
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 Thursday, the US currency stabilized to a basket of leading currencies, underpinned by a rise in US Treasury bond yields. It’s because investor appetite for risky assets improved, although the continued concern about the Washington-Beijing trade dispute limited the growth of the currency.
The US dollar index dived 0.02%, diving to 89.608 having ascended 0.1% on Wednesday.
The evergreen buck tacked on by 0.17% to yen to 107.41 yen.
Strengthening of the dollar was limited taking into account the growth in yield on 10-year treasury bonds, which gained more than 5 basis points yesterday, demonstrating the maximum one-day revenue since March 2.
The common currency rallied by 0.07% to $1,2381 after a slight ascend the day before.
The Japanese yen didn’t react to the meeting between US President Donald Trump and Japanese Prime Minister Shinzo Abe, who agreed to intensify consultations on trade issues.
The Turkish lira went down versus the dollar after rising more than 2% the day before due to the fact that the country's President Tayyip Erdogan called for early elections in June, which is more than a year earlier than planned.
The Turkish lira dived by 0.21% against the Us dollar hitting 4.02 lira per dollar.
The Canadian dollar dived 0.6% to the US dollar after the comments of the Bank of Canada, which investors found not aggressive enough.
On Wednesday, the regulator told that it will keep lifting the rate, refraining from this decision at the end of the April meeting, but noted that it does not know when it will be required and how aggressive the policy should be tightened to keep inflation.
On Thursday, the Canadian dollar rose 0.07% to C$1.2618, although drifted away from the seven-week maximum of C$1.2528 hit before the regulator's gathering.
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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