The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
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.
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Some progress in US debt ceiling talks is made, and the PMI data is out.
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Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!