iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Currencies on Edge as US Inflation Data Looms

10 Sep 2024 , 09:58 AM

The dollar remained steady in early trade on Tuesday, with the yen retreating from one-month highs as investors await U.S. inflation data and rethink expectations for a big interest rate cut from the Federal Reserve beginning next week.

A mixed labour report released on Friday failed to make a clear argument for whether the Fed will decrease interest rates by 25 basis points (bps) or 50 bps at its decision meeting on September 17-18.

Traders are now looking forward to Wednesday’s consumer price index report in the United States for more policy hints, despite the fact that the Fed has stated that employment has taken precedence over inflation.

According to a Reuters survey, the headline CPI is predicted to grow 0.2% month on month in August, matching the previous month’s rate.

Investors will also be focused on the highly anticipated televised US Presidential debate later on Tuesday, which might have a significant impact on the November election.

The dollar rose 0.1% to 143.30 yen, moving away from the one-month low of 141.75 reached on Friday. Sterling recently traded at $1.3061, having hit a nearly three-week low of $1.3058 earlier in the session.

The dollar index, which compares the US currency to six rivals, was at 101.69 after increasing 0.4% on Monday. The index dropped 0.5% last week as traders’ expectations for rate cuts altered.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Dollar
  • Euro
  • FOREX
  • Yen
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.