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Trades are awaiting consumer pricing data as the dollar holds steady against low bond yields.
As the dollar holds steady against low bond yields, trades are awaiting consumer pricing data. This data is important because it helps to set prices for goods and services. If the data shows that prices are rising, then businesses may raise their prices. If the data shows that prices are falling, then businesses may lower their prices.
The dollar remained stable on Wednesday despite negative pressure from falling bond yields and rising stocks as traders awaited this week’s consumer price data from the United States to see if it would support the idea that inflation is on the decline.
As a result of statistics showing that the annual rate of inflation jumped to 7.3% in November, providing opportunity for more rate hikes, the Australian dollar edged up by approximately 0.3% to $0.6912. The value of the New Zealand dollar increased 0.2% to $0.6380.
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