These economic events will or may affect the market directly or indirectly so I urge that we as traders do our individual analysis and manage risk properly.
USD ahead of PPI & Powell today
EUR EZ & GE ZEW hits Aug high
GBP mixed jobs report
CHF stronger PPI
JPY extends slide despite stronger PPI
NZD lags after spending report
AUD trails on possible new US 🇨🇳 China tariffs
USD: The US dollar is declining ahead of the release of the Producer Price Index (PPI) and Jerome Powell’s speech today. Traders may adjust their positions in anticipation of potential market-moving announcements and seek clarity on the Federal Reserve’s monetary policy outlook. But today the US Core PPI m/m was good due to greater than forecast, which gave the Dollar a little boost pending Powell’s speech (FED). Signals a stronger us dollar.
EUR: The euro is rising as economic sentiment in the Eurozone and Germany, as measured by the ZEW indicator, reaches its highest level since August. Positive economic data from the Eurozone boosts confidence in the region’s recovery, supporting the euro against other currencies.
GBP: The British pound is increasing following a mixed jobs report in the UK. While the report may contain some negative indicators, overall market sentiment towards the pound remains positive, likely driven by broader economic factors and expectations for future monetary policy decisions.
CHF: The Swiss franc is strengthening in response to a stronger-than-expected Producer Price Index (PPI). Higher inflationary pressures in Switzerland may lead to speculation about potential changes in monetary policy, supporting the Swiss franc against other currencies.
JPY: Despite a stronger-than-expected Producer Price Index (PPI), the Japanese yen continues to decline. The yen’s weakness may be attributed to broader market trends, such as risk appetite and capital flows, which currently favor other currencies over the yen.
NZD: The New Zealand dollar is slow after a decrease in spending reported. Lower consumer spending in New Zealand may raise concerns about the country’s economic recovery and impact the outlook for future interest rate decisions by the Reserve Bank of New Zealand (RBNZ).
AUD: The Australian dollar is trailing due to concerns about potential new tariffs between the US and China. As Australia’s largest trading partner, China’s economic outlook and trade relations with the US can significantly impact the Australian dollar’s performance. As a trader, I advise precaution due to the uncertainty surrounding trade tensions between the world’s two largest economies.
Disclaimer: Forex trading carries risks and may not be suitable for all investors. Past performance is not indicative of future results. Consider your financial situation and risk tolerance before trading. Consult a financial advisor for advice. Only trade with funds you can afford to lose.
