A Week in the Market: USD Performance and Outlook for Other Currencies (5-9 February)
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2024/02/05.02.2024-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="A Week in the Market: USD Performance and Outlook for Other Currencies (5-9 February)" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>While this week may favour the US dollar, the release of new statistical data could alter the situation. </p>
<h2>USD: remaining in a strong position</h2>
<figure><img decoding="async" width="1200" height="627" src="https://blog.roboforex.com/wp-content/uploads/2020/04/usd-1200×627.jpg" alt="USD: remaining in a strong position" class="wp-image-3471" srcset="https://blog.roboforex.com/wp-content/uploads/2020/04/usd.jpg 1200w, https://blog.roboforex.com/wp-content/uploads/2020/04/usd-360×188.jpg 360w, https://blog.roboforex.com/wp-content/uploads/2020/04/usd-768×401.jpg 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure><p>Significant statistics from the US will be scarce, but the PMI parameters and information on the ISM index in January are noteworthy among the upcoming releases. The USD remains robust as investors no longer expect the Federal Reserve to reduce the <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> in March but hope for a change in May.</p>
<h2>JPY: another inflationary signal</h2>
<figure><img decoding="async" width="1200" height="627" src="https://blog.roboforex.com/wp-content/uploads/2019/12/usdjpy-1200×627.jpg" alt="JPY: another inflationary signal" class="wp-image-2432" srcset="https://blog.roboforex.com/wp-content/uploads/2019/12/usdjpy.jpg 1200w, https://blog.roboforex.com/wp-content/uploads/2019/12/usdjpy-360×188.jpg 360w, https://blog.roboforex.com/wp-content/uploads/2019/12/usdjpy-768×401.jpg 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure><p>Japan is poised to present a crucial <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> indicator – the household spending index in December, illustrating how citizens spend their money. The index is projected to shift from −2.9% to −2.0% year-over-year, which would be positive news for the <a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">JPY</a>.</p>
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<h2>China: support for risky assets</h2>
<figure><img loading="lazy" decoding="async" width="1200" height="627" src="https://blog.roboforex.com/wp-content/uploads/2021/01/china.jpg" alt="China: support for risky assets" class="wp-image-6602" srcset="https://blog.roboforex.com/wp-content/uploads/2021/01/china.jpg 1200w, https://blog.roboforex.com/wp-content/uploads/2021/01/china-360×188.jpg 360w, https://blog.roboforex.com/wp-content/uploads/2021/01/china-768×401.jpg 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure><p>China is gearing up to release an abundance of crucial data from the inflation rate to the producer price index in January, before the long New Year holidays. Robust reports are expected to support assets linked to risk. </p>
<h2>EUR: potential weakening</h2>
<figure><img loading="lazy" decoding="async" width="1200" height="627" src="https://blog.roboforex.com/wp-content/uploads/2020/08/euro-1200×627.jpg" alt="EUR: potential weakening" class="wp-image-5293" srcset="https://blog.roboforex.com/wp-content/uploads/2020/08/euro.jpg 1200w, https://blog.roboforex.com/wp-content/uploads/2020/08/euro-360×188.jpg 360w, https://blog.roboforex.com/wp-content/uploads/2020/08/euro-768×401.jpg 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure><p>The eurozone is set to publish minimal vital statistics. It is worth paying attention to the services PMI in January, which is projected to decline from 48.8 to 48.4 points. This would be negative news for the <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR</a>, given its weakened position.</p>
<h2>AUD: focus on the interest rate</h2>
<figure><img loading="lazy" decoding="async" width="1200" height="627" src="https://blog.roboforex.com/wp-content/uploads/2020/01/audusd-1200×627.jpg" alt="AUD: focus on the interest rate" class="wp-image-2682" srcset="https://blog.roboforex.com/wp-content/uploads/2020/01/audusd.jpg 1200w, https://blog.roboforex.com/wp-content/uploads/2020/01/audusd-360×188.jpg 360w, https://blog.roboforex.com/wp-content/uploads/2020/01/audusd-768×401.jpg 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure><p>At its next meeting, the Reserve Bank of Australia will likely maintain the interest rate at 4.35% per annum. The <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD</a> exchange rate will depend on the regulator’s comments. The RBA will probably cut the rate in early summer.</p>
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<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2024/02/05/a-week-in-the-market-usd-performance-and-outlook-for-other-currencies-5-9-february/">A Week in the Market: USD Performance and Outlook for Other Currencies (5-9 February)</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>
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