Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
US CPI will drive the USD
The US will release headline and core CPI at 15:30 MT time on October 11. CPI stands for Consumer Price Index. It’s one of the main measures of the US inflation. There’s a direct link between the US inflation and the price of the USD. The higher the inflation, the higher the USD in the short-term.The last time, American CPI rose less than expected (0.2% versus the forecast of 0.3%). The data release was on September 13. The USD declined versus many major currencies after the release.
• If the data is greater than the forecast, the USD will rise.
• If the data is weaker than the forecast, the USD will go down.
The dollar's status as the world's reserve currency could only be recovered if the US controls its spending. The huge budget deficit and rising interest rates on the US national debt should scare every American, analysts say. Read the full report to learn more!
Chinese investors are selling the UST. Meanwhile, the earning season continues. What's going on in the markets?
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!
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 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!