Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Dollar, Euro Down as Investors Await U.S. Retail Sales Data

ForexNov 15, 2021 10:34PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Gina Lee

Investing.com – The dollar was up on Tuesday morning in Asia, while the Euro fell to a 16-month low, as investors await U.S. retail sales data. A strong reading could pressurize the U.S. Federal Reserve to hike rates.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.02% to 95.427 by 10:37 PM ET (3:37 AM GMT).

The USD/JPY pair inched up 0.07% to 114.19.

The AUD/USD pair gained 0.23% to 0.7361, with the Reserve Bank of Australia (RBA) releasing the minutes from its November meeting earlier in the day. “The risks are tilted towards AUD/USD weakness today given the large gap between market pricing for rate hikes in 2022 and RBA rhetoric,” said Commonwealth Bank of Australia (OTC:CMWAY) analyst Joe Capurso.

The NZD/USD pair edged up 0.19% to 0.7060.

The USD/CNY pair edged down 0.17% to 6.3715, as U.S President Joe Biden and his Chinese counterpart Xi Jinping kicked off a virtual summit.

The GBP/USD pair incheded up 0.10% to 1.3432.

Bank of England Governor Andrew Bailey said to a parliamentary committee that he was “very uneasy” about inflation, which caused the euro’s fall to its steepest slide against the pound in six months. Overnight the EUR/USD tumbled below $1.14 for the first time since July 2021 as the number of COVID-19 cases in Europe rise.

European Central Bank (ECB) President Christine Lagard pushed back on the need to tame inflation, telling European Union lawmakers, “if we were to take any tightening measures now, it could cause far more harm than it would do any good.”

"We expect the cautiousness of the ECB on policy to limit recovery prospects for the euro against the dollar in the coming months," Rabobank senior FX strategist Jane Foley told Reuters.

"Our current mid-2022 forecast of EUR/USD at $1.14 is looking outdated... we will be revising our forecasts later in the week."

“In our view, the forecasts point to decent data, which following last week's acceleration in the U.S. consumer price index could increase bets over a hike by the Fed as soon as the tapering process is over,” JFD Group head of research Charalambos Pissouros said in a note.

Meanwhile, U.S. retail sales figures will be released later in the day, and Monday's NY Empire State Manufacturing Index was a stronger-than-expected 30.90 in November. The Eurozone consumer price index is due on Wednesday.

Dollar, Euro Down as Investors Await U.S. Retail Sales Data
 

Related Articles

Dollar climbs as Fed flags hikes
Dollar climbs as Fed flags hikes By Reuters - Jan 26, 2022

By Tom Westbrook SINGAPORE (Reuters) - The dollar hit multi-week highs against other major currencies on Thursday, bolstered after Federal Reserve chair Jerome Powell primed...

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 (1)
trading blob Dany
trading blob Dany Nov 15, 2021 11:30PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
All this articles are a copy and paste from one to another.
 
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