May 11, 2022
EUR/USD 1.0559 GBP/USD 1.2373 USD/CAD 1.2944 AUD/USD 0.7027 USD/JPY 130.18 USD/CNH 6.7406 USD/ILS 3.4295 USD/MXN 20.2792 USD/CHF 0.9894 USD/INR 77.24 USD/BRL 5.1185 USD/SGD 1.3851 USD/DKK 7.0465 USD/SEK 9.9790 USD/NOK 9.6530
The US consumer price index rose more than expectations. Forecasted CPI was 0.1% for April, but actuals came in at 0.3%. The DXY jumped 0.20% after the release, but has since evened out to yesterday’s levels. The dollar is trading lower on the day given the inflation news.GBP
Since the release of the US CPI data sterling had an initially slide of 0.80%. Cable has since recovered and the pair is trading around $1.23.EUR
ECB President Lagarde hinted the central bank could raise interest rates as soon as July since inflation continues to rise in the eurozone. Similar to the sterling, the euro fell after the initial release of the US CPI data, but has since recovered and is trading above yesterday’s rates.CADSince the US CPI announcement, the loonie has strengthened 0.71%. WTI Crude oil prices and Brent Crude are up 4.56% and 4.06% respectively.ASIA/PACIFIC
NZD/USD rates rose to start the day, gaining 1.19% against the dollar. AUD/USD rates also rallied this morning with the Aussie dollar up 1.40% on the day. The jump in oil prices help to boost the commodity linked currencies, as well as the general dollar weakness.
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