Online Forex broker
On Friday, the evergreen buck slumped in Asia notwithstanding better-than-anticipated labour as well as inflation data published overnight.
Tracking the greenback’s purchasing potential versus a group of other currencies the USD index decreased by 0.2% ending up with 96.597.
On Thursday, the Labor Department informed that its core producer price index managed to surge by 0.3% in March, which is above experts’ forecasts for a 0.2% ascend. The core PPI went up by 2.4% for the 12 months through March.
It also informed that initial jobless claims headed south by 8,000 to a seasonally updated 196,000 by April 7, thus ruining hopes for a leap.
A lot of market players had taken a bearish view on the evergreen buck after the American CPI numbers published earlier in the week, although they were forced to steeply cover short positions because Thursday's data turned out to be firm.
The minutes of the Fed’s recent policy gathering, published on Wednesday, told that various Fed policymakers were assured that the appropriate level for interest rates could move in either direction.
By the way, previously the Federal Reserve told that the next move in American interest rates might be down rather than up.
Besides this, the currency pair GBP/USD soared by about 0.2% being worth 1.3072 right after the European bloc agreed to push back Britain’s departure date as far as Oct. 31.
Additionally, the currency pair AUD/USD managed to rally by about 0.1% following the publication of the Reserve Bank of Australia’s fresh financial stability review.
The currency pair USD/CNY stood still, sticking with 6.7189.
As for the currency pair USD/JPY, it jumped by 0.1% hitting 111.74.
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.
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
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.
|
