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 is nearly intact
On Wednesday, the evergreen buck and the Japanese yen were nearly intact in Asia because investors were still cautious against the backdrop of the Brexit uncertainty as well as trade tensions between American and the European Union.
The Japanese yen gained some support, backed by escalating US-EU trade conflict and also the International Monetary Fund's bearish update on global surge.
Eventually, the safe-haven currency pared some of its profit. Versus the evergreen buck, it last traded at 111.14, losing 0.03%.
On Monday, reports told that the EU and America could be set to slap tit-for-tat levies on each others' experts. America told it could be imposing levies on $11 billion worth of European experts. Responding to that move, the European bloc told it’s ready to come up with countermeasures.
Besides this, assessing the greenback’s purchasing power versus a number of its main rivals the USD index was generally intact, sticking with 96.637.
By the way, investor sentiment was further affected today right after the IMF reduced its 2019 American surge outlook from 2.5% to 2.3% in January and reduced its 2019 global surge outlook to 3.3% that happens to be the lowest outcome since the financial downtime.
Looking ahead, traders’ focus will be on an ECB meeting as well as the publication of minutes of the Fed’s last policy gathering.
British lawmakers voted ahead of a Brexit summit meeting on Thursday to accept Prime Minister Theresa May's plan to postpone the UK’s departure from the EU to June 30.
The currency pair EUR/USD stood still, showing 1.1260. Meanwhile, the currency pair GBP/USD rallied by 0.1% being worth 1.3069.
In addition to this, the currency pairs AUD/USD and NZD/USD gained respectively 0.2% and 0.1%.
Similar
USD and GBP Traders Await Big Moves
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
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
Market Crash Incoming?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
What Currency Will Overperform?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
Investor Positivity May Fade After Powell's Speech and CPI Release
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
