. The weakness of the US dollar supports other currencies. Despite the yesterday fall of Aussie, the Australian dollar is rising now and economists believe in bullish trend still. The Canadian dollar and the New Zealand dollar are growing stably.
- The World Economic Forum in Davos that started yesterday is continuing. Economists are waiting for Trump’s speech, supposing that it will give chances to USD to show a bit of life. More information about the WEF and Trump’s address you can find here
- An anticipated Chair of the Fed. As expected, Jerome H. Powell became the next chairman of the Fed. The majority of the US Senate voted to confirm him to this position. Expecting vectors of his policy, his background you can find here
- At the end, a positive forecast. Reuters poll predicts the global growth in 2018 that was not seen since 2010. It gives signals to invest in stocks and high-yielding currencies.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…