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!
UK pound tacks on, shrugging off May’s Brexit failure
On Wednesday, the UK pound managed to ascend in Asia notwithstanding British Prime Minister Theresa May’s Brexit deal faced another defeat in the country’s parliament.
Fresh uncertainties along a further blow to the likelihood of an orderly Brexit – these were the consequences of that defeat.
On Wednesday, the currency pair GBP/USD managed to stabilize, notwithstanding the news, having dived by nearly 0.7% yesterday. Eventually, this currency pair hit 1.3083, heading north by about 0.1%.
A senior currency experts at the Commonwealth Bank of Australia, Joseph Capurso noted that in case British lawmakers decided to depart from the European bloc without a deal, Britain’s currency could decline 4%-8%.
This week British lawmakers are braced for voting once again in order to decide on a no-deal exit deal, or whether to extend the March 29 departure deadline.
Some financial analysts are assured that the UK legislative body will most probably hurl out a no-deal Brexit plan, so the March 29 exit date will be likely extended.
Besides this, the currency pair AUD/USD extended its losses right after both the National Bank of Australia’s business conditions as well as business confidence index for last month missed forecasts.
Estimating the purchasing potential of the evergreen buck against its several key peers the USD index rallied by up to 0.1% ending up with 96.968.
On Tuesday, the evergreen buck went down because tame American inflation data affirmed hopes that the major US bank will keep refraining from lifting interest rates.
The currency pair USD/CNY jumped by 0.1% hitting 6.7094. The Yuan reference rate was set at 6.7114 by China’s key bank versus yesterday’s fix of 6.7128.
The currency pair USD/JPY declined by 0.1% demonstrating an outcome of 111.27.
Similar
The Fed won't miss these releases!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
USD and GBP Traders Await Big Moves
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
Latest news
The Yen Sets New Lows
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
Experts are Waiting for US Stocks to Rise
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO Supports The USD
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!
