The US Dollar faced renewed selling pressure as market participants digested the latest US inflation figures.
In the meantime, bets on an ECB rate cut in June picked up pace, and a potential BoJ’s lift-off looks increasingly likely next week. Here is what you need to know on Thursday, March 14: The USD Index reversed two consecutive daily advances and refocused on the downside. On March 14, Producer Prices and Retail Sales will take centre stage in the US docket seconded by Business Inventories and usual weekly Initial Jobless Claims. EUR/USD extended its recovery to three-session tops near 1.
The RICS House Price Balance is only due across the Channel on March 14. USD/JPY saw its upside bias reinvigorated, briefly advancing past the 148.00 barrier despite investors’ speculation of a BoJ’s lift-off next week. On March 14, weekly Foreign Bond Investment readings are only due in Japan. In line with the rest of the risk-related assets, AUD/USD set aside two daily drops in a row and rose past the key 0.6600 barrier helped by the jump in copper prices.
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