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 is nearly intact as American tax vote eyed
On Thursday, the evergreen buck was fluctuating between minor revenues and losses versus a basket of the other crucial currencies because market participants waited for an anticipated vote on the US tax bill a bit later in the day.
Assessing the greenback’s value against a basket of six main currencies, the US dollar index hit 93.76 having dropped to 93.31 on Wednesday, which was its weakest reading since October 26.
The US currency gained some support after Politico informed that House Republicans are quite confident they have the votes to have a huge rewrite of the US tax code passed later on Thursday.
However, worries over the passage of the tax plan were still actual after on Wednesday two Republican lawmakers dared to criticize the bill.
The greenback soared against the Japanese yen, with USD/JPY rallying 0.21% being worth 113.12.
The common currency was intact versus the US currency, with EUR/USD sticking to 1.1788, which is off Wednesday’s one-month maximum of 1.1859.
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 central banks' meetings will highlight the week as well as the PPI release
Good Friday, traders! The markets are frozen ahead of today's NFP release at 15:30 GMT+2…
The USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?