Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Greenback surges against other majors
On Monday, the greenback was broadly higher versus other key rivals notwithstanding Friday's dismal American inflation data because political woes in Europe put pressure on the single currency.
The US currency had dropped after Friday’s data revealed that in September American consumer prices leapt less than anticipated, both on a monthly as well as annual basis.
The report drove uncertainty over whether the Fed will decide to lift interest rates before the end of 2017 or not.
On Sunday, Fed Chair Janet Yellen told that policymakers are going to pay much attention to inflation reports in the months ahead. Additionally, she stressed that the US economy is still strong enough and the strength of the labor market suggests gradual hikes in interest rates notwithstanding soft inflation.
The currency pair EUR/USD declined 0.30% being worth 1.1787 after Catalan President Carles Puigdemont didn’t manage to make it clear whether the region has declared its independence from Spain or not.
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