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 reaches one-week maximum on hawkish comments
On Tuesday, the common currency demonstrated a one-week maximum because market participants added trading positions on a hawkish overnight statement by a policymaker, which reaffirmed bets the euro zone economy's outlook is still firm enough.
The euro’s ascend in 2017 has lost some momentum for the last days because political concerns – mainly Spain's Catalan crisis - have gone up pushing the common currency down versus the evergreen buck more than 3% for the last month.
However, on Tuesday, it bounced almost 0.4% hitting $1.1789, which is its highest outcome since October 2. It occurred after overnight comments from a member of the European Central Bank executive board, Sabine Lautenschlaeger, calling for the EU’s major financial institution to roll back asset purchases next year.
Market sentiment was also backed by upbeat data from Germany. In August, this country’s industrial output demonstrated its biggest monthly ascend for more than six years, as data disclosed on Monday.
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!
