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 drifts away from recent minimums
On Thursday, the evergreen buck caught its breath in Asia, staying above minimums reached earlier this week as market participants anxiously waited for this weekend's first round of presidential voting in France.
The dollar index, tracking the American currency against a basket of six crucial counterparts, soared 0.1%, reaching 99.781, drifting away from a three-week minimum of 99.465 reached on Tuesday.
The common currency stood still on the day at $1.07140, and it was supposed to tread water ahead of this weekend's vote.
A great number of French voters are still undecided, thus making it the least predictable vote in France in decades, and driving fears of a potential surprise outcome, which spread turmoil in financial markets.
Against its perceived safe-haven Japanese counterpart, the major American currency traded moderatly higher on the day at 108.84 yen, drifting away from five-month minimums reached 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
Oil prices are in focus today
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
Nonfarm Payrolls is in Focus Today
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
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.
