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:
Euro declines to day’s minimums as ECB tapering expectations weaken
On Wednesday, the common currency tumbled to the day’s minimums, following reports that ECB President Mario Draghi won’t deliver any fresh monetary policy message at the Fed’s Jackson Hole conference.
The currency pair EUR/USD deceased 0.23% being worth 1.1707, tumbling from 1.1723 reached earlier.
The given report tempered hopes that the EU’s key bank is actually moving closer to unveil plans to scale back its monetary stimulus program.
Anticipation had been mounting ahead of the speech that’s due to occur on August 25 amid hopes that Draghi would point to a definite shift in ECB policy.
The common currency was a touch lower versus the British pound, with EUR/GBP slumping 0.12% being worth 0.9107.
At the same time the common currency retraced revenues versus the Japanese yen, with the currency pair EUR/JPY last trading at 129.77, edging down from an overnight peak of 130.4.
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.
