Things to watch out for on Thursday, September 12:
Financial markets turned risk averse after the U.S. released its August Consumer Price Index (CPI). The Bureau of Labor Statistics reported that the annual CPI rose 2.5% year-on-year, slowing from the previous 2.9%. The core annual figure also came in at 3.2%, in line with July's figure and expectations. However, the monthly core increase came in at 0.3%, beating expectations.
Although the U.S. CPI reading was broadly in line with expectations, financial markets played it safe as investors largely ignored a 50 basis point interest rate cut from the Federal Reserve next week. Policymakers are expected to fully price in a 25 basis point cut in coming days and gradually ease monetary policy.
Stock markets tumbled, with US stock indexes dropping sharply following the US data, but Wall Street reversed course before the close, with only the Dow Jones Industrial Average holding its fall.
Meanwhile, U.S. Treasury yields have recovered slightly since hitting a new 52-week low ahead of the release of the U.S. Consumer Price Index. The 10-year Treasury yield is now one basis point higher than the 2-year Treasury, suggesting recession fears are limited.
The EUR/USD pair is hovering around the 1.1020 level, while GBP/USD has attracted buyers around the 1.3000 level and is currently trading around the 1.3050 level. Commodity related currencies have taken advantage of the rise in equity prices the most with the AUD/USD pair approaching an intraday high around the 0.6670 level and USD/CAD trading at an intraday low in the 1.3560 price range.
The USD/JPY pair fell to 140.70 early Wednesday morning, a new low for 2024. By the close, the pair had recovered and was well above the 142.00 level. The Swiss Franc also weakened before the end of intraday trading, with USD/CHF hovering around the 0.8500 level.
Gold hovered around the $2,500 level at the peak of risk aversion but has since recovered and settled around the $2,515 level.
Thursday's macroeconomic calendar includes Australian consumer inflation expectations for September (previously 4.5%), the US producer price index (PPI) and the monetary policy decision of the European Central Bank (ECB), which is widely expected to cut each of its three key interest rates by 25 basis points.
today's us dollar price
The table below shows the percentage change of the US Dollar (USD) against the major listed currencies today. The US Dollar was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | Australian Dollar | NZD | Swiss Franc | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.01% | 0.24% | -0.16% | -0.30% | -0.28% | 0.20% | 0.48% | |
| EUR | 0.01% | 0.26% | -0.14% | -0.27% | -0.22% | 0.22% | 0.49% | |
| GBP | -0.24% | -0.26% | -1.14% | -0.54% | -0.54% | -0.04% | 0.23% | |
| JPY | 0.16% | 0.14% | 1.14% | -0.12% | -0.13% | 0.35% | 0.63% | |
| CAD | 0.30% | 0.27% | 0.54% | 0.12% | 0.00% | 0.50% | 0.76% | |
| Australian Dollar | 0.28% | 0.22% | 0.54% | 0.13% | -0.00% | 0.43% | 0.77% | |
| NZD | -0.20% | -0.22% | 0.04% | -0.35% | -0.50% | -0.43% | 0.27% | |
| Swiss Franc | -0.48% | -0.49% | -0.23% | -0.63% | -0.76% | -0.77% | -0.27% |
The heat map displays the percentage change between major currencies. The base currency is selected from the left column and the quote currency is selected from the top row. For example, if you select USD from the left column and move it along the horizontal line to Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
