The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Greenback drops to lowest vs yen since November
On Monday, the major US currency declined to its lowest value against the Japanese yen since late November in Asia on heightened political risk worries as a Republican-controlled Congress as well as presidency are actually in focus to deliver on economic plans for tax drops and spending following a failed attempt to reform healthcare.
The US dollar index, tracking the greenback’s actual value against a trade-weighted basket of six crucial currencies, dived 0.47%, trading at 99.12.
In Japan, the corporate services price index inched up 0.8% year-on-year, thus ruining an expected 0.5% surge.
The currency pair USD/JPY showed 110.36, sliding 0.91%, AUD/USD hit 0.7624, standing still.
Meanwhile, Prime Minister Theresa May is going to set out how her government intends to restore sovereignty over the UK’s laws on Thursday, releasing a detailed paper on ceasing the supremacy of EU lawmakers.
The currency pair GBP/USD hit 1.2520, jumping 0.38%.
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.
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.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!