Dollar slips lower ahead of U.S. inflation report By

Dollar loses some ground with U.S. inflation in focus – The U.S. dollar slipped lower against other major counterparts on Friday, erasing gains posted after the previous session’s upbeat U.S. data, as investors remained cautious ahead of a highly-anticipated U.S. inflation report due later in the day.

The greenback was boosted after the U.S. Department of Labor reported on Thursday that initial jobless claims fell more than expected to last week.

A separate report showed that producer prices increased in September, in line with expectations. Core producer prices, which exclude food and energy also rose , beating expectations for a 0.2% uptick.

The data came a day after the of the Federal Reserve’s September policy meeting showed that policymakers .

Several policymakers believe additional tightening will depend on upcoming inflation data. However, most Fed members said they feel another rate increase this year “was likely to be warranted,” the report showed.

Market participants were looking ahead to the highly-anticipated set to be released later Friday.

edged up 0.10% to 1.1844, while added 0.09% to trade at 1.3274.

Sterling remained under pressure after European Union chief negotiator Michel Barnier announced on Thursday that

The euro remained mildly supported as Catalonia stopped short of formally declaring independence from Spain this week.

However, European Central Bank President Mario Draghi reiterated in a speech on Thursday that until officials see a sustained improvement in the outlook for inflation.

Draghi added that interest rates would remain at current levels “well past” the time the central bank stops buying assets.

Elsewhere, edged 0.19% lower to 112.09, while held steady at 0.9752.

The Australian and New Zealand dollars were stronger, with up 0.22% at 0.7837 and with adding 0.13% to trade at 0.7135 after data earlier showed that China’s imports increased by last month, beating expectations, while exports rose less than expected by .

China is Australia’s biggest export partner and New Zealand’s second biggest export partner.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.14% at 92.81 by 02:20 a.m. ET (06:20 GMT), re-approaching the previous session’s two-week trough of 92.64.

Disclaimer: Fusion Media 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 Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Leave a Reply

Your email address will not be published. Required fields are marked *