Keep an eye on US inflation data
The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
Japanese yen is firm on North Korea's nuclear test
On Monday, the Japanese yen soared versus the evergreen buck because market participants changed their exposure to riskier assets right after North Korea dared to conduct its most powerful nuclear test.
The US currency dived to as low as 109.22 yen during early Asian trade.
The heightened risk aversion followed Sunday’s news of North Korea's sixth and perhaps most powerful nuclear test. It actually prompted the warning of a huge military response from America in case it or any of its allies were threatened.
By the way, the Japanese yen nearly always surges when market participants try reducing exposure to risk. It’s because the Japanese currency is often utilized as a funding source to purchase riskier, higher-yielding assets.
Japan appears to be the world's number one net creditor nation, so at times of uncertainty market participants suggest Japanese repatriation from foreign countries will supplant foreign investors' selling of Japan’s assets. Apparently, the Japanese yen has kept behaving as a safe-haven currency notwithstanding Japan's proximity to North Korea.
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Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
Latest news
US stimulus package improved sentiment
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
The US weekly labor data is out!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
Main market news on September 23
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
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