Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Aussie declines on domestic data
On Monday, the Australian dollar sank because domestic data on housing as well as weaker than expected trade data from China weighed as financial markets moved on quickly because centrist Emmanuel Macron matched opinion survey hopes and outperformed anti-EU far-right nominee Marine Le Pen, thus easing worries over a turn to the right in European politics.
The currency pair EUR/USD hit 1.0964, sliding 0.32%, while USD/JPY reached 112.77, soaring 0.04%. As for the currency pair AUD/USD dipped 0.26%, trading at 0.7400.
Gauging the US dollar’s real strength versus a basket of main six currencies, the US dollar index inched up rose 0.26%, trading at 98.68.
Earlier, Australia posted that in March building approvals dived 13.4%, compared with a 4% dip observed, and the April NAB business confidence poll leapt to plus-13 with the previous outcome plus-6.
The previous week, the common currency reached its highest value in six months versus the American dollar on Friday because optimism over the likely outcome in the French presidential elections compensated data demonstrating a rebound in American jobs surge the previous month.
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