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 nurses losses as outlook is still wary
On Monday, the US currency slid versus a trade-weighted basket of currencies, having posted its biggest weekly descend for three weeks as hopes for American rate hikes dwindled further after dismal inflation data.
With Japanese second-quarter surge expanding 1% quarter-on-quarter, powered by soaring consumption as well as capital expenditure, traders stepped in to purchase risky assets after tensions over North Korea.
Revived risk appetite also encouraged market participants to borrow in relatively weak assets such as the greenback and the Swiss franc and invest in the common currency, which turns to be the best performing currency in the G10 FX universe.
Notwithstanding some near-term headwinds for the common currency after the recent soar, it’s set to go up versus the evergreen buck due to the relatively favorable economic outlook.
The common currency grew 0.1% hitting $1.1827 and it was approaching a 2-1/2 year maximum of 1.1910 reached earlier this month.
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
The Yen Sets New Lows
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
Experts are Waiting for US Stocks to Rise
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO Supports The USD
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!
