
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
On Monday, in Asia, the evergreen buck soared versus most other currencies due to the fact that market participants are waiting for further news on China trade negotiations.
Tracking the purchasing potential of the US currency against a number of its main peers the USD index jumped by up to 0.1%.
The previous week the USD index managed to rally by 1.2% on fears about a weakening global economy as well as soaring uncertainties surrounding the US-China trade conflict. What’s more, it appeared to be the currency’s most impressive weekly ascend since May last year.
Progress in China-US trade negotiations will probably become one of the key drivers of the financial markets this week because high-level statesmen gather in Beijing for another round of talks bursting out on Monday after the last meeting between the two sides resulted in no deal.
The two leading countries are struggling to come to a compromise before the 90-day truce between the trading partners expires on March 1. American leader has threatened to ramp up levies on Chinese goods if the deadline ends up without a deal.
This week, market participants are expected to receive an update on American inflation.
Consumer prices report is anticipated to show up on Wednesday. As for producer prices as well as December retail sales figures, they will be uncovered on Thursday.
Besides this, the currency pair USD/CNY rallied by 0.5%.
The Shanghai Composite along with the Shenzhen Component headed north having returned from a week-long Lunar New Year holiday.
On Thursday, China is expected to reveal its latest trade figures. The day after China will uncover its data on inflation.
The currency pairs AUD/USD and NZD/USD tacked on by 0.2%.
This week, the Reserve Bank of New Zealand will uncover its benchmark interest rate.
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
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.
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.
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.
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.
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.
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