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US inflation data could wake up markets

by SuperiorInvest


Here's what you need to know on Tuesday, February 13:

After another day of indecisive negotiations on Monday, the attention of the currency markets shifts on Tuesday to the January data of the consumer price index from the US. ZEW survey results from Germany will also be expected to provide fresh impetus during European trading hours and OPEC publishes its monthly market report.

The American dollar (USD) The index continues to fluctuate in a narrow range above 104.00 early on Tuesday. Year-on-year US inflation is expected to ease to 2.9% from 3.4% in December. On a monthly basis, CPI is expected to grow by 0.2% and core CPI by 0.3%. U.S. stock index futures are trading slightly lower ahead of key inflation data, and the 10-year U.S. Treasury yield remains near 4.2%.

US CPI data Forecast: Core inflation to fall slightly to 3.8% and headline inflation to 3.0% according to economists.

Britain's Office for National Statistics (ONS) announced early on Tuesday that the ILO Unemployment rate it fell to 3.8% from 4.2% in the three months to December. This figure came in below market expectations of 4%. Further details of the jobs report showed that year-on-year wage inflation, measured by the change in average earnings excluding bonuses, eased to 6.2% from 6.7% over the same period. GBP/USD it gained traction and climbed to the 1.2650 area at the start of the European session.

Annual CPI in Switzerland rose 1.3% in January, a drop from market expectations and a 1.7% increase in December. The initial reaction weighed on the Swiss franc and USD/CHF it was last up nearly 0.5% on the day at around 0.8800.

Today's price in US dollars

The table below shows today's percentage change in the US dollar (USD) against the major currencies listed. The US dollar was strongest against the Swiss franc.

American dollar euros GBP CAD AUD JPY NZD CHF
American dollar 0.04% -0.20% -0.01% 0.16% 0.10% 0.36% 0.39%
euros -0.04% -0.24% -0.05% 0.11% 0.07% 0.33% 0.35%
GBP 0.19% 0.23% 0.18% 0.37% 0.32% 0.58% 0.60%
CAD 0.01% 0.05% -0.19% 0.14% 0.12% 0.37% 0.40%
AUD -0.16% -0.14% -0.37% -0.18% -0.08% 0.22% 0.30%
JPY -0.09% -0.05% -0.30% -0.10% 0.06% 0.29% 0.35%
NZD -0.36% -0.33% -0.56% -0.37% -0.21% -0.26% 0.04%
CHF -0.40% -0.41% -0.60% -0.45% -0.30% -0.35% -0.05%

The heat map shows the percentage changes of major currencies against each other. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you select the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change shown in the box will be EUR (base)/JPY (rate).

After the close of the first trading day of the week virtually unchanged, EUR/USD continues to move up and down in a tight range below 1.0800 early on Tuesday.

USD/JPY posted small gains on Monday and continued to rise during Asian trading hours on Tuesday. At press time, the pair was trading at its highest level since late November above 149.50.

Gold closed its third trading day in a row in the negative on Monday, under pressure from rising US Treasury yields. In the European morning, XAU/USD it is correcting and trading slightly higher on the day above $2,020.

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