After inflation, the US dollar will increase sharply next week
The US dollar was barely changed in early European trading on Tuesday ahead of the latest inflation data that could determine the direction of US monetary policy, while sterling rose as investors British workers continue to benefit from healthy wage increases.
At 3:10 a.m. ET (08:10 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was trading virtually unchanged at 105.516.
Trading was largely confined to a narrow range on Tuesday as traders cautiously awaited the release of the US consumer price index at the end of the October session, a number likely to boost sentiment. believe. Book}} meeting.
Analysts expect annual revenue growth to rise 3.3% year-over-year, down from 3.7% in September, while also expecting a 0.1% increase over the month, lower than the 0.4% increase observed last month.
Some Fed officials, including Chairman Jerome Powell, have warned that persistent inflation could cause the central bank's interest rates to rise further and any signs that prices are harder to come by than expected are all likely to sharply increase bets on rising interest rates. US central bank. Higher interest rates - a scenario that bodes well for the dollar.
At 3:10 a.m. ET (08:10 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was trading virtually unchanged at 105.516.
Trading was largely confined to a narrow range on Tuesday as traders cautiously awaited the release of the US consumer price index at the end of the October session, a number likely to boost sentiment. believe. Book}} meeting.
Analysts expect annual revenue growth to rise 3.3% year-over-year, down from 3.7% in September, while also expecting a 0.1% increase over the month, lower than the 0.4% increase observed last month.
Some Fed officials, including Chairman Jerome Powell, have warned that persistent inflation could cause the central bank's interest rates to rise further and any signs that prices are harder to come by than expected are all likely to sharply increase bets on rising interest rates. US central bank. Higher interest rates - a scenario that bodes well for the dollar.
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