The US Dollar descent continued going into today’s much anticipated US CPI data point. The Japanese Yen has moved into the box seat with speculation of the BoJ shifting gears.
Daily Briefings
The gold price is inching higher while the US Dollar slides going into Tuesday despite several Fed speakers getting hawkish, mostly. Will Wednesday’s US CPI hold the keys to XAU/USD direction?
Wall Street managed to start the new week on a positive footing, but with some slight caution ahead of the key US CPI data release as the S&P 500 VIX saw an in-tandem rise overnight.
28 Jul: Crude Oil Dips After Massive Good points as US Greenback Finds Firmer Footing. Decrease WTI?
The crude oil price eased a touch today as it remains trapped in a range with soft Chinese data and Madame Secretary Yellen not ruling out a US recession. US CPI is now in view.
Crude oil dipped slightly to start Wednesday as the market looks to the Fed meeting later today for hints on the direction of the US Dollar and Treasury yields. Where to for WTI?
The Hang Seng Index (HSI) found firmer footing after reports emerged that Beijing is looking to bolster its economy. Meanwhile, the US Dollar eased ahead of the Fed meeting.
27 Jul: US Greenback Holds the Excessive Floor Forward of Fed, ECB and BoJ Conferences. Greater USD?
The US Dollar ascendency got back on track last week as markets eye Wednesday’s Federal Reserve rate decision ahead of the ECB and the BoJ’s meetings. Will the DXY (USD) trend north?