How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
UK manufacturing slowdown is neglected by British pound
On Thursday, the British pound held its revenues versus the evergreen buck notwithstanding data disclosing that in January British factory surge stepped down to a seven month minimum because new orders along with output slowed.
The currency pair GBP/USD rallied 0.40% being worth 1.4245, staying below a session maximum of 1.4274.
Markit, research company informed that in January the British manufacturing purchasers’ index went down, reaching 55.3 versus December’s reading of 56.2.
By the way, market experts had predicted a result of 56.5.
It shows that surge stepped down, although it’s still fluctuating over the long-term average.
The informed that the previous month output surge as well as new order growth inched down, while raw material costs edged up. It backed input costs and made businesses lift prices.
Market experts pointed to rather an undesirable combination of soaring prices and slower surge in the beginning of this year. They added that demand will require strengthening in the short term to avert further surge momentum being lost soon.
Demand for the UK currency kept being supported by everlasting weakness in the evergreen buck as well as optimism as for the British economy and also the prospect of a Brexit pact, which appears to be more advantageous to Great Britain.
The British pound ascended a bit versus the common currency, with EUR/GBP losing 0.13% trading at 0.8735.
As for the euro zone, Thursday’s data revealed that in January factory ascend was still firm.
The euro zone manufacturing PMI demonstrated 59.6, which is a bit down from December’s record maximum of 60.6.
Besides this, the common currency managed to ascend versus the greenback, with EUR/USD soaring 0.27% hitting 1.2446, which is not far from the more than three year maximum of 1.2537 hit the previous week.
Similar
Is Inflation Defeated?
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.
Who Will Rule the US?
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.
Latest news
Oil Experiences an 11% Weekly Loss
The ECB is expected to raise the interest rate to 1.5% and oil is falling
Bitcoin might fall deeper
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…
China Stocks are About to Jump
It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.
