Online Forex broker
On Friday, the major US currency slipped because New York Federal Reserve President John Williams told that the correlation between inflation and employment is already kicking.
For the last time, the correlation, dubbed the Phillips Curve, has been in doubt because of no inflation notwithstanding the unemployment rate approaching record minimums.
On Friday, Williams told that the Phillips Curve still exists and the key US financial institution needs to be vigilant as for inflation as well as weakening inflation expectations.
Assessing the greenback’s purchasing potential versus a group of its main rivals the USD index slipped by 0.16% showing 96.31.
The evergreen buck declined versus the safe-haven yen. The currency pair USD/JPY tumbled by about 0.17% ending up with 110.65. Japan’s currency is normally sought by traders as a safe haven asset during times of market or economic stress.
Market participants are also closely watching trade developments. Currently, they’re going well enough, although they still lack clarity on a number of major issues. Among them we should mention technology transfers and intellectual property, as Reuters uncovered.
By the way, American leader is anticipated to meet with China’s Vice Premier Liu He soon.
In addition to this, the common currency rallied because of the weaker evergreen buck. The currency pair EUR/USD soared by 0.18% being worth 1.1352.
As for the UK currency, the pound revived a bit having dived earlier in the session in the face of news that a vote on a Brexit deal next week isn’t probable. The currency pair GBP/USD tacked on by 0.1% concluding the trading session at 1.3062.
Meanwhile, the currency pair AUD/USD went up by up to 0.68% coming up with a reading of 0.7139. As for NZD/USD, this pair jumped by about 0.6% showing 0.6842.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
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.
|
