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 gains some ground on American rate lift expectations
On Wednesday, the evergreen buck soared versus other key currencies, underpinned by rising hopes for a June rate lift in America, and as traders turned their attention to a major American employment report, expected to emerge at the end of the week.
The currency pair EUR/USD went down 0.11%, hitting 1.1174.
On Tuesday, the evergreen buck sagged after Tuesday’s data disclosed that the CB consumer confidence index went down to 117.9 in April, which doesn’t match hopes for a soar to 119.8.
However, the American Commerce Department told that consumer spending inched up 0.4% the previous month, which is in line with economists’ predictions. It turned to be the biggest soar in four months.
The major American currency has also been suppressed amid fears that investigations into Donald Trump's relationships with Russia could block his administration's progress on recently promised stimulus measures.
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 USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?
The winter is coming, and risky markets expect a rally to come with it. Will this December be bullish for stocks, crypto, and gold? A pack of news will surely help you out.
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…