Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Kiwi dips following NZ data
On Monday, the New Zealand dollar tumbled versus its US rival, after inflation expectations in New Zealand decreased for the last quarter. Meanwhile, the Australian dollar was intact because financial markets were still digesting Friday’s positive American jobs reports.
The currency pair NZD/USD went down 0.18% being worth 0.7397.
A bit earlier, the Reserve Bank of New Zealand told its inflation expectations slumped from 2.2% to 2.1% during the second quarter for the three months.
The currency pair AUD/USD was nearly intact, sticking to 0.7933. As for trading volumes, they were expected to stay thin with Australian markets unavailable due to a national holiday.
The US currency remained backed after on Friday the US Labor Department informed that the US economy managed to add up to 209,000 jobs the previous month, ruining expectations for a leap of 183,000.
In July, the unemployment rate went down to 4.3% from 4.4% last month, which is quite in line with expectations.
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.
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.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…