The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
Aussie tacks on as RBA holds
On Tuesday, the Australian dollar held revenues in Asia just a few ticks above 0.80 versus the US currency even as the major bank warned Australia’s currency turned to be a factor in interest rate views.
Assessing the greenback’s value versus a trade-weighted basket of six crucial currencies, the US dollar index gained 0.06% sticking to 92.73.
The currency pair AUD/USD rallied 0.36% showing an outcome of 0.8032. Meanwhile, the currency pair USD/JPY demonstrated 110.20, descending 0.05%.
The Reserve Bank of Australia didn’t change its interest rates, leaving them intact at a record minimum 1.5% just as expected on Tuesday, hinting at the potential impact of a strengthening Australian dollar.
Overnight, the evergreen buck languished at more than 14-month minimums versus a basket of global currencies because investors kept betting against the American currency after a mixed pair of economic reports put pressure on market sentiment.
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.