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!
EUR/USD and GBP/USD slide
On Friday, the evergreen buck managed to gain in Asia, with the common currency and the British pound tumbling on worries over Brexit. Additionally, the markets looked for signs Donald Trump might soon point to the next Fed chief.
The currency pair USD/JPY hit 113.26, adding 0.64%, AUD/USD showed 0.7838, declining 0.52%. Besides this, EUR/USD went down 0.34% being worth 1.1812, GBP/USD relieved 0.36% trading at 1.3112.
As for the US dollar index, traditionally gauging the American currency’s strength against a trade-weighted basket of six rivals, it leapt 0.35% trading at 93.34.
As reports suggest, UK Prime Minister Theresa May is actually foundering in negotiations with EU leaders as well as her own party in shaping Britain’s exit from the EU, although she was backed by German Chancellor Angela Merkel.
Overnight, the evergreen buck sank abruptly, contributing to earlier losses, reacting to a sag in bond yields after a report hinted that Fed Governor Jerome Powell is actually leading the race to become next Fed Chair after Janet Yellen.
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
The Yen Sets New Lows
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
Experts are Waiting for US Stocks to Rise
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO Supports The USD
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!
