Greenback stands still on subdued American inflation report

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.

 

Similar

Greenback extends early revenues

On Tuesday, the evergreen buck managed to extend early revenues versus a currency basket, thus sending the common currency down, while mixed GDP data along with and political instability put pressure on the UK pound…

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera