Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
Evergreen buck keeps to 2-week maximum in quiet Good Friday trading
On Friday, the evergreen buck is holding near a two-week maximum, on what needs to be a quiet trading session for currencies with most other key American as well as global exchanges unavailable due to the observance of Good Friday.
The ICE Dollar Index, which is a gauge of the evergreen buck’s power against its key trading counterparts, demonstrated a reading of 97.352, heading south by about 0.1% since late Thursday. In fact, the index reached an intraday maximum of 97.43 that happens to be its highest value since April 5, as FactSet has recently informed.
The recent stream of better-than-anticipated data, in particular, the shocking narrowing of the American trade deficit in February, have backed upward updates of American Q1 GDP estimates, due a week from today. In fact, further indications that the world’s number one economy is facing a cushioned deceleration, could help to spur the evergreen buck because economic conditions in other key developed countries are still fragile.
As a matter of fact, the currency pair GBP/USD managed to reach $1.2997 in contrast with the outcome of $1.2978 recorded on Thursday.
The currency pair GBP/USD keeps trading around $1.30 without demonstrating a definite direction. As for shifts in domestic politics, they have been quite neutral this week. Aside from that, the Labour party have managed to move ahead as the probable winner of the next election, at least it’s ascertained by the recent surveys and bookies. Aside from that, the probability of an election has gone down (32% probability this year), as some financial analysts revealed.
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USD is waiting for the jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
Will the Australian Monetary Policy Meeting minutes support the AUD?
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
Latest news
Main market movements on August 11
The market sentiment improved after the USA reported some decreasing in coronavirus hospitalizations. Gold dropped below $2 000 and the US dollar dipped down, while stocks surged. Let’s have a closer look.
All attention to NZD
The RBNZ will make the monetary policy statement on August 12 at 5:00 MT time!
What drives the market on August 10?
The market has started the week with a mixed sentiment…
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