Dollar turns lower ahead key economic data

2021-05-14 12:15:39 GMT (Economies.com)
Dollar turns lower ahead key economic data

The US dollar fell against most of its counterparts on Friday, ahead of the release of key US economic data, while markets follow the latest updates of the coronavirus pandemic.

 

The coronavirus crisis continued to escalate in India especially after a new mutated strain of the virus emerged in the country, which is more severe and faster to spread.

 

Recent economic data in the US signaled a rise in inflation, which raised market concerns.

 

The US retail sales reading will be released later today, which shows the levels of spending and consumption in the US economy.

 

Data also showed a jump in the US consumer price index and the producer price index this week, which signals that inflation will rise above the Fed's target soon.

 

The dollar index fell against a basket of major currencies by 0.3% to 90.5 points as of 11:01 GMT, after hitting a high of 90.8 points and a low of 90.4 points.

 
 
 
  Symbol Last Change Chg.%
1.1930
0.0028
0.2365%
1.3917
0.0023
0.1688%
Tadawul
10919.68
6.62
0.06%
25.925
-0.063
0.242%
73.532
1.706
2.375%
75.56
0.32
0.43%
1774.215
-4.175
0.235%
 
 
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