How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Greenback adds in Asia as market shrugs off NKorea
On Monday, the evergreen buck gained a lot in Asia, with the market monitoring the progress of Donald Trump's first foreign visits as president with a bunch of deals signed in Saudi Arabia in the first stop. Additionally, traders shrugged off the weekend’s recent missile test by North Korea.
In Japan, the trade balance appeared to be weaker than expected, showing ¥482 billion for April, unlike a surplus of ¥521 billion observed.
The currency pair USD/JPY reached 111.57, rallying 0.28% after the data.
The currency pair AUD/USD slumped 0.19%, being worth 0.7447. As for GBP/USD, this pair dipped 0.32%, trading at 1.2993 after an opinion survey demonstrated the lead of conservatives reduction by half in a Survation telephone survey issued on Monday.
The previous week, the greenback resumed its descend on Friday. It notched its greatest weekly dip in almost a year because political turbulence around the Trump administration kept dominating market sentiment.
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What Currency Will Overperform?
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.
Investor Positivity May Fade After Powell's Speech and CPI Release
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.
What Can Rule the Roost in January 2023?
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