# Forex Major Currencies Outlook (Feb 01, 2017) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-feb-01-2017/ Language: en Updated: 2017-02-01 Description: Explore Forex Major Currencies Outlook (Feb 01, 2017). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar tumbled against its counterparts when President Trump called out China and Japan for currency devaluation tactics. For some, this was also a form of jawboning for the dollar. To top it off, economic data came in mostly in the red, with the CB consumer confidence index sinking from a downgraded 113.3 figure to 111.8 and the Chicago PMI dropping from 54.6 to 50.3. The ISM manufacturing PMI is due today and a rise from 54.7 to 55.0 is eyed, but all eyes and ears are likely to be on the FOMC statement. **EUR** The euro was able to take advantage of dollar weakness while riding higher against the commodity currencies as well. Euro zone headline flash CPI was stronger than expected at 1.8% versus 1.5% from the earlier 1.1% figure while the core reading was unchanged at 0.9% as expected. The flash GDP reading printed a stronger than expected 0.5% expansion versus the projected 0.4% growth figure. Final manufacturing readings from top euro zone nations and EU economic forecasts are lined up today. **GBP** The pound also climbed higher to the dollar even though medium-tier reports from the UK missed expectations. Net lending to individuals came in at 4.3 billion GBP versus the 5.3 billion GBP consensus. UK manufacturing PMI is due today and a fall from 56.1 to 55.9 is expected. **CHF** The franc chalked up another day of gains versus the dollar but gave up ground to the euro. There were no reports out of the Swiss economy yesterday while today has the manufacturing PMI due. A small rise from 56.0 to 56.1 is eyed but a higher than expected read could reinforce franc strength. **JPY** The yen held on to its gains as the BOJ refrained from making policy changes. In the presser, Governor Kuroda mentioned that CPI is likely to hit the 2% target by next year and that growth could go above potential by then. There are no major reports due from the Japanese economy today. **Commodity Currencies (AUD, NZD, CAD)** The comdolls were in a weak spot after New Zealand printed downbeat headline jobs figures. Employment change was up 0.8% as expected but the earlier figure was downgraded from 1.4% to 1.3%. The unemployment rate rose from 4.9% to 5.2% due to a higher labor force participation rate, but this could mean that the slack is not being absorbed. China’s official manufacturing PMI dipped from 51.4 to 51.3, higher than the 51.2 consensus, while the non-manufacturing reading improved from 54.5 to 54.6. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-feb-01-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-feb-01-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-feb-01-2017/", "headline": "Forex Major Currencies Outlook (Feb 01, 2017)", "inLanguage": "en", "datePublished": "2017-02-01T06:40:53+00:00", "dateModified": "2017-02-01T06:40:53+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Feb 01, 2017). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-feb-01-2017/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "Forex Major Currencies Outlook (Feb 01, 2017)", "item": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-feb-01-2017/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```