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 keeps to 1-week maximums vs. counterparts
On Tuesday, the evergreen buck was hovering over one-week maximums versus other key currencies because hopes for approaching rate hikes by the Fed kept underpinning demand for the US currency.
The US currency gained support after on Saturday San Francisco Fed President John Williams told that the major US bank needs to raise interest rates three times in 2018 because the US economy will undoubtedly benefit from tax cuts.
The comments emerged a day after Cleveland Fed President Loretta Mester told she expects up to four interest rate lifts in 2018 due to firm American economic surge as well as low unemployment.
Measuring the greenback’s value versus a trade-weighted basket of six key currencies, the US dollar index rallied 0.21% hitting 92.27.
The common currency and the British pound went down, with EUR/USD losing 0.29% trading at 1.1933 and with GBP/USD heading south 0.31% being worth 1.3526.
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
USD Gains Momentum
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
NVIDIA to Become the Next Tesla
The United States has one week before default, and NVIDIA may become the next Tesla. What else drives the market?
Progress in US Debt Talks, Gold Is Down
Some progress in US debt ceiling talks is made, and the PMI data is out.
