Search

Forex Today: Investors’ optimism kept the Dollar depressed ahead of US CPI - FXStreet

Share:

The improvement in sentiment surrounding the risk-linked galaxy weighed on the greenback and sponsored a corrective knee-jerk in the USD Index (DXY) amidst increasing prudence ahead of the release of key US CPI on Thursday. Early in the Asian trading hours, the Australian Trade Balance results will take centre stage, seconded by flash prints of the Japanese Coincident Index and Leading Economic Index.

Here is what you need to know on Thursday, January 11:

Renewed selling pressure hurt the dollar against the backdrop of muted US yields and steady expectation ahead of US CPI. Other than US inflation, usual weekly Initial Claims should also grab attention on Thursday.

Looking at US stocks markets, the three major stock indices edged higher amidst solid performance of tech megacaps and the broad-based upbeat mood in the risk appetite trends.

EUR/USD took advantage of the selling pressure in the greenback and revisited the 1.0970 zone, or two-day highs, in tandem with higher German yields and despite speculation of several rate cuts by the ECB this year.

GBP/USD remained in the upper end of the weekly range well north of the 1.2700 hurdle bolstered by investors’ preference for the riskier assets. There was no news from the testimony by BoE Governor A. Bailey before the Parliament.

The firm tone in the risk-associated space sponsored further selling in the Japanese yen and encouraged USD/JPY to advance to weekly highs and flirt with the so-far yearly peaks in levels just shy of 146.00 the figure.

AUD/USD reversed Tuesday’s marked pullback and regained some upside traction, although a convincing breakout of the 0.6700 hurdle remained elusive. Lower-than-expected inflation figures in Oz also seems to have propped up the view of a pause by the RBA at its next event in February.

The modest sell-off in the dollar weighed on USD/CAD, prompting the pair to partially reverse the weekly advance, leaving a decent resistance around the 1.3400 region.

Both Gold and Silver grinded lower and revisited the lower end of the so-far yearly range prior to the release of US inflation on Thursday.

Adblock test (Why?)


https://news.google.com/rss/articles/CBMic2h0dHBzOi8vd3d3LmZ4c3RyZWV0LmNvbS9uZXdzL2ZvcmV4LXRvZGF5LWludmVzdG9ycy1vcHRpbWlzbS1rZXB0LXRoZS1kb2xsYXItZGVwcmVzc2VkLWFoZWFkLW9mLXVzLWNwaS0yMDI0MDExMDE5MzXSAXdodHRwczovL3d3dy5meHN0cmVldC5jb20vYW1wL25ld3MvZm9yZXgtdG9kYXktaW52ZXN0b3JzLW9wdGltaXNtLWtlcHQtdGhlLWRvbGxhci1kZXByZXNzZWQtYWhlYWQtb2YtdXMtY3BpLTIwMjQwMTEwMTkzNQ?oc=5

2024-01-10 19:35:10Z
CBMic2h0dHBzOi8vd3d3LmZ4c3RyZWV0LmNvbS9uZXdzL2ZvcmV4LXRvZGF5LWludmVzdG9ycy1vcHRpbWlzbS1rZXB0LXRoZS1kb2xsYXItZGVwcmVzc2VkLWFoZWFkLW9mLXVzLWNwaS0yMDI0MDExMDE5MzXSAXdodHRwczovL3d3dy5meHN0cmVldC5jb20vYW1wL25ld3MvZm9yZXgtdG9kYXktaW52ZXN0b3JzLW9wdGltaXNtLWtlcHQtdGhlLWRvbGxhci1kZXByZXNzZWQtYWhlYWQtb2YtdXMtY3BpLTIwMjQwMTEwMTkzNQ

Bagikan Berita Ini

Related Posts :

0 Response to "Forex Today: Investors’ optimism kept the Dollar depressed ahead of US CPI - FXStreet"

Post a Comment

Powered by Blogger.