The risk sentiment is back at start of a new trading week. Gain more insights about the market with HotForex's 11 September US Dollar outlook and video.
11 September, HotForex – The dollar gained while safe haven currencies weakened in early week trade, concomitantly with stock market rallies amid relief that North Korea refrained from conducting a further missile test over the weekend (which had been widely feared heading into the weekend).
Meanwhile ECB’s Coeure warns on inflation impact of currency. His statement seems to weaken EURO. Coeure said “exogenous shocks to the exchange rate, if persistent, can lead to an unwarranted tightening of financial conditions with undesirable consequences for the inflation outlook”, thus adding to the indications from last week’s council meeting, that the strong currency is making the ECB reluctant to commit to an end date for QE.
Video: 11 September US Dollar outlook
11-15 September - US economic calendar
The U.S. economic calendar starts off fairly leisurely, building with inflation data by midweek and followed up with flurry of retail, Empire, production, inventory and U. Michigan sentiment data. Retail sales are estimated edging up 0.1% overall, and up 0.5% ex-autos. Industrial production is expected to rise 0.2% in August, but estimates ranged from 0.6% to -0.6%. NFIB small business optimism and JOLTS job openings are due (Tuesday).
MBA mortgage series is on Wednesday, EIA and PPI, which is set to rebound 0.3% for August from -0.1%, while the core reading is seen up 0.2% from -0.1%. Meanwhile, the Treasury budget gap is expected to widen to -$131.0 bln in August from -$42.9 bln previously, this data will go live on Wednesday.
US CPI data will be a focal point (Thursday), forecast to rebound 0.3% in August from a 0.1% reading in July. Initial jobless claims may retrace their steps -8k to 290k (Thursday) following the 62k surge to 298k after Harvey, before being distorted again by Irma’s impact, making a wreck of underlying employment trends for some time to come.
This article ‘11 September US Dollar outlook‘ was written by Stuart Cowell the Senior Market Analyst at HotForex. Moreover, the provided article is a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.
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