How to trade the JPY?
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 goes down in Asia on Trump
On Tuesday, the evergreen buck descended in Asia because financial markets digested the latest controversy in the Trump administration after the Washington Post suggested Trump might have given Russian diplomats secret details on Middle Eastern intelligence sources. Meanwhile, the Australian dollar held revenues after the publication of minutes.
The currency pair AUD/USD hit 0.7422, soaring 0.12%. Additionally, USD/JPY reached 113.54, descending 0.21%.
The Reserve Bank of Australia issued the minutes from its May gathering and also focused on the overheated housing market. The bank also paid attention to evident signs of softness in job creation as major signposts for the overall direction of interest rates.
Overnight, the major US currency slid versus a basket of main currencies, following weaker than expected American manufacturing data, which applied pressure on market sentiment, while a soar in the Canadian dollar contributed to downside momentum.
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What Currency Will Overperform?
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.
Investor Positivity May Fade After Powell's Speech and CPI Release
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.
What Can Rule the Roost in January 2023?
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