Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Join the Facebook community of FBS!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Email tooltip

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE

View
US Dollar moves lower despite inflation that comes at the highest level in 30 years

US Dollar moves lower despite inflation that comes at the highest level in 30 years

Information is not investment advice

2021_06_11_09_56_18_sos.pptx_AutoRecovered_PowerPoint.png

EURUSDM30.png

2021_06_11_10_01_28_sos.pptx_AutoRecovered_PowerPoint.png

USDJPYM30,.png

Ichimoku Kinko Hyo

USD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

USDJPYM30.png

Fibonacci Levels

 XAG/USD: Silver continuous to stand on 23.6% retracement area. Bulls have returned since yesterday.

XAGUSDDaily.png

EU Market View

 U.S. bond yields fell to three-month lows and a broad gauge of Asian shares rose on Friday as investors saw enough one-off factors in U.S. consumer price data to back the Federal Reserve's conviction that rising inflation will be transitory. Some economists say the rise in CPI reflected short-term adjustments related to a reopening economy, and many investors appear to be confident that the Fed is deftly handling a rebound in economic growth - even as questions remain about how it defines "transitory". The foreign exchange market had been wary of strong inflation numbers all week, and this exceeded expectations. However, the response has been muted as the CPI release included hefty contributions from short-term rises in airline ticket prices and used cars, all of which played into the Fed narrative of the surge in inflation being a temporary phenomenon. Data overnight showed U.S. consumer price index posted its biggest year-on-year increase at 5% since August 2008, following a 4.2% rise in April. However, there were hefty contributions from short-term rises in airline ticket prices and used cars, raising some doubts about underlying inflationary pressures.

 

The dollar edged lower in early European trade Friday, as traders wagered that a hefty rise in U.S. consumer prices would not be enough to immediately jolt the Federal Reserve from its ultra-easy monetary policy stance. Gold was up on Friday morning in Asia and is set for a small weekly gain. The slightly faster-than-expected rise in U.S. inflation drove investor bets that price pressures will be temporary and central bank support will remain in place.

Japan's exports likely posted their largest monthly rise in four decades in May, a Reuters poll showed on Friday, but the flattering milestone was largely reflective of a rebound in shipments from last year's pandemic-driven plunge.

Globally, policymakers are keeping a close watch on the extent of underlying demand recovery as COVID-19 vaccinations have improved economic conditions in some key economies.

 

EU Key Point

  • UK April monthly GDP +2.3% vs +2.4% m/m expected.
  • Germany reports 2,440 new coronavirus cases, 102 deaths in latest update today.
  • Goldman Sachs forecasting Brent crude to $80/bbl in (northern) summer.

Similar

Popular

Choose your payment system

Learn more

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later