The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Yen heads south as BOJ keeps asset buys steady
On Friday, the Japanese yen stayed weaker after the Bank of Japan held monetary policy intact as expected, including the tempo of asset purchases at ¥80 trillion every year.
The currency pair USD/JPY showed 11.16, soaring 0.21%, while AUD/USD hit 0.7596, soaring 0.21%. The currency pair GBP/USD went up 0.15%, being worth 1.2776.
The US dollar index, assessing the greenback’s value versus six crucial currencies, lost 0.02%, being worth 97.48.
Overnight, the greenback remained close to two-week peaks versus a basket of key currencies, underpinned by upbeat economic data, raising sentiment on the prospect of stronger American economic surge.
The British pound turned to be one of the few currencies, which shrugged of a soar in the greenback, with GBP/USD, leaping as the BoE kept rates intact, though stoked hopes of a future rate lift, disclosing that a soaring number of its members appreciated higher rates.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!