Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
In Asia yen holds revenues on producer prices
On Monday, the Japanese yen held profits in Asia because producer prices inched up more than observed. Additionally, safe haven demand on dismal data from China rattled financial markets, while traders were also concerned with a recent North Korean missile test reportedly capable of carrying a relatively large nuclear warhead. Other worries included the potential spread of cyberattacks, which have already affected 200,000 victims in 150 countries.
The currency pair USD/JPY hit 113.36, sliding 0.02%. Besides this, AUD/USD showed 0.7389, soaring 0.16%.
In April, producer prices in Japan added 0.2% month-on-month and also 2.1% year-on-year.
Measuring the major American currency’s actual value versus six crucial currencies, the US dollar index inched up 0.01%, trading at 99.06.
Meanwhile, in Australia, in March home loans data quarter-on-quarter headed south 0.5%, unlike a 0.1% revenue expected.
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.