Keep an eye on US inflation data
The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
Greenback rebounds from 1-month minimum versus yen
On Tuesday, the evergreen buck bounced off a one-month minimum versus Japan’s currency because a selloff in global stocks relived, while the New Zealand dollar managed to surge after positive inflation data overnight.
The currency pair USD/JPY rallied by 0.31% having reached a one-month low of 111.61 on Monday.
The Japanese yen, valued by traders as a safe haven during market turmoil, headed south because key Asian equities ascended overnight, although financial markets were still wary after a week of huge losses.
Stock markets have been heavily affected after the previous week American Treasury gains jumped to their highest value since 2011 in the face of expectations that the key US bank will keep lifting interest rates, thus affecting the value of equities.
Fears over the impact of trade clash on the health of the world’s economy as well as worries over higher crude prices have powered the selloff too.
Estimating the American dollar’s purchasing potential against a number of its primary rivals the USD index went down by 0.07% trading at 94.70.
Market sentiment on the evergreen buck was affected on Monday after data disclosing that American retail sales barely surged in September. However, the same report also showed that consumer spending concluded the third quarter with firm momentum.
The common currency managed to ascend. The currency pair EUR/USD added 0.11% being worth 1.1592, although profits were held in check after Italy’s populist cabinet had its fresh budget approved, notwithstanding criticism from Brussels that it’s in breach of EU fiscal regulations.
Besides this, the UK currency gained ground. As a matter of fact, the currency pair GBP/USD soared by up to 0.28% hitting 1.3187 due to the fact financial markets waited for the latest British jobs report against the backdrop of deadlocked Brexit talks.
The currency pair NZD/USD soared by 0.31% hitting 0.6569.
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The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
USD is waiting for the jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
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CAD is in focus
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
Start the week with fresh analytics!
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
Uncertainty underpinned USD
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
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