The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
Asian currencies keep gaining, except yen
On Friday, the greenback managed to claw back some of its losses versus Asian currencies because market participants didn’t care a dovish tone from Fed Chair Janet Yellen any longer, while political concerns relieved too. Nevertheless, Asian currencies kept gaining ground.
Estimating the US currency’s value versus six main currencies, the US dollar index decreased 0.04%, trading at 95.52.
The Chinese Yuan kept gaining ground versus the US major currency. The PBOC has already strengthened the reference rate around which the national currency is permitted to trade this week. In the morning the currency pair USD/CNY slid 0.03%, hitting CNY6.7818.
On Thursday, China posted an unexpected leap in both imports and exports. With stronger global demand exports added 11.3% year-on-year, while imports rallied 17.2%.
The greenback decreased versus the Korean won by 0.03%, hitting KRW1,136.
On Friday, the Japanese yen dropped versus the US dollar, thus giving up some early profits. It hit JPY113.44, declining 0.14% against the dollar.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.