Forex Today – Asian Session: Market Wakes Up Following US Inflation Figures at 40-Year Highs

- Advertisement -

What you should know on Thursday, January 13:

The dollar tumbled following the release of US inflation figures. The December Consumer Price Index was confirmed at 7% YoY, as expected, while the core reading beat expectations at 5.5%. The news, which often generates risk aversion, this time had the opposite effect.

- Advertisement -

Stocks rose, although indices cut earnings unevenly before the close, while government bond yields fell, sending the US dollar into a selling spiral, exacerbated by the breakout of technical levels.

EUR / USD is trading at its highest level in two months around 1.1450, while GBP / USD jumped to 1.3710, its highest level since October. Commodity currencies also traded higher, with AUD / USD hovering around 0.7280 while USD / CAD touched 1.2500.

- Advertisement -

The dollar also lost ground against safe-haven assets, as the USD / JPY pair fell to 114.37, staying close to the Asian open.

Gold advanced modestly as investors sought high-yielding assets. The shiny metal is trading around $ 1,827 a troy ounce. Crude oil prices also rose, with WTI trading at $ 82.60 per barrel.


- Advertisement -


Please enter your comment!
Please enter your name here

Hot Topics

Related Articles