The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
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.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.