
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 evergreen buck soared versus other key currencies because it mildly revived from losses posted last week due to mounting worries over the fate of a highly-anticipated American tax reform.
On Thursday, Senate Republicans unveiled a tax plan. It stood out from the one made by House Republicans. It highlighted the challenges to clarify the differences between the two opposite initiatives with a short time before the end of 2017 they have set to pass it.
Expectations of tax reform have helped to spur the evergreen buck since mid-September. Some market participants are assured that tax reforms could ensure growth, applying pressure on the Fed to lift interest rates.
Estimating the greenback’s value against a trade-weighted basket of six crucial currencies, the US dollar index soared 0.25% being worth 94.54.
The currency pair EUR/USD slumped 0.22% hitting 1.1640, GBP/USD lost 0.84% trading at 1.3081.
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.
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
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.
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