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 holds revenues in Asia notwithstanding soar in Japan wages
On Friday, the evergreen buck held revenues in Asia notwithstanding wages data in Japan turned to be firmer than anticipated.
The currency pair USD/JPY hit 112.83, soaring 0.01%, AUD/USD reached 0.7781, sliding 0.19%
Japan posted that average cash earnings tacked on 0.9% versus a 0.5% profit anticipated. Financial markets in China and South Korea are unavailable due to holidays.
Gauging the greenback’s value versus a trade-weighted basket of six main currencies, the US dollar index didn’t change, sticking to 93.77.
Overnight, the greenback managed to extend revenues and re-approach recent one-and-a-half month maximums versus other key currencies because a bunch of positive US economic reports drove optimism over the strength of the American economy amid fresh expectations for a December rate lift.
The US currency also grew after on Thursday Philadelphia Fed President Patrick Harker told that he’s still planning on one more rate lift in 2017 and up to three in 2018.
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.
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