Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
US currency dives as market pauses
On Wednesday, the evergreen buck went down versus a basket of crucial counterparts because financial markets weighed rumors over who is going to be the next Fed Chair. They were also waiting for American jobs data to be published later this week.
Measures the greenback’s value versus a trade-weighted basket of six main currencies, the US dollar index slumped 0.2% being worth 93.23, drifting away from Tuesday’s one-and-a-half month maximum of 98.78.
Market sentiment on the greenback was dented due to rumors that US Treasury Secretary Steven Mnuchin actually favors Fed Governor Jerome Powell over ex-governor Kevin Warsh to head the key US financial institution.
The evergreen buck went down against the Japanese yen, with USD/JPY declining 0.19% being worth 112.63.
The common currency inched up, with EUR/USD soaring 0.17% hitting 1.1764, drifting away from Tuesday’s one-and-a-half month minimum of 1.1695.
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.