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:
Evergreen buck heads north with American jobs data eyed
On Friday, the evergreen buck managed to ascend versus other key rivals because market participants waited for the publication of important American employment reports due later in the day. Meanwhile, quite aggressive remarks from the Federal Reserve in 2018 kept lending substantial support.
The US currency was still underpinned after on Wednesday the key US financial institution at the conclusion of its policy gathering expressed its confidence as for inflation and surge in the United States.
The Federal Reserve informed that inflation will most probably inch up in 2018, spurring hopes for further interest rate lifts under incoming major bank chief Jerome Powell.
Market participants were closely watching the American nonfarm payrolls data due later on Friday just to get familiar with further signs of the strength of the US job market.
Normally estimating the US currency’s value versus a trade-weighted basket of six crucial currencies, the US dollar index managed to ascend 0.28% being worth 88.73 on Friday.
The common currency as well as the British pound headed south, with the currency pair EUR/USD declining 0.24% showing an outcome of 1.2484. Besides this, the currency pair GBP/USD went down 0.37% trading at 1.4215.
On Friday, research group Markit drew attention to the fact that in January its British construction purchasing managers index went down to 50.2 versus the previous month’s reading of 52.2, compared to hopes for a 52.0 descend.
The Japanese yen and the Swiss franc lost too, with the currency pair USD/JPY earning 0.43% being worth 109.88 and also with USD/CHF soaring 0.24% hitting 0.9288.
The Australian as well as New Zealand dollars still traded lower. For example, AUD/USD dived 0.68% reaching 0.7987, while NZD/USD retreated 0.59% hitting 0.7353.
Besides this, USD/CAD leapt 0.30% offering a reading of 1.2303.
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
Oil Experiences an 11% Weekly Loss
The ECB is expected to raise the interest rate to 1.5% and oil is falling
Bitcoin might fall deeper
Good morning, our dear traders! Are you ready for the news that is worth following for trading today? Let’s see! Today’s events: 14:00 GMT+2, EUR, ECB President Lagarde Speaks 16:30 GMT+2 CHF, Gov Board Member Maechler Speaks Bitcoin’s…
China Stocks are About to Jump
It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.
