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.
Greenback ascends, euro dives after soar
On Monday, the US currency gained versus a basket of the other key currencies after data disclosing that American job surge cooled in December didn’t manage to change hopes for further Fed rate lifts this year.
Assessing the greenback’s value versus a trade-weighted basket of six key currencies, the US dollar index tacked on 0.25% reaching 91.98, adding from its January 2 dip of 91.47 that was the lowest reading since September 20.
In December, the American economy generated up to 148,000 jobs, according to the Labor Department, which is below the 190,000 estimate by financial experts.
The US currency briefly dived to the day’s minimums following the report before regaining ground.
Higher interest rates tend to drive the US currency by simply making it more attractive to yield-seeking traders.
The greenback started 2018 on the back foot after the US dollar index sank 9.8% last year, which is its biggest annual percentage drop since 2003.
The greenback rose versus the Japanese yen, with USD/JPY adding 0.25% reaching 113.33.
The common currency declined, with EUR/USD losing 0.25% hitting 1.1999.
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.
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.
Good morning, dear traders! Hope you’re doing great! Let’s talk about the news that is worth following today! Key market events: 15:30 MT, CAD GDP m/m 17:00 MT, GBP BOE Gov Bailey Speaks Oil is tensed again Oil rose as China refined its approach…
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Hello, dear traders! We hope you have a great day! Let’s see what news is worth following today! Market closing US stock exchanges will be closed due to the Thanksgiving holiday…