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 is intact
On Wednesday, the evergreen buck was intact versus the other key currencies because market participants were monitoring the publication of American housing sector data, following comments by Federal Reserve officials that generated uncertainty over future rate lifts.
The currency pair EUR/USD soared 0.12%, being worth 1.1147.
The greenback gained support from Monday’s quite hawkish remarks made by New York Fed president William Dudley. The official spurred hopes for the Fed to keep increasing interest rates.
The currency pair GBP/USD sank 0.13%, being worth 1.2615. It’s because the UK Office of National Statistics announced that in May public sector net borrowing tacked on by £5.99 billion, compared to hopes for a leap of £7.00 billion.
In April, public sector net borrowing gained £8.68 billion.
Meanwhile, the currency pair USD/JPY lost 0.21%, hitting 111.22, while USD/CHF leapt 0.11%, showing 0.9739. USD/CAD gained 0.19%, trading at 1.3293.
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