Markets focus on China Trade Data

Meanwhile, the dollar index trended lower to stand at 93.401, but remained slightly above a low of 93.302 seen overnight. The index tracks the dollar against a basket of rival currencies. The greenback was mostly flat against the Japanese currency, with the dollar fetching 110.75 yen at 8:02 a.m. HK/SIN.

With the overnight “data void” putting a damper on forex markets, traders are likely focusing on the U.S. consumer price index print due Friday before making major moves, OANDA Head of Trading APAC Stephen Innes said.

“Given the enormity of inflation metrics in the Fed’s rates outlook, I suspect traders will be reluctant to commit big views prior to the event (this Friday) and even more so given August’s sparse liquidity conditions,” Innes added.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and specialises in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is based in Singapore as the Head of Trading Asia Pacific with OANDA.Stephen's market views focus on the movement of G-10 and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Garvin Guy Butler, Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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