The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Greenback and euro go up versus yen
On Tuesday, the evergreen buck along with the common currency moved up versus the Japanese yen, spurred by diverging outlooks for economic surge as well as tighter monetary policy.
The euro ascended versus the Japanese yen, with EUR/JPY hitting 123.95, which is not far from the one-year high of 124.61 reached on Monday in the aftermath of Emmanuel Macron’s persuasive victory in the French presidential election.
Macron’s win indicated that political risks in France as well as across Europe are definitely receding, in the wake of the populist soar that resulted in Brexit and also propelled Trump to the White House.
Demand for the euro kept being backed by indications of an improving economic outlook in the EU and as concerns over political risk relieved.
According to recent economic reports, the economic revival in the euro area is currently gaining momentum, and it’s supposed to give the ECB more room to tighten monetary policy before the end of 2017.
EUR/USD decreased 0.27%, reaching 1.0894, having achieved 1.1021 on Monday, which is the highest value since early November.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.