The US dollar appreciated by almost 1 percent against the Japanese yen. Investors are keeping their powder dry ahead of the FOMC on Wednesday. The US dollar rate remains at 104 and has more room to rise.
The US dollar index, which tracks rates against six other currencies, rose 0.21% to 104.206. US crude oil prices were broadly lower early Monday morning as markets looked ahead to a key two-day Federal Reserve meeting later this week.
Gold prices fell on Monday amid a stronger US dollar as investors awaited several key central bank meetings this week and US inflation data for further clarity on interest rates.
MCX gold futures were down 0.83% at 61574 points. Silver fell 0.86% to 73030. Copper fell 1.07% to 714. Crude oil fell to 5,933, down 0.05%. Natural gas fell 8.79% to 198.10.
Economic Data and Events Scheduled: Will Today’s Data Affect The US Dollar?
China
Tentative – New Loans. Foreseen at 1300B from previous 738B.
Tentative – M2 Money Supply y/y. foreseen at 10.0% from previous 10.3%.
Both data could have a negative impact on the Yuan.
Eurozone
At 12.30pm- German WPI m/m. Data is foreseen at -0.1%. Previous was at -0.7%.
At 3.30pm-
ZEW Economic Sentiment. Data is foreseen at 11.2 from previous 13.8
German ZEW Economic Sentiment. Data is foreseen at 8.1 from previous 9.8.
Above data could have a volatile impact on the Eur.
UK
At 12.30pm –
Claimant Count Change. Data is foreseen at 20.3k from previous 17.8k.
Average Earnings Index 3m/y. Data is foreseen at 7.6% from previous 7.9%.
Unemployment Rate. Data is foreseen at 4.2% from previous 4.2%.
Above data could have a Neutral impact on the pound.
U.S.–
At 7.00pm-
Core CPI m/m. Data is foreseen at 0.3% from previous 0.2%.
CPI m/m. Data is foreseen at 0.0% from previous 0.0%.
CPI y/y. Data is foreseen at 3.1% from previous 3.2%. Above data could have a positive impact on the dollar
Commodity Samachar
Learn and Trade with Ease
Also Read: India’s Rise: What’s It’s Position Amidst 2024 Global Soft Landing? , Are Silver and NASDAQ About to Make History Again? Find Out in Our Forex News Letter!Â
Recommended Read: With GTA 6 Making Waves, Can India’s Gaming Industry Catch Up?
Want help on your trades?
Chat with our Analyst