
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 Wednesday, the New Zealand dollar held steady versus its American rival, after the issue of positive New Zealand employment data. Meanwhile, the Australian dollar declined ahead of the Federal Reserve’s approaching policy verdict.
The currency pair NZD/USD stood still, keeping to 0.6936, off a one-week peak of 0.6968 reached overnight.
Earlier on Wednesday, Statistics New Zealand told that the overall number of employed folks grew by 1.2% during the first quarter, thus ruining hopes for a 0.8% revenue and after a surge of 0.8% in the three months to December.
As for the unemployment rate, it declined to 4.9% during the first quarter from 5.2% last quarter, thus breaking hopes for an unchanged reading.
The currency pair AUD/USD went down 0.62% to reach 0.7487.
Meanwhile, market sentiment on the US dollar strengthened ahead of the Fed’s highly-anticipated monetary policy verdict a bit later in the day.
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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