Daily Update - 13th March 2018
Monday started off on a dull note as there were no major data releases. However, the greenback eased at the beginning of the day amid a bout of risk aversion coming from Japan, on a political scandal that affects PM Abe, but strong equities in Asia and Europe put it back on the winning side. Monthly Budget statement from US came out positive and helped the dollar to end the day on a positive note. Quite an important day for US Dollar as key inflation data will be released. By mid-day we will see Budget Report from UK which a report is representing the economic forecast for next year, containing details about GDP growth estimates, spending and borrowing forecasts as well as fiscal stimulus. By evening markets will be volatile with the release of CPI figures from USA. CPI is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. Higher inflation will likely lift chances of a fourth rate hike this year, but given that the market is already considering it, the numbers have to be really impressive to give the greenback a nice boost.Yesterday’s Market
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