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DAX Edges Higher Ahead Of US Inflation Data

DAX Edges Higher Ahead Of US Inflation Data

Euro, Hong Kong dollar, USA dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016.

On Tuesday, President Donald Trump fired Tillerson after a series of public rifts over policy on North Korea, Russia and Iran, replacing his chief diplomat with loyalist CIA Director Mike Pompeo.

Pompeo's views typify Trump's hard line stance on global political issues, including the Iran nuclear deal and North Korea's nuclear and missile programs, analysts said.

The correction that rocked the stock market in February coincided with a report that showed the strongest wage growth since the recession - a sign of inflation.

"The lower inflation readings relative to the previous month decreased expectations that the Federal Reserve will need to raise interest rates faster than anticipated", said James Chen, head of research at Forex.com in Bedminster, New Jersey.

Headline US inflation rose 0.2% in February, down from the 0.5% seen in January, but making for an annual rate of 2.2%.

Wells Fargo Boosts CEO Tim Sloan's Pay 36% to $17.4 Million
It turned negative, as 92 investors sold WFC shares while 725 reduced holdings. 23 funds opened positions while 99 raised stakes. Cortland Advisers Llc decreased Chevron Corp (NYSE:CVX) stake by 33,191 shares to 1.19M valued at $139.56 million in 2017Q3.

Those same markets imply the top end of the Federal Funds rate range will be just less than 2.25% on Wednesday December 19, suggesting they are less convinced about the prospect of the Federal Reserve managing four rate hikes this year rather than the three it announced in 2017.

The dollar index, which measures the U.S. dollar against a basket of currencies, was up 0.12 percent at 90.004.

Mr Tillerson's firing, coming a week after the resignation of U.S. economic adviser Gary Cohn, also weighed on the dollar. Yields fell on uncertainty over US foreign policy going forward, which will involve negotiations on trade, and with North Korea.

The Pound-to-Dollar rate was quoted down 0.34% higher at 1.3951 following the release Tuesday, after reversing an earlier loss, while the Euro-to-Dollar rate was 0.25% higher at 1.2367.

The Dollar/Yen posted a gain on Monday as investors kept an eye on a suspected cover-up of a cronyism scandal involving Japanese Prime Minister Shinzo Abe and his close ally, Finance Minister Taro Aso.


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