This is what you need to know to trade today Tuesday, September 14:
The dollar remains under pressure as investors eagerly await critical US inflation figures. The market mood is mixed as concerns about China and oil supply are offset by hopes of economic recovery. Cryptocurrencies have stabilized after the Litecoin fiasco.
Inflation in the United States: Consumer Price Index figures for August are expected to show an increase of 5.3% in the main reading and 4.2% in the underlying. That would represent a minor decline, but would still imply high pressure on prices. Federal Reserve Chairman Jerome Powell insisted that inflation is temporary, while others fear it has risen.
The wait causes tensions in the markets and the numbers feed the Fed’s September decision next week:
US Inflation Preview: CPI Critical for Tapering – Three Scenarios for the Dollar
China: Evergrande, one of the largest construction companies in the country, warned of “extremely bad financial conditions” and hired advisers to help it restructure its debt. Authorities appear to have allowed protests by shareholders and homeowners.
GBPUSD It has been hovering around 1.3850, benefiting from the weak dollar despite the ongoing tension between the EU and the UK over Brexit. London insists it could continue to violate Northern Irish protocol. UK employment figures may show another drop in the unemployment rate from 4.7% to 4.6%.
EUR/USD it is trading above 1.18, clinging to its recovery. COVID-19 cases continue to decline in the old continent, while the European Central Bank seems unmoved by rising inflation. Gold remains below $ 1,800 pending US CPI data.
AUD/USD It is trading around 0.7350, lower after Reserve Bank of Australia Governor Phillip Lowe said interest rates are unlikely to rise before 2024 due to slow wage growth.
El raw WTI it is on the rise, changing hands near $ 71 as Hurricane Nicolás moves through the Gulf of Mexico, threatening to disrupt oil production. Norway: The pro-oil Labor Party is on track to win elections in the oil-rich country, ending a long period for conservatives in power.
cryptocurrencies: A fake press release about a Walmart-Litecoin partnership was published by global news outlets, sending the prices of all cryptocurrencies higher, especially after Litecoin allegedly confirmed it. Walmart’s denial sent crypto down again. Early on Tuesday, Bitcoin is hovering around $ 45,000, Ethereum is trading below $ 3,300, and Ada is around $ 2.40.