Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Dollar Down, Moves Remain Small Ahead of U.S. Inflation Data

ForexSep 13, 2021 10:28PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Gina Lee

Investing.com – The dollar was down on Tuesday morning in Asia, as investors await U.S. inflation data that could provide a clue to the U.S. Federal Reserve’s timetable for asset tapering.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down 0.06% to 92.597 by 10:21 PM ET (2:21 AM GMT), after retreating from a two-week high of 92.887 hit earlier on Monday.

The USD/JPY pair inched up 0.10% to 110.08.

The AUD/USD pair inched down 0.05% to 0.7362 and the NZD/USD pair inched down 0.10% to 0.7114.

The USD/CNY pair inched down 0.02% to 6.4495 and the GBP/USD pair inched up 0.08% to 1.3847.

The U.S. will release consumer price index data later in the day, which will be closely watched by investors.

"With the core CPI still seen above 4%, inflation is at a very abnormal level. Powell has been saying inflation will be transient since March but the Fed will probably have to adjust its wording in the next policy statement," Daiwa Securities senior strategist Yukio Ishizuki told Reuters.

Investors also await the Fed’s policy decision, due to be handed down next week, where the central bank is expected to agree to begin asset tapering in November.

"Asset tapering in 2021 is a done deal. The next question will be whether the Fed will raise interest rates in 2021. Given persistent inflation, the Fed may not be able to afford to be relaxed about it for too long," said Ishizuki.

Although global shares remain near record highs, increasing investors’ risk appetites, some investors warned of risks up ahead.

"Global risk appetite is edging toward a more tenuous and twitchier phase. A discordant G2 is increasingly the problem," Deutsche Bank (DE:DBKGn) macro strategist Alan Ruskin told Reuters.

"The U.S.-China trade dispute has not found any resolution. On the contrary, market forces are dominating quantity targets, and widening bilateral balances will again prove a source of tension," he added.

Another development in China on investors’ radars is China Evergrande Group's (HK:3333) debt situation. The cash-strapped property developer is struggling to calm solvency concerns while the country’s tech firms deal with the latest round of regulatory tightening.

In cryptocurrencies, bitcoin fell to as low as $43,400, the lowest level in almost a week and last traded at $44,973. Ether also fell to $3,283.

Dollar Down, Moves Remain Small Ahead of U.S. Inflation Data
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (4)
Mukhammadali Kosimov
Mukhammadali Kosimov Sep 14, 2021 6:20AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
can we sell eur usd
Thinh Dang Duc
Thinh Dang Duc Sep 13, 2021 11:13PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This news is very interesting.
Thinh Dang Duc
Thinh Dang Duc Sep 13, 2021 11:12PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
very interesting
Lars Hellman
LarsH Sep 13, 2021 10:54PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Fed can only talk & talk & talk some more, no action ever possible, maybe on Powell's last day at work.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email