Keep an eye on US inflation data
The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
Evergreen buck loses momentum
On Monday, the major US currency went down because expectations for a trade pact between China and America ramped up investor appetite for risky assets, including stocks as well as emerging market currencies.
Assessing the purchasing potential of the greenback against a number of its key rivals the USD index slipped by 0.08% being worth 96.28.
Emerging currencies, including the South African rand as well as the Mexican peso that don’t appear to be part of the basket demonstrated their highest result for two weeks versus the evergreen buck because some of the safe haven flows of the last weeks unwound. As for other commodity currencies, including the Australian and New Zealand dollars, they kept finding buyers long after their domestic markets became unavailable.
On Sunday, American leader wrote on Tweeter that he would push back a March 1 deadline for fresh levies on $200 billion worth of China’s goods, and meet with Chinese leader Xi Jinping in Florida at his Mar-a-Lago estate to conclude negotiations.
The news spurred expectations that the two will come to an agreement soon. However, Xinhua, official Chinese news agency as well as others pointed to persisting differences between the two countries.
The evergreen buck managed to tack on versus the safe-haven yen. The currency pair USD/JPY headed north by up to 0.12% concluding the trading session at 110.79.
Additionally, the common currency went up because of the weaker evergreen buck. The currency pair EUR/USD soared by 0.13% being worth 1.1355.
As for the UK currency, this asset managed to recover a bit, although it’s still staying in a holding pattern because the political process governing Brexit keeps unrolling.
Similar
Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
USD is waiting for the jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
Latest news
Risk-averse sentiment prevails on the market
The market sentiment deteriorated because of the election uncertainty and worries about rising virus cases all over the world. Let's make some analysis!
EUR dropped as Covid-19 engulfed Europe
The focus of traders’ attention shifted from Brexit and the US stimulus to the coronavirus . The WHO claimed that Europe become the new Covid-19 epicenter.
Is the Canadian economy recovering?
Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.
Deposit with your local payment systems
