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 decreases ahead of American data
On Friday, the evergreen buck sank versus other key currencies because market participants eyed the publication of American economic reports later in the day and as the minutes of the Fed’s latest policy gathering kept weighing.
The currency pair EUR/USD headed north 0.12%, being worth 1.1222.
The US dollar was still underpinned by Thursday’s better than expected American initial jobless claims data.
The data arose just a day after the minutes of the Fed’s May gathering unveiled that the US major bank intends to unwind its balance sheet towards the end of 2017, probably utilizing a system where cap limits are implemented on how much the Federal Reserve would roll off every month without getting down to reinvesting.
The Federal Reserve also indicated that interest rates could be lifted in the nearer future. In addition to this, he stressed that it would be rational to wait for more American economic data.
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.
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.