
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 Friday, the US currency sank and re-approached a six-month minimum versus other key currencies because American political turmoil kept weighing on the US dollar, overshadowing the previous trading session’s positive American data.
The currency pair EUR/USD managed to acquire 0.47%, demonstrating 1.1155, which is below Thursday’s six-month high of 1.1173.
The US dollar briefly grew after the issue on Thursday of positive data on American initial jobless claims as well as manufacturing activity in the Philadelphia area.
The currency pair GBP/USD jumped 0.59%, trading at 1.3016, which is off last session’s eight-month peak of 1.3051.
As for USD/JPY, it kept to 111.49. Meanwhile, USD/CHF went down 0.23%, being worth 0.9776.
The Australian dollar showed better results, with AUD/USD soaring 0.44%, getting to 0.7451. The currency pair NZD/USD decreased 0.09%, trading at 0.6895.
Besides this, USD/CAD lost 0.23%, hitting 1.3572.
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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