
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.
Don’t waste your time – keep track of how NFP affects the US dollar!
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As the situation with coronavirus got worse during the weekend, the Federal Reserve and the Reserve bank of New Zealand cut their interest rates in response to the treats to global economy.
The eventful Sunday began with the Reserve bank of New Zealand slashing its interest rate by 75 basis points to 0.25%. Against the USD, the New Zealand dollar has tested the 0.6 level on the announcement.
Just two hours later, the Federal Reserve also cut the interest rate, moving it within the range of 0-0.25%. In addition, the regulator softened the loans conditions for the banks, i.e. increased the length of the discount window to 90 days and reduced reserve requirement ratios to 0%. To boost the economic conditions, the Fed launched a new round of quantitative easing program in $700 billion.
The surprising news pulled EUR/USD lower at first to the 100-period SMA at 1.11 on H4, but then the pair inched up to 1.1212.
Basically, the situation is not getting any better, and the central banks try to do their best to response the uncertainties surrounding the virus outbreak. Up next we will hear the breaking announcement of the Canadian government later today, the comments by the EU finance ministers, and the G7 video conference at 16:00 MT time. Follow the news with us to be updated on the events!
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.
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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.
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.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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