US dollar strength and the impact of China’s Covid lockdowns remain the focus for traders ahead of a big week for economic updates.
Wednesday’s US inflation figure, with an expected fresh 40-year high of 8.8%, is likely to push the US Federal Reserve towards another big hike in interest rates next month.
The rates speculation has lifted the US dollar index towards 20-year highs, while there are fresh concerns about China’s economy after curbs were reimposed today to deal with fresh outbreaks.
