The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Greenback is still backed ahead of American jobs data
On Friday, the evergreen buck was still higher versus other key currencies, as market participants were eyeing the publication of highly-anticipated American employment data due later in the day.
The US currency was pressured after the publication of quite mixed American economic reports on Thursday.
On Thursday, payrolls processor ADP informed that in December American private employers generated up to 250,000 jobs, which is above experts’ expectations.
According to a separate report, the previous week American jobless claims soared by 3,000 to 250,000, thus disappointing hopes for a 6,000 dip.
The common currency and the British pound headed south, with EUR/USD sinking 0.12% to 1.2052 and with GBP/USD diving 0.08% trading at 1.3536.
As for the Japanese yen and the Swiss franc, they kept tumbling with USD/JPY gaining 0.39% to 113.18 and with USD/CHF earning 0.31% being worth 0.9769.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!