On Wednesday, July 14, here’s everything you need to know:
The dollar is approaching a monthly high against most major rivals, buoyed by updated US inflation figures. In June, the Consumer Price Index was revised upwards to 5.4 percent year over year, far higher than the projected 4.9 percent. In addition, the core reading was raised from 3.8 percent to 4.5 percent. Germany’s June inflation numbers were also released, with the yearly Consumer Price Index confirmed at 2.3 percent. Despite officials’ efforts to dampen such expectations, the figures reignited speculation about tighter monetary policy.
The EUR/USD pair hit a new multi-month low of 1.1780 before holding near that level ahead of the Asian start, which is usually a warning of more losses to come. The GBP/USD exchange rate is hovering at 1.3820, while the AUD/USD exchange rate is approaching the 2021 low of 0.7409.
Despite increasing oil prices, the Canadian currency plummeted. WTI rose above $75.00 a barrel on anticipation of tighter supply as OPEC+ failed to reach an agreement on additional output, as well as forecasts of significant drawdowns in US stocks.
After the release of US inflation numbers, gold prices were highly turbulent, but the precious metal ended the day relatively stable at roughly $1,808 a troy ounce.
US indexes ended the day mixed around their opening levels, as Wall Street battled to make significant gains. Government bond yields, on the other hand, continued to rise, with the 10-year US Treasury note yielding 1.42 percent.
The spotlight moves to US Federal Reserve Chairman Jerome Powell, who will speak before the House Financial Services Committee on the Semi-Annual Monetary Policy Report, attempting to persuade Congressmen of the importance of maintaining facilities despite economic growth. His planned remarks have already been made public, and the event is expected to have a minor market impact.
In the Northern Hemisphere, the coronavirus Delta form is dominant, and the number of new cases is increasing in the United States and Europe. Fears that it may delay the economic recovery are weighing heavily on investors’ minds.
Shiba Inu is one of the most bullish cryptos on the market for three reasons.
Do you think this article is interesting? Fill out the following survey to provide us with some feedback:/n
Read More
