top of page

Title: Dollar Static Ahead of Key CPI Release; Sterling Flat After GDP Data

  • Writer: analysiswatch
    analysiswatch
  • Dec 10, 2021
  • 1 min read






Dec 10, 2021 02:57AM ET


By: AnalysisWatch


The dollar was broadly unchanged in early European trade on Friday ahead of the release of key US inflation data that could influence the Federal Reserve's monetary policy deliberations in the new year.


At 2:55 AM ET (0755 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was unchanged at 96.263, heading for its seventh straight weekly gain.


The USD/JPY increased by 0.1% to 113.59, the EUR/USD decreased by 0.1% to 1.1288, and the risk-sensitive AUD/USD increased by 0.1% to 0.7151.


GBP/USD was unchanged at 1.3222, even after data showed the UK economy grew less than forecast in October, as traders kept their powder dry ahead of the release of US inflation data.


The release of consumer prices in the United States is scheduled for 8:30 a.m. ET (1330 GMT), with economists expecting a monthly increase of 0.7 percent, which would translate into an annual price rise of 6.8 percent, the biggest year-on-year increase since 1980.


The release is seen as a prelude to next week's Federal Reserve meeting, and expectations are high that the central bank will announce a faster reduction in its bond-buying program, hinting at a rate hike soon, especially after Chairman Jerome Powell's recent testimony to Congress.


When referring to high inflation in the US, Powell stated that it was time to remove the term "temporary" when referring to high inflation in the US and also hinted that it would be appropriate to consider ending net asset purchases a few months earlier than previously planned.

 
 
 

Comentários


2b94f773-a237-4da7-a599-6b42314ed9e6.png

Risk Disclosure: AnalysisWatch will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
AnalysisWatch would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore AnalysisWatch doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

bottom of page