The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
Greenback stands still on subdued American inflation report
On Thursday, the US currency was generally intact versus its counterparts. It’s because American economic report disclosed that the tempo of consumer prices speeded down in June, although this deceleration was pared by a dive in the Japanese yen in the face of relieving trade-war fears.
The USD index, gauging the greenback’s purchasing potential versus a group of six main currencies, declined by about 0.2% being worth 94.46.
On Thursday, the Labor Department told that its Consumer Price index soared 0.1% in June having rallied about 0.3% in May. It missed market experts’ estimate for a 0.2% soar.
However, it didn’t manage to affect optimism as for the American inflationary backdrop in the face of hopes that trade duties could ramp up the tempo of domestic inflation.
As follows from the latest reading on prices, inflation is still firm, with the risk to proceed with its growth due to the fact trade duties threaten to heavily affect global access to materials and also drive American inflation.
The evergreen buck’s slump was pared by a weakening yen because investor appetite for risk assets resumed in the face of the report that China and the United States were considering resuming trade negotiations.
According to Bloomberg, US as well as Chinese officials actually considered resuming the trade negotiations that could provoke a bilateral agreement, thus relieving worries as for the prospect of a full-fledged feud between the world's two major economies.
As a matter of fact, the currency pair USD/JPY tacked on 0.39% trading at Y112.43, USD/CHF edged up 0.54% being worth 1.0013.
The currency pair EUR/USD added 0.09% showing $1.1683, the GBP/USD gained 0.13% reaching $1.3222.
The currency pair USD/CAD declined 0.38% demonstrating C$1.3161, although sagging crude kept a lid on the Canadian dollar, backing the currency pair.
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
The market sentiment improved after the USA reported some decreasing in coronavirus hospitalizations. Gold dropped below $2 000 and the US dollar dipped down, while stocks surged. Let’s have a closer look.
The RBNZ will make the monetary policy statement on August 12 at 5:00 MT time!
The market has started the week with a mixed sentiment…