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!
Australian dollar keeps tumbling in Asia as China PPI data gives pause
On Monday, the Australian dollar sank further in Asia, with China posting faster than expected producer price revenues, and also demonstrating that inflation pressures are building in the Chinese economy which is a number one export destination for Australia.
The currency pair AUD/USD hit 0.7875, slumping 0.25%, USD/JPY reached 112.00, soaring 0.17%. As for EUR/USD, this currency pair showed 1.1807, declining 0.13%, and only GBP/USD stood still, sticking to 1.3284.
The US dollar index, gauging the US currency’s value against a basket of six crucial currencies, inched up 0.11% demonstrating an outcome of 93.02.
As China informed, September prices surged 0.5% versus a sudden 0.4% leap observed on month and also up 1.6% on year as anticipated, while PPI rallied 6.9% versus a sudden 6.3% profit.
This week, market participants will be looking at British housing data to evaluate the economic impact of the hurricanes that hit the southern US coast the previous month.
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