USD recovers, Euro breaking lower. CPI presents key risk to markets
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USD recovers, Euro breaking lower. CPI presents key risk to markets
from DailyFX – Market News https://bit.ly/3He9guQ
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After markets hyped up the ECB meet yesterday, EUR/USD reacted negatively to the muted stance from the central bank and could be exacerbated by U.S. CPI later today.
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Gold prices appear to be vulnerable as Fed rate hike expectations firm and the US Dollar recovers ahead of May’s US CPI inflation data. It will set the stage for next week’s FOMC meeting.
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The US Dollar has gained traction as Treasury yields run higher with inflation concerns growing ahead of US CPI data. Will the USD (DXY) index keep ascending?
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The Nasdaq 100 and tech stocks tumbled as the ECB, another major central bank, turned more hawkish. Australia’s ASX 200 is looking vulnerable, eyeing Chinese lockdowns and CPI data.
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