The Greenback came under renewed downside pressure following further cooling of the US labour market as well as extra signs that disinflationary pressures remained far from abated in August, this time via Producer Prices.
Those readings seem to have cemented investors’ prospects of a rate cut by the Fed at its meeting next week. Here is what you need to know on Friday, September 13: The US Dollar Index halted a four-day positive streak on the back of the resurgence of the downward bias in response to soft US data. Import and Export Prices are due on September 13, seconded by the preliminary Michigan Consumer Sentiment gauge.
The next risk event on the UK docket will be the release of the Inflation Rate on September 18. USD/JPY extended its weekly leg lower and revisited once again the area below the 142.00 support on the back of higher yields and the daily pullback in the Greenback. The final Industrial Production prints are due on September 11, along with Capacity Utilization. AUD/USD advanced to weekly tops and left behind the 0.6700 hurdle following the intense buying interest in the risk-linked assets.
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