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!
Euro declines to day’s minimums as ECB tapering expectations weaken
On Wednesday, the common currency tumbled to the day’s minimums, following reports that ECB President Mario Draghi won’t deliver any fresh monetary policy message at the Fed’s Jackson Hole conference.
The currency pair EUR/USD deceased 0.23% being worth 1.1707, tumbling from 1.1723 reached earlier.
The given report tempered hopes that the EU’s key bank is actually moving closer to unveil plans to scale back its monetary stimulus program.
Anticipation had been mounting ahead of the speech that’s due to occur on August 25 amid hopes that Draghi would point to a definite shift in ECB policy.
The common currency was a touch lower versus the British pound, with EUR/GBP slumping 0.12% being worth 0.9107.
At the same time the common currency retraced revenues versus the Japanese yen, with the currency pair EUR/JPY last trading at 129.77, edging down from an overnight peak of 130.4.
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
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!
USD Gains Momentum
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
