The dollar extended in its recovery on exchange Tuesday, this time supported by the highest inflation data of the USA in June, which supported the prudent position of the Federal Reserve.
This is what you have to observe on Wednesday, July 16:
The American dollar index (DXY) maintained its march to the north, largely exceeding the 98.00 barrier, reaching three weeks, this time helped by the increase in the US CPI in June. Production prices will be the center of attention, followed by industrial and manufacturing production, the use of capacity, the beige book of the Fed, the MBA mortgage requests and the EIA report on the Inventories of the US crude oil inventories of the USA.
The EUR/USD lost traction and fell below the 1,1600 support since mid -June while investors evaluated the publication of US inflation data and a firm economic feeling in the region. The results of the EUM trade balance are expected.
The GBP/USD extended its negative tendency for another day, breaking this time below the 1,3400 area. The critical inflation rate of the United Kingdom will be the center of attention to the other side of the channel.
The USD/JPY rose even more, advancing at levels not seen since the beginning of May, exceeding the barrier of 149.00. Reuters’ Tankan Index is the next thing on the agenda in Japan.
The Aud/USD faded an initial upward attempt and ended the day near the neighborhood of 0.6500, falling for the third consecutive day. The next relevant thing in Australia will be the report of the labor market and the expectations of consumer inflation, all scheduled for July 17.
WTI prices fell to a minimum of six days near the mark of 66.00 per barrel despite the decrease in concerns about the supply of crude oil.
Gold prices joined the fall on Monday and backed away to the area of $ 3,320 per Troy ounce amid constant commercial nervousness and perspectives that the cautious posture of the Fed could persist for longer. The silver prices retreated from the maximum of 14 years on Monday above the 39.00 $ per ounce, challenging the 38.00 $ per ounce brand again.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
