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 slides after key bank holds steady as expected
On Tuesday, the Australian dollar went down in Asia after the latest review of interest rates was intact at a record minimum.
The currency pair AUD/USD showed 0.7633, sliding 0.34% after the bank’s verdict expected to hold at a record minimum 1.50%.
Australia also posted retail sales for May with a revenue of 0.6% month-on-month, thus surpassing the expected 0.2% soar.
The American currency jumped versus global currencies, buoyed by manufacturing data, topped experts’ predictions, contributing to hopes that the Fed would lift its benchmark rate later in 2017.
The American dollar managed to regain ground against its counterparts, after data revealed that in June manufacturing activity went up to a three-year peak, pointing to solid economic surge.
According to the Institute for Supply Management, its manufacturing index rallied to 57.8 the previous month from May’s outcome of 54.9.
Similar
Three Currencies to Watch This Week
We prepared an outlook of major events of this week. Check it and be ready!
The Fed won't miss these releases!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
Latest news
No More US Debts in Sight
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
Gold Rises as Central Banks Buy More
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
US Evades Default This Time
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
