Welcome to Tuesday!
Greenback edges lower as traders wait for US inflation data
On Tuesday, the US currency inched down moderately in Asia, though maintained most of the revenues it made on the previous week's sturdy employment data, which drove hopes that the key US financial institution could still lift interest rates in 2017.
Monitoring the greenback’s value versus a basket of six major counterparts, the dollar index slid 0.1% being worth 93.325.
It stood above the previous week's 15-month minimum of 92.548, although it remained quite shy of Friday's post-jobs data maximum of 93.774 because market participants pondered over the timing of the Fed’s next tightening steps.
American producer prices for July due on Thursday along with consumer price index figures on Friday are going to provide traders with a clue regarding the extent to which the ascending labor market’s actually spilling over into inflation.
The greenback declined 0.1% getting to 110.64 yen. The US currency lost some ground versus the euro that acquired 0.1% being worth $1.1809.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…