US dollar holds above 90 as inflation fears continue

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 US dollar holds above 90 as inflation fears continue

By Scott Andrews

 

US index 11 05 2021

Overnight we saw a distinct shift to risk off sentiment in the equity markets especially the NASDAQ with markets reverting back to inflation concerns. There’s no significant news out for the US with inflation data coming out on Wednesday evening at 20:30 GMT+8 time zone, support appears to be holding up and it will be key to see how the market reacts to the Core CPI and also CPI year on year change and whether it meet forecasts.

Key points to consider:

US CPI m/m (%)

0.2% Forecast 0.6% Previous

US Core CPI m/m (%)

0.3% Forecast 0.3% Previous

US Core CPI y/y (%)

2.3% Forecast 1.6% Previous

US CPI y/y (5%)

3.6% Forecast 2.6% Previous

US dollar holds above 90 as inflation fears continue

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