Three Currencies to Watch This Week
We prepared an outlook of major events of this week. Check it and be ready!
Yen drops in Asia
On Friday, the Japanese yen held weaker against the greenback in Asia, with trade light as well as direction focused on end of the week indicators in America, including consumer sentiment.
The USD/JPY hit 113.46, ascending 0.13%, while AUD/USD reached 0.7683, soaring 0.08%. Meanwhile, GBP/USD showed 1.2353, tumbling 0.04%, while EUR/USD gained 0.07%, being worth 1.0774.
The US dollar index, estimating the greenback’s value against a trade-weighted basket of six crucial currencies, declined 0.03%, hitting 100.06, losing more than 1% on the week.
On Friday, the People's Bank of China set the Yuan mid-point at 6.8873 against the greenback, compared with the previous outcome of 6.9003.
Overnight, the evergreen buck traded lower after the Fed failed to adopt a more aggressive outlook as for the pace of rate lifts this year.
The British pound traded steeply higher against the greenback, reaching a two week peak of $1.2373, after the Bank of England left interest rates intact, though hinted that a rate lift could be in the pipeline.
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Crucial News For The Following Week
Consumer Price Index, Existing Home Sales, US Fed rate decision - all of these things we will discuss in our new review. Don't miss it out!
Focus on Banks' Meeting and NFP
The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.
