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!
Greenback dips ahead of US inflation data
The US currency slumped because US Treasury yields kept to recent minimums, waiting for American inflation data for a potential spur following this week's dip from 10-week maximums.
Tracking the greenback’s strength versus a basket of six rivals, the US dollar index dipped 0.1% being worth 92.970, and it was braced for shedding 0.9% for the week.
The index had soared to the 10-week maximum of 94.267 previous Friday after firm American wages data hardened hopes for a December Fed rate lift, but it has decreased through the week along with a firm sink in Treasury yields.
The greenback was moderately lower on the day versus its Japanese rival at 112.120 yen, and the major American currency found itself on track for a dip of 0.3% for this week, during which it slumped to 111.990.
The US currency often makes strides versus the Japanese yen during heightened investor risk appetite, although its response to Japan's Nikkei soaring to a 21-year maximum this week has been restricted.
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
No More US Debts in Sight
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
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!
