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 keeps tumbling on hawkish major banks
On Friday, the evergreen buck kept going down because key banks indicated that the epoch of cheap money was approaching its end in a boon to the euro, the Canadian dollar and the British pound while Asian shares were affected by dismal performances of EU and American markets.
Global stock market indexes are set for more revenues by the end of 2017, powered by an economic revival in the EU as well as bright prospects for Asia. That’s what a Reuters survey of 300 financial professionals disclosed.
The dollar index went down 0.1%, trading at 95.549, braced for a 1.8% dip this week, having sagged in all sessions.
The Korean won lost versus the greenback after the country posted industrial output grew by 0.2% in May from the previous month, missing hopes for surge of 1.5%. It followed a 2.2% sag in April.
Versus the Korean won the greenback soared 0.1%, trading at 1,142.5 won.
The US dollar sank 0.25%, being worth 111.95 yen, having lost 0.2% on Thursday.
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.