Week In Review: US Dollar Dips, Red Hot CPI, Disappointing Retail Sales

Week In Review: US Dollar Dips, Red Hot CPI, Disappointing Retail Sales

From fxempire.com

The mood across financial markets turned cautious on Monday as traders pondered the possibility of the Federal Reserve raising interest rates sooner than expected. Surging Covid-19 cases across the globe also weighed on sentiment, hitting appetite for riskier assets. Our trade of the week was gold. We questioned whether the precious metal would be in trouble as rising inflation boosted expectations around for higher interest rates. On Tuesday, king dollar weakened, even after Federal Reserve Chairman Jerome Powell stated during his Senate confirming hearing that the central bank was likely to raise interest rates ... (full story)

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