Economic World News :
The dollar fell back On Wednesday from a one-year high against key peers ahead of U.S. consumer pricing data, which could provide more indications on when the Federal Reserve would remove stimulus and raise interest rates.
The dollar index, which compares the greenback to six rival currencies, fell 0.18% to 94.358 Today, after reaching 94.563 for the first time since late September 2020 and The dollar dropped almost 0.13% to 113.465 yen, down from a three-year high of 113.785 yen in the previous session.
While The euro was able to get some Bullish momentum and rose 0.18% to $1.1551, up from $1.1522, its lowest level in over 15 months.
Oil prices fell on Wednesday as investors worried that demand for oil would slow as major economies struggled with inflation and supply chain challenges, however increasing costs for power generation fuels such as coal and natural gas reduced losses.
Brent crude futures were down 11 cents, or 0.1%, at $83.31 per barrel continuing a 23 cent loss on Tuesday. At the same time West Texas Intermediate (WTI) oil futures in the United States slipped 11 cents to $80.53 a barrel after rising 12 cents.
Both contracts reduced losses after plunging as much as 70 cents earlier after China, the world’s largest oil importer, revealed data showing September imports were down 15% year on year. However, China, along with Europe and India, are still suffering from coal and natural gas shortages, which have driven up the cost of electric generation fuels.
Important news that could affect the Economic Markets Today :
- Core CPI (MoM) (Sep)
- Core CPI (YoY) (Sep)
- FOMC Meeting Minutes
- CPI (YoY) (Sep)
- CPI (MoM) (Sep)
- GDP (MoM)
- GDP (YoY)
- BoE MPC Member Cunliffe Speaks.
Employment Change (Sep) in Australia