
USD/CHF and EUR/CHF rose to tactical highs. What's next?
On Friday, the evergreen buck slumped versus other rivals because trade negotiations between China and the United States ended.
Estimating the purchasing power of the US currency against its main rivals, the USD index went down by approximately 0.12% hitting 95.44.
China and the United States moved ahead with 25% duties on $16 billion worth of products, as trade negotiations between the two sides brought no agreement. The two leading economies of the world have been in a fierce trade conflict for months.
Meanwhile, Fed Chair Jerome Powell is anticipated to deliver a speech on Friday at the annual gathering of key bankers. Market participants are going to closely watching the event for probable prompts on future monetary policy. The Federal Reserve kept rates on hold at its last gathering in August, although it’s anticipated to have rates lifted at least two times before the end of 2018.
The evergreen buck managed to ascend versus the safe-haven Japanese yen. The currency pair USD/JPY tacked on by 0.13% hitting 111.44. As a rule, in times of uncertainty, traders are prone to investing in Japan’s currency, traditionally considered to be a reliable safe asset during hard times.
The common currency managed to rally. The currency pair EUR/USD added 0.22% showing 1.1564. The UK currency gained ground too. The currency pair GBP/USD soared by 0.04% trading at 1.2820.
Meanwhile, Turkey’s currency went down a bit versus the evergreen buck. The currency pair USD/TRY inched up by 0.12% reaching 6.0800 due to the fact that Turkish financial markets are unavailable due to holidays. The Turkish lira has been suppressed for the last few weeks because Turkey and America disagree over a detained US pastor.
Additionally, the Australian dollar ascended. The currency pair AUD/USD gained by 0.39% demonstrating 0.7275. The currency pair NZD/USD surged by 0.02% showing 0.6641. As for the Canadian dollar, it dived a bit versus the US dollar. The currency pair USD/CAD gained 0.01% closing with 1.3082.
USD/CHF and EUR/CHF rose to tactical highs. What's next?
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
Great news for oil bulls! OPEC and its allied producers agreed to expand output cuts for the next month.
The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.
The European Central Bank publishes its monetary policy statement that includes an announcement of the interest rate on March 11, at 14:45 MT time.
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 00:30:00
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.