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:
US currency regains footing after American government shutdown
On Monday, the evergreen buck regained some footing having dived earlier on an American government shutdown, underpinned by higher Treasury yields. Meanwhile, traders took rather a calm view of the crisis in Washington.
On Friday, the American government shutdown occurred after Republicans and Democrats, locked in a fierce clash as for immigration as well as border security, turned to be unable to agree on a last-minute deal to finance government operations.
On Sunday, Republican and Democratic leaders held negotiations for the purpose of breaking the impasse.
The US dollar index versus a basket of six key currencies initially went down to 90.155, although last it gained 0.1%, managing to stay above the three-year minimums of 90.113 reached on Thursday.
The euro declined to $1.2221 having soared to $1.2275, although unable to regain the three-year maximum of $1.2323 hit on Wednesday.
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Market Crash Incoming?
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.
What Currency Will Overperform?
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.
Investor Positivity May Fade After Powell's Speech and CPI Release
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.
