Ready to Start Trading?
Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.
Apply onlineAny Questions?
Contact us:
phone: +1 849 9370815
email: sales@tradersway.com
USD
The US dollar lost ground on Friday as risk appetite stayed strong until the end of the week.
Data from the US economy was mostly stronger than expected, with the headline PPI showing a flat reading instead of the projected 0.1% dip and the core PPI printing a 0.3% gain versus expectations of a 0.1% uptick. However, the preliminary UoM consumer sentiment reading turned out to be a disappointment as the index fell from 91.9 to 85.7, reflecting weaker optimism. There are no reports due from the US today.
EUR
The euro managed to recover against most of its forex rivals, despite the lack of top-tier data from the euro zone. Only the region's industrial production reading is up for release today and a 0.3% rebound is set to follow the previous 0.4% decline. Stronger than expected data could continue to keep the shared currency afloat.
GBP
The pound enjoyed a few gains on Friday but was mostly stuck in consolidation ahead of this week's top-tier events. There are no reports due from the UK today, allowing traders to price in expectations ahead of tomorrow's CPI release, Wednesday's jobs report, and Thursday's retail sales release.
CHF
The franc regained a lot of ground to the dollar last week even though there were no reports released from Switzerland on Friday. Swiss PPI and retail sales figures are lined up today, with the former expected to show a 0.4% decline in prices and the latter likely to show a 1.5% annualized rebound from the earlier 0.9% drop.
JPY
The yen continued to lose ground during the pickup in risk appetite, spurred also by expectations of further easing from the BOJ. There have been no reports released from Japan then but the currency was still reeling from comments of BOJ official Shirai who mentioned that the central bank should keep an accommodative stance. Earlier today, Japan reported a 0.8% decline in industrial production and a 0.2% uptick in tertiary industry activity.
Commodity Currencies (AUD, NZD, CAD)
The comdolls managed to get back on their feet on Friday, as there were no reports that spurred risk aversion. Over the weekend, China reported a 6.1% gain in industrial production versus expectations of a 6.3% increase. Retail sales was slightly stronger than expected at 10.8% versus the estimated 10.6% rise. Meanwhile, fixed asset investment was weaker than expected at 10.9% instead of the estimated 11.2% increase.
By Kate Curtis from Trader's Way
Any Questions?
Email Us: sales@tradersway.com
Instrument | Bid | Ask | Spread |
---|
Instrument | Bid | Ask | Spread |
---|
Instrument | Bid | Ask | Spread |
---|
Instrument | Bid | Ask | Spread |
---|
2023 Martin Luther King Holiday Schedule
Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....
Learn more