FX & Market News
News Index
By Associated FX Analysis Team

Kantox currency update: dollar, little moved ahead of the U.S. CPI data

Published August 11, 2017

dollar notes

The U.S. dollar has remained moving in range against the euro and pound, while the Japanese yen continues appreciating, with the market increasingly concerned about the sabre rattling between U.S. and North Korea.

Today, all eyes will be on the U.S. inflation data, which is expected to have increased for the first time in the last six months, getting closer to the 2.0% target of the Federal Reserve.

EUR/USD consolidating near 1.1800. Euro reversal from 1.1900 found support earlier this week on 1.1700 and the pair has remained moving in the area right below 1.1800 over the latest sessions. At London market opening times, the EUR/USD is trading at 1.1755.

GBP/USD: limited below 1.3000. Pound reversal from last week’s highs near 1.3300 seems to have found support at 1.2955, although the pair remains unable to return above 1.3000.  At London market opening times, the GBP/USD is trading at 1.2975.

USD/JPY: approaching 108.80 support area. The dollar has lost 1.6% against the safe-haven yen this week, on investor’s run for safety amid the escalating tensions with North Korea.  At London market opening times, the USD/JPY is trading at 109.95.

 

In the Calendar Today

At 12:30 GMT we will be attentive on the U.S. Consumer Prices Index. The dollar would need a strong inflation report, that would add pressure to the Fed to hike rates for the third time before the end of the year, although the impact of this event might be mitigated by the ongoing geopolitical tensions.

12:30 GMT       U.S: Consumer Prices Index (YoY) (Jul)
Prev: 1.6%    Cons: 1.8%

 


Currency forecasts Q3

 

Leave a Reply

*