
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
On Monday, the US currency rallied versus a basket of the other key currencies right after the US Senate successfully passed a tax bill at the weekend, thus spurring expectations for a faster tempo of rate lifts from the major US bank.
The evergreen buck was underpinned by hopes that tax cuts for corporations are going to back the American economy, and also push Treasury yields up because the US government becomes more dependent on debt thanks to reduced tax income.
Market participants were still cautious amid worries over the everlasting Russia probe, reacting to Friday’s reports that ex-national security adviser Michael Flynn is ready to testify against US President Donald Trump in the long-lasting investigation.
The US currency gained ground against the Japanese yen. USD/JPY inched up 0.64% hitting a two-and-a-half week maximum of 112.91.
The common currency dived versus the greenback, with EUR/USD decreasing 0.23% being worth 1.1868.
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
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.
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.
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.
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