Forex Today: US Dollar selloff pauses ahead of mid-tier data releases – by eren_fxstreet Currencies Majors Macroeconomics Commodities CryptoCurrencies
The US Dollar weakened against its major rivals on Tuesday but seems to be holding its ground early Wednesday. US stock index futures trade in positive territory in the early European morning and the 10-year US Treasury bond yield stays quiet near 3.7%. Existing Home Sales for November will be featured in the US economic docket later in the day and the Conference Board will release the December Consumer Confidence Index.
Despite rising US Treasury bond yields, XAU/USD capitalized on the selling pressure surrounding the US Dollar and posted impressive gains on Tuesday.lost nearly 50 pips on Tuesday and closed near 1.3600. The annual CPI in Canada is forecast to rise to 7.4% in November from 6.9% in October. On a yearly basis, the Core CPI is forecast to edge higher to 6.4% from 5.8%. The pair stays calm at around 1.3600 ahead of the inflation report.
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