Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
Greenback keeps to 96.00
On Tuesday, the American currency kept the positive tone, while a test/surpass of the crucial 96.00 level is still elusive.
The US index keeps soaring for the third straight session. The index actually seeks to regain the key 96.00 level and nearly fully retracing previous Thursday’s huge pullback to the mid-95.00s.
The US dollar’s upside move stays underpinned by the sturdy rebound of American yields, where the 10-year benchmark keeps to the key 2.40% value, the level last reached in early May.
Also giving support to the greenback, San Francisco Fed J.Williams told that a third rate lift in 2017 seems reasonable enough, while he expects the major US bank to start normalizing its balance at some point later this year.
Meanwhile, in the US data space, the NFIB index is expected to be published soon, followed by speeches by FOMC’s L.Brainard and JOLTs Job Openings as well as Minneapolis Fed N.Kashkari. The given index is earning up to 0.08%, hitting 95.89.
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 Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…