The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Greenback slumps vs. counterparts ahead of American GDP data
On Friday, the greenback decreased versus other key counterparts because recent comments by the Fed kept weighing. Moreover, traders were still waiting for the publication of second-quarter surge data due later in the day.
The currency pair EUR/USD gained 0.15% trading at 1.1694, which is not far from Thursday’s two-and-a-half year maximums of 1.1777.
The Fed’s cautious tone on inflation generated fresh uncertainty over the likelihood of a third rate lift in 2017.
The major US bank also told that it expected to start shrinking its balance sheet in the nearer future, thus powering hopes for an announcement already in September.
The currency pair GBP/USD gained 0.17% trading at 1.3088, drifting away from last session’s 10-month maximum of 1.3159.
USD/JPY tumbled 0.31% being worth 110.91.
Meanwhile, in June, Japan’s household spending soared by 1.5%, ruining expectations for a 0.1% sag.
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?