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!
Yen soars further in Asia on CPI data
On Friday, the Japanese yen soared in Asia because national consumer prices came in as expected and demonstrated a fourth straight revenues. Meanwhile, the British pound dipped on worries about commodity prices as well as national surveys next month and ahead of long holiday weekend coming up in America, with markets unavailable on Monday due to the Memorial Day holiday.
The currency pair USD/JPY hit 111.56, sliding 0.24%, while AUD/USD reached 0.7427, declining 0.38%. As for GBP/USD, it went down 0.41%, being worth 1.2889.
In Japan, consumer prices tacked on 0.4% for April year-on-year as expected, while national core consumer prices inched up a less than expected 0.3%.
Tracking the greenback’s value versus a trade-weighted basket of six main currencies, the US dollar index ascended 0.07%, being worth 97.21.
The greenback stood above break-even Thursday, driven by bullish initial jobless claims reports, raising hopes that the American economy is going to rebound in the second-quarter, although a widening of the trade balance restricted upside momentum.
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