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.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
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.
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!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!