British Pound Softens as Firming US Dollar Eyes CPI for Fed Clues
GBP/USD was lower in Asia as the inflation debate heats up ahead of US CPI data. Will the US Dollar drive markets and wake Sterling up?
GBP/USD was lower in Asia as the inflation debate heats up ahead of US CPI data. Will the US Dollar drive markets and wake Sterling up?
EUR/USD appears to have reversed course after failing to clear the July high (1.1909) as it snaps the opening range for September.
European indices were mixed on Tuesday as traders focused on the US CPI print. Fears over tightening from the ECB weighed on sentiment.
Bitcoin (BTC) prices reclaim $46,000 after US CPI comes in below expectations, easing short-term speculation around Fed tapering.
Easing inflation in the U.S. could lead the Fed to be more patient before tapering stimulus, an outcome that could weigh on the dollar and boost EMFX such as the Mexican peso in the medium term.
The risk-sensitive Austrian Dollar is coming off a down week after market sentiment soured last week. AUD/USD traders are eyeing the upcoming local jobs data as risk trends remain fragile.
USD drops, Gold positive as US CPI dips
The weakness in USD/JPY following the US CPI report may end up being short lived as longer-dated US Treasury yields remain afloat.
Trader confidence has lessened, and some traders are now looking for safe havens, but despite the falls in US stock indexes it is far too early to assume they have peaked.
Crude oil reaches a 6-week high as Hurricane Nicholas compounds Gulf Coast production woes left by Hurricane Ida.