Market updates on September 12
ECB meeting is on the agenda. Will the EUR get weaker?
Evergreen buck goes down notwithstanding better-than-anticipated labor and inflation data
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.
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The British pound falls further ahead of the Cabinet meeting
The news that opposition lawmakers plan to stop Boris Johnson to leave the European Union without a deal increased the political uncertainties in the UK.
The market awaits NFP
The level of non-farm payrolls (NFP), also known as non-farm employment change will be published on September 6, at 15:30 MT time.
Latest news
5 important events this week will bring us!
Pay attention to the FOMC meeting, where the rate cut is expected. Also, it is recommended to keep an eye on the oil prices, updates on trade talks between the USD and China and, of course, Brexit.
Market updates on September 13
The retail sales for the US in focus today
"Buy the rumor - sell the fact" action for USD/TRY
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
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