{"id":1459,"date":"2023-10-13T20:07:21","date_gmt":"2023-10-13T20:07:21","guid":{"rendered":"https:\/\/infundpros.com\/markets\/currencies\/dollar-edges-lower-ahead-of-key-u-s-cpi-release-u-k-gdp-rose-in-august\/"},"modified":"2023-10-13T20:07:22","modified_gmt":"2023-10-13T20:07:22","slug":"dollar-edges-lower-ahead-of-key-u-s-cpi-release-u-k-gdp-rose-in-august","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=1459","title":{"rendered":"Dollar edges lower ahead of key U.S. CPI release; U.K. GDP rose in August"},"content":{"rendered":"
\n

Investing.com – The U.S. dollar slipped lower in early European trade Thursday, hovering near a two-week low ahead of the release of key U.S. inflation data.<\/p>\n

At 03:15 ET (07:15 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower at 105.377, just above the day\u2019s low, the weakest level in two weeks.<\/p>\n

Higher bond yields to replace rate hike?<\/strong><\/h2>\n

The from the Fed\u2019s last meeting, released on Wednesday, indicated that most of the central bank\u2019s policymakers agreed that one more rate hike would be “appropriate” as inflation continues to trend well above target.<\/p>\n

That said, the minutes also pointed to uncertainties around the economy as supporting “the case for proceeding carefully in determining the extent of additional policy firming that may be appropriate.”<\/p>\n

The weeks following the September meeting have seen a sharp rise in Treasury yields, and this has been cited by a number of Fed officials as a factor that may allow them to end the rate hike cycle, to the detriment of the U.S. currency.<\/p>\n

\u201cU.S. yields continued to correct lower on expectations the Fed will let markets do the tightening and refrain from hiking again,\u201d said analysts at ING, in a note. \u201cWe suspect, however, that further bond rallies might put a hike back on the table, and limit USD losses.\u201d<\/p>\n

U.S. CPI due later in session<\/strong><\/h2>\n

Losses have been limited Thursday after September\u2019s U.S. figures came in much stronger than expected, creating a degree of tension ahead of the consumer price reading later in the session.<\/p>\n

Analysts expect the to rise 3.6% from last year and 0.3% for the month, while , which excludes food and fuel prices, is expected to rise 4.1% from last year and 0.3% from August.<\/p>\n

\u201cThe argument for a long-lasting dollar decline from these levels is not very compelling unless the drop in rates is endorsed by slower-than-expected inflation. We still think it will take a turn in the U,S, data flow to drive the dollar substantially – and sustainably – lower,\u201d ING added.<\/p>\n

U.K. economy grew in August<\/strong><\/h2>\n

rose 0.1% to 1.2323 after the grew 0.2% in August, according to data released earlier Thursday, partially recovering after a sharp 0.6% drop in July.<\/p>\n

This growth reduces the possibility of a recession starting as early as the July-September period, with the ONS stating that the economy would need to grow by 0.2% in September to avoid a contraction in the third quarter.\u00a0<\/p>\n

Euro climbs to two-week high<\/strong><\/h2>\n

rose 0.2% to 1.0634, with the euro continuing to rise after touching an over two-week high on Wednesday.<\/p>\n

\u201cOur short-term fair value model suggests that we could see the upward correction in EUR\/USD extend to 1.0700, but we think that may be the top of the range unless US CPI surprises on the soft side,\u201d ING said.<\/p>\n

Elsewhere, rose 0.1% to 0.6419, fell 0.2% to 0.6006 and edged lower to 7.2977.<\/p>\n

\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com – The U.S. dollar slipped lower in early European trade Thursday, hovering near a two-week low ahead of the release of…<\/p>\n","protected":false},"author":1,"featured_media":1460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":{"0":"post-1459","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-currencies"},"yoast_head":"\nDollar edges lower ahead of key U.S. CPI release; U.K. GDP rose in August | inFundPros<\/title>\n<meta name=\"description\" content=\"Investing.com - The U.S. dollar slipped lower in early European trade Thursday, hovering near a two-week low ahead of the release of key U.S. inflation\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=1459\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar edges lower ahead of key U.S. CPI release; U.K. GDP rose in August | inFundPros\" \/>\n<meta property=\"og:description\" content=\"Investing.com - The U.S. dollar slipped lower in early European trade Thursday, hovering near a two-week low ahead of the release of key U.S. inflation\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infundpros.com\/?p=1459\" \/>\n<meta property=\"og:site_name\" content=\"inFundPros\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-13T20:07:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-13T20:07:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/moved_LYNXMPEI7N017_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"520\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Press Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Press Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/infundpros.com\/?p=1459#article\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/?p=1459\"},\"author\":{\"name\":\"Press Room\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\"},\"headline\":\"Dollar edges lower ahead of key U.S. CPI release; U.K. GDP rose in August\",\"datePublished\":\"2023-10-13T20:07:21+00:00\",\"dateModified\":\"2023-10-13T20:07:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/infundpros.com\/?p=1459\"},\"wordCount\":500,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"articleSection\":[\"Currencies\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/infundpros.com\/?p=1459#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/infundpros.com\/?p=1459\",\"url\":\"https:\/\/infundpros.com\/?p=1459\",\"name\":\"Dollar edges lower ahead of key U.S. CPI release; U.K. GDP rose in August | inFundPros\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/#website\"},\"datePublished\":\"2023-10-13T20:07:21+00:00\",\"dateModified\":\"2023-10-13T20:07:22+00:00\",\"description\":\"Investing.com - The U.S. dollar slipped lower in early European trade Thursday, hovering near a two-week low ahead of the release of key U.S. inflation\",\"breadcrumb\":{\"@id\":\"https:\/\/infundpros.com\/?p=1459#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/infundpros.com\/?p=1459\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/infundpros.com\/?p=1459#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/infundpros.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dollar edges lower ahead of key U.S. CPI release; U.K. GDP rose in August\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/infundpros.com\/#website\",\"url\":\"https:\/\/infundpros.com\/\",\"name\":\"Fintech Advance\",\"description\":\"Latest Finance and Tech News and Updates\",\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/infundpros.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/infundpros.com\/#organization\",\"name\":\"Fintech Advance\",\"url\":\"https:\/\/infundpros.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"width\":409,\"height\":70,\"caption\":\"Fintech Advance\"},\"image\":{\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\",\"name\":\"Press Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"caption\":\"Press Room\"},\"sameAs\":[\"https:\/\/infundpros.com\"],\"url\":\"https:\/\/infundpros.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dollar edges lower ahead of key U.S. CPI release; U.K. GDP rose in August | inFundPros","description":"Investing.com - The U.S. dollar slipped lower in early European trade Thursday, hovering near a two-week low ahead of the release of key U.S. inflation","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infundpros.com\/?p=1459","og_locale":"en_US","og_type":"article","og_title":"Dollar edges lower ahead of key U.S. CPI release; U.K. GDP rose in August | inFundPros","og_description":"Investing.com - The U.S. dollar slipped lower in early European trade Thursday, hovering near a two-week low ahead of the release of key U.S. inflation","og_url":"https:\/\/infundpros.com\/?p=1459","og_site_name":"inFundPros","article_published_time":"2023-10-13T20:07:21+00:00","article_modified_time":"2023-10-13T20:07:22+00:00","og_image":[{"width":800,"height":520,"url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/moved_LYNXMPEI7N017_L.jpg","type":"image\/jpeg"}],"author":"Press Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Press Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/infundpros.com\/?p=1459#article","isPartOf":{"@id":"https:\/\/infundpros.com\/?p=1459"},"author":{"name":"Press Room","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff"},"headline":"Dollar edges lower ahead of key U.S. CPI release; U.K. GDP rose in August","datePublished":"2023-10-13T20:07:21+00:00","dateModified":"2023-10-13T20:07:22+00:00","mainEntityOfPage":{"@id":"https:\/\/infundpros.com\/?p=1459"},"wordCount":500,"commentCount":0,"publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"articleSection":["Currencies"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/infundpros.com\/?p=1459#respond"]}]},{"@type":"WebPage","@id":"https:\/\/infundpros.com\/?p=1459","url":"https:\/\/infundpros.com\/?p=1459","name":"Dollar edges lower ahead of key U.S. CPI release; U.K. GDP rose in August | inFundPros","isPartOf":{"@id":"https:\/\/infundpros.com\/#website"},"datePublished":"2023-10-13T20:07:21+00:00","dateModified":"2023-10-13T20:07:22+00:00","description":"Investing.com - The U.S. dollar slipped lower in early European trade Thursday, hovering near a two-week low ahead of the release of key U.S. inflation","breadcrumb":{"@id":"https:\/\/infundpros.com\/?p=1459#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/infundpros.com\/?p=1459"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/infundpros.com\/?p=1459#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/infundpros.com\/"},{"@type":"ListItem","position":2,"name":"Dollar edges lower ahead of key U.S. CPI release; U.K. GDP rose in August"}]},{"@type":"WebSite","@id":"https:\/\/infundpros.com\/#website","url":"https:\/\/infundpros.com\/","name":"Fintech Advance","description":"Latest Finance and Tech News and Updates","publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/infundpros.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/infundpros.com\/#organization","name":"Fintech Advance","url":"https:\/\/infundpros.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","width":409,"height":70,"caption":"Fintech Advance"},"image":{"@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff","name":"Press Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/person\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","caption":"Press Room"},"sameAs":["https:\/\/infundpros.com"],"url":"https:\/\/infundpros.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/1459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1459"}],"version-history":[{"count":1,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/1459\/revisions"}],"predecessor-version":[{"id":1461,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/1459\/revisions\/1461"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/media\/1460"}],"wp:attachment":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}