Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Yen stands still after BOJ leaves policy intact
On Tuesday, the Japanese yen stood still after the BOJ held policy intact and told that its asset purchase program is still intact.
The currency pair USD/JPY hit 110.91, staying intact, while AUD/USD reached 0.7993, sliding 0.29%.
The Bank of Japan didn’t change its monetary policy. The country’s key financial institutions reaffirmed its Y80 trillion in annual asset buying as well as its yield curve strategy.
Estimating the US currency’s strength versus a basket of six crucial currencies, the US dollar index stood still, sticking to 90.15.
Overnight, the evergreen buck regained some of its losses versus a basket of key currencies amid reports telling that the government obtained enough support in the Senate to finally cope with the government shutdown.
Other currencies were still firm versus the US currency, taming its rebound from minimums because the British pound kept rising.
The common currency rebounded from peaks ahead of the ECB gathering on Thursday.
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.
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.
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.
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.