On Friday, Bitcoin as well as key crypto assets managed to ascend, thus finding themselves on track for back-to-back winning trading marathons…
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.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…