The Euro Steadied the Ship Ahead of CPI as Treasury Yields Leap
CPI Ahead of Its Curve
The Euro has steadied the ship compared to the days of old, as the European Central Bank’s latest interest rate decision and its accompanying press release were well received. The ECB also announced plans to expand its bond-buying program by another US$ 100 billion.
Biggest Dollar vs GBP Depreciation of the Year
The British pound has retreated from a recent high, while gold prices continue to languish near US$ 1,850 an ounce as investors hunker down for a recession.
Investing in the Euro as a currency hedge has been a wise move, albeit one that has come at a price. The euro is down on the day by 0.37% against the dollar, while the pound is down by 0.2% as well.
Most Powerful Dollar in the World
In fact, the US dollar has ascended into the world’s reserve currency since it was unbanned from the Eurozone in 1994. Despite the global trade wars, the US dollar has held its own against other major currencies.
Most Important Forex News and Data for the Week of March 3-9, 2018
The most important forex news and data for the week of March 3-9, 2018, will come in the form of the Bank of England’s minutes from its monetary policy meeting in the UK later today. In addition, the upcoming release of US CPI & GDP numbers will be high on the agenda.