flationary pressures and geopolitical tensions amid airborne threats to the US. The Aussie is struggling to extend gains above 0.6970 in the early Asian session, however, the upside looks favored considering the strength in the recovery movement.
The US Dollar index was heavily offered by the market participants and surrendered the critical support of 103.00. The USD Index is facing hurdles in reclaiming the 103.00 resistance as the market mood is quite cheerful. S&P500 futures recovered dramatically and displayed strong gains, conveying that investors have digested the uncertainty ahead of the US Consumer Price Index data.
No doubt, the risk-perceived assets have shown resilience ahead of the US inflation data. However, the recovery move could be faded as a rebound in the inflationary pressures after recognizing a downside trend could dampen theAccording to analysts from ING, core inflation is to rise to 0.4% MoM. A 0.4% MoM core CPI print would give the Federal Reserve near-term ammunition to argue for a May rate hike.
Meanwhile, the Australian Dollar is likely to dance to the outcome of the speech from Reserve Bank of Australia
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Daily_Forex - 🏆 567. / 51 Read more »