Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
GBP/USD tries to overleap 1.3300
On Tuesday, the British pound kept the upbeat tone. The currency pair GBP/USD fluctuated within the 1.3325/20 band, reporting marginal revenues for the day.
Cable’s soar happens to have stumbled on a tough resistance in Monday’s tops approximately 1.3380, losing some ground along with some revival in the US dollar as well as renewed Brexit concerns.
Yesterday, the US currency has demonstrated some signs of life, reacting to the previous week’s abrupt pullback, simultaneously underpinned by a rebound in yields of the major American 10-year treasuries.
Back to Brexit, new worries as for the so-called Irish ‘hard border’ rekindled some jitters over the everlasting talks, capping the upside momentum.
BoE’s M.Carney told that financial institutions need to be capable of lending through disorderly Brexit.
In the UK docket there’s nothing scheduled for today. However, the speech by next Fed Governor J.Powell is expected to attract much attention later in the NA session.
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
The week will have the biggest event in the US political process over the last two years. How will the elections affect the Forex market? We covered the most important news of this week in this report.
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…