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 soars on positive American data but dipping yields cap profits
On Thursday, the evergreen buck tacked on versus a basket of its rivals after data shed more upbeat light on the American economy, but diving Treasury yields tempered the greenback's revenue.
The dollar index grew 0.05% versus a group of six key currencies hitting 93.500.
It had sunk 0.1% yesterday because rumors that the next Fed Chair could be a less hawkish nominee than expected knocked it off seven-week maximums.
The US currency managed to rebound after Wednesday's data demonstrated that American service sector surge showed its fastest tempo for 12 years in September. Moreover, private employers generated more jobs than anticipated notwithstanding Hurricane Harvey and Irma.
However, the revenues were kept in check with Treasury yields, which rebounded from three-month maximums.
The common currency traded a shade lower hitting $1.1757 having gained 0.1% overnight.
Having hit 112.920 yen early in the day the greenback was intact sticking to 112.740 having tumbled to 112.320 on Wednesday.
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 ECB is expected to raise the interest rate to 1.5% and oil is falling
Good morning, our dear traders! Are you ready for the news that is worth following for trading today? Let’s see! Today’s events: 14:00 GMT+2, EUR, ECB President Lagarde Speaks 16:30 GMT+2 CHF, Gov Board Member Maechler Speaks Bitcoin’s…
It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.