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 dives in Asia on Fed rate views
On Thursday, the evergreen buck sagged in Asia because Fed minutes unveiled an increased debate about another rate lift in 2017 as well as the political backlash against Donald Trump's recent remarks on racist confrontations in Virginia definitely put pressure on the US currency.
The US dollar index, estimating the greenback’s value versus a trade-weighted basket of six crucial currencies, dived 0.16% trading at 93.26.
The currency pair USD/JPY reached 109.78, descending 0.37%, AUD/USD hit 0.7937, heading north 0.15%.
Meanwhile, Japan posted July’s trade balance figures with a surplus of about ¥492 billion, which is wider than the expected ¥392 billion, along with a 16.3% profit in imports, a bit weaker than the 17% revenue observed, and a 13.4% soar in exports, missing the 13.6% soar seen.
In Australia, the employment change demonstrated +27,900 jobs in July, surpassing 20,000 jobs actually expected for an unemployment outcome of 5.6% as observed.
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.
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
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.