Evergreen buck goes down ahead of major GDP reports

Evergreen buck goes down ahead of major GDP reports

On Friday, the evergreen buck went down in Asia due to the fact that financial markets are waiting for the major first-quarter GDP data due later in the day.

Estimating the purchasing potential of the US dollar versus its main peers the USD index sank by 0.1% coming up with an outcome of 97.873.

The US Department of Labor informed that initial jobless claims went up by up to 37,000 to a seasonally updated 230,000 by April 21, confounding experts’ estimate for a leap to 199,000.

On Wednesday, the Commerce Department told that core durable goods orders headed north by 0.4% in March, beating analysts’ forecasts for a 0.2% jump.

Without airplanes, non-defense capital goods orders ascended by 1.3% in March, which is above hopes for a 0.1% ascend.

In addition to this, the currency pair USD/CNY headed south by nearly 0.1% coming up with a reading of 6.7346.

Market participants closely watch Chinese President Xi Jinping’s speech to be delivered at the Belt as well as Road Forum on Friday. The statesman is expected to tack about China’s exchange rate level.

China is going to ensure its national currency stay within rational range, although wouldn’t pursue Yuan depreciation, which harms others.

Eventually, the currency pair USD/JPY stood still, showing 111.61.

On Thursday, the Bank of Japan told it’s about to keep interest rates low enough until 2020. Moreover, the major monetary stimulus settings weren’t changed.

Japan’s major financial institution noted that it won’t meet its 2% inflation goal for the next three years.

Besides this, the currency pair EUR/USD rallied by up to 0.1% hitting 1.1134.

The currency pairs AUD/USD and NZD/UDS shot up by respectively 0.1% and 0.2%.


What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

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.

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

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.

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