Global Events Impacting Forex Markets This Week

With the continuous ⁤changes in​ the global landscape, it is important for ⁢ traders to stay up to date⁣ on‍ the‌ events that are impacting the forex market. This week, the focus⁢ is on the potential for economic downturns, trade wars, and other key events that have ⁣the potential to heavily influence ‍exchange rates. In ‌this article, we will look at the global events that ‌are influencing forex ⁣this week⁣ and what they mean for traders. 1. US Non-Farm Payrolls: The US Non-Farm Payrolls report for the month of August is ‌due out on Friday, providing investors with an insight into the strength of the US labor market. This report is expected to show that the US⁤ economy added around 1.4 million jobs in ⁢August, while⁤ the unemployment rate is expected to remain unchanged at 8.4%.

2. Chinese Yuan (CNY): China​ is expected to devalue‌ the Yuan‌ in order⁣ to cushion the ​impacts ​of ‌US tariffs. This move could have a considerable impact on global ⁣forex markets and is something all‍ traders ⁣should be keeping an eye on.

3. European Central Bank (ECB): The ECB is due to hold its monthly monetary policy meeting⁢ on Thursday. Any decisions on rates ⁢or easing measures could shape‍ the ‌euro’s future performance.

4. Bitcoin: Cryptocurrency markets have‌ been ⁢incredibly volatile of late, with Bitcoin‌ slipping to its lowest levels since May. The digital‌ currency could continue ‍to see significant price swings this week.

5. Oil Prices: Oil prices have started to fall thanks to a stronger US dollar, increasing⁣ fears of oversupply. This could⁤ also affect the forex markets if it continues to fall.

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