Save Yourself Everyone! US Inflation Data Comes to Shake the Market


 After experiencing high price volatility earlier in the week, the market mood was seen to be calmer on Tuesday.

Investors are now more cautious ahead of the publication of US inflation data in the next New York session.

During the European market session, the dollar index that measures the greenback's strength against major currencies traded little changed at 103.90.

The US consumer price index (CPI) is expected to rise 6% year-on-year in February, down from January's reading of 6.4%.

If the published figures show that inflation remains strong and unsatisfactory, it could trigger another high volatility in the market tonight.

Not only that, it will certainly make the Federal Reserve (Fed) 'headache' to deal with inflationary pressure and the crisis that hit the US banking sector.

Looking at broader currency movements, the euro slipped 0.3% to trade at around 1.0700 against the greenback.

European Central Bank (ECB) policymakers say they do not see any impact from the collapse of Silicon Valley Bank (SVB) on European Zone banks.

Meanwhile, the yen also declined 0.8% at 132.30 against the US dollar but still maintained the gains recorded earlier.

The Aussie and New Zealand dollars were trading little changed amid softening market sentiment.