Online Forex broker
On Tuesday, the evergreen buck pared profits versus the Japanese yen and also extended losses versus the common currency after American consumer prices revealed that inflation is still low notwithstanding a tight labor market, spurring the Fed’s case for keeping interest rates intact.
In February, the Consumer Price Index managed to rally for the first time for four months, although the tempo of the lift was moderate that resulted in the smallest annual gain for 2-1/2 years.
Assessing the purchasing power of the greenback versus its primary peers the USD index headed north by 0.17% hitting 97.054.
As for the common currency, it rallied by 0.27% versus the evergreen buck, last priced at $1.1275. The greenback surged against Japan’s currency hitting 111.13 yen.
The major US financial institution has explained a lack of inflationary pressure by the fact it has felt comfortable pausing its interest-rate lifting cycle. The Federal Reserve utilizes the core personal consumption expenditures price index for the purpose of tracking inflation against its 2% objective. CPI is good when it comes to assessing the state of American inflation.
On Tuesday, the Labor Department told that its Consumer Price Index jumped by 0.2%, backed by the rally in the costs of rents, gasoline, and food. The CPI had been intact for three months in a row. Without energy and food, the CPI managed to surge by 0.1%, which is the smallest leap since August last year.
The core CPI tacked on by 2.1% for the 12 months through February. For the three months in a row the core CPI had gone up by 2.2% on an annual basis. By the way, market experts had thought the CPI along with the core CPI would soar by 0.2% in February.
Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
