Today the global forex and commodities market is looking quite active, where on one side the US Dollar is maintaining its strength, while on the other side geopolitical tensions and central bank updates are continuously impacting market sentiment. Traders’ eyes are now focused on economic data, Fed expectations, BOJ policy
Traders Focus on CAD Data as Major Markets Remain in Holiday Mode The forex market may remain relatively slow today as bank holidays in the USD, GBP, EUR, and CHF markets are keeping major participants away from trading activity. This simply means that fewer institutional players will be active, trading
Today in forex market AUD remained under pressure after weak employment data, while EUR PMI data remained mixed where manufacturing was somewhat strong but services were weak. Due to geopolitical tensions and Fed’s hawkish tone, USD and JPY received support, resulting in overall risk-off sentiment in the market. Gold and
In today’s forex trading market, pressure was seen on GBP when UK CPI y/y data was released at 3.0%, which was lower than the market expectation of 3.3%. After weaker-than-expected inflation data, traders now believe that the Bank of England may not maintain as aggressive a stance on interest rates
Today’s economic calendar is quite important, especially for CAD and GBP currencies, because the market focus will remain on inflation and employment data. Canada’s CPI m/m data is expected at 0.7%, slightly lower than the previous 0.9%. This means the market is expecting inflation pressure to cool down slightly. However,
Today’s Economic Calendar: Market Calm, Focus on BOE Speeches and Key Data In today’s economic calendar, there are no major high-impact red or orange folder events, so the market may remain relatively calm and range-bound overall. However, traders will still keep an eye on some important medium-impact updates. New Zealand’s