Australian dollar falls on renewed fears over Omicron
The Australian dollar fell against most currencies on Monday, due to renewed fears over the Omicron variant.
The UK's health authorities reported the first death caused by the Omicron variant, which raised fears of the return of lockdown restrictions, especially as Omicron is known for its ability to spread and resist vaccines.
The Federal Reserve's monetary policy meeting will launch tomorrow for two days, followed by the monetary policy statement and decision.
The US consumer price index rose by 0.8% in November after rising by 0.9% in October, higher than forecasts of a rise by 0.7%.
The year-on-year reading rose to 6.8% in November, the highest level since June 1982.
As of 16:43 GMT, AUD/USD fell by 0.7% to 0.7121.
US stocks fall amid anticipation of Fed meeting
US stock indices fell in early trading on Monday, ahead of the Federal Reserve's meeting this week.
The US consumer price index rose by 0.8% in November after rising by 0.9% in October, higher than forecasts of a rise by 0.7%.
The year-on-year reading rose to 6.8% in November, the highest level since June 1982.
The Federal Reserve's monetary policy meeting will launch tomorrow for two days, followed by the monetary policy statement and decision.
As for stocks, Dow Jones fell 0.6% or 230 points to 35,740 as of 14:54 GMT, and S&P 500 fell 0.5% or 23 points to 4,689, while Nasdaq fell 0.4% or 57 point to 15,573.
Copper holds as dollar edges higher
Copper prices held steadily on Monday, as the US dollar rose slightly against most currencies, amid focus on the coronavirus pandemic.
The US consumer price index rose by 0.8% in November after rising by 0.9% in October, higher than forecasts of a rise by 0.7%.
The year-on-year reading rose to 6.8% in November, the highest level since June 1982.
The Federal Reserve's monetary policy meeting will launch tomorrow for two days, followed by the monetary policy statement and decision.
The dollar index rose against a basket of major currencies by 0.1% to 96.2 points as of 14:29 GMT, after hitting a high of 96.4 points and a low of 95.05 points.
Copper March futures rose less than 0.1% to $4.28 per pound as of 14:24 GMT.
Dollar jumps to 1-week high on US rate hike bets
The US dollar jumped to a 1-week high against its peers on Monday, after the US inflation data stoked bets the Federal Reserve might raise interest rates sooner than May 2022
The dollar index rose 0.3% to a 1-week high at 96.45 points, after opening at 96.05 points, and hit a low at 96.05 points.
The index fell 0.2% on Friday, after rising by 0.3% in the previous day thanks to the US weekly jobless claims data.
Consumer prices rose 6.8% in November, the fastest such rate since 1982, triggering bets surrounding the Fed's meeting this week.
The Federal Reserve's monetary policy meeting will launch tomorrow for two days.
The Fed is expected to cut the bonds purchases program much earlier than expected, opening the door for hiking interest rates in the first half of next year.