
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, the evergreen buck managed to surge versus the common currency and UK pound, backed by the relative strength of the American economy, although moves were still minor because many traders were still away for the long Easter weekend.
Eventually, financial markets in Hong Kong, Australia as well as many key countries in the European Union are unavailable on Monday for the Easter holiday. Currency trading is on worldwide, although the volume is anticipated to be light.
The evergreen buck has gained support for the last time on the back of a gradual ascend in American 10-year Treasury gains as well as signs of strength in the world's number one economy, in particular, better-than-anticipated retail sales in March after a dismal start to the year.
The USD index last dived by 0.1% hitting 97.369, diving a bit having demonstrated a 0.4% rally the previous week.
The USD index was still within shocking distance of its 2019 maximum of 97.71 recorded in early March.
Traders’ immediate focus is going to be on American existing home sales for March, as they require further cues on the health of the American economy.
In February, American home sales managed to rally to their highest value for 11 months because the American housing market demonstrated renewed momentum after a pause in interest rate lifts by the major US bank.
The common currency declined a bit, hitting $1.1244, thus contributing to previous week's losses of about 0.5% after Thursday’s data revealed that activity in Germany's manufacturing sector went down for the fourth month in a row in April.
The UK pound slumped by 0.05 reaching $1.2994, diving below the $1.30 mark and also about 0.4% off a two-month minimum of $1.2945 recorded in March.
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.
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.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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