US dollar trading on Wednesday seemed to lose direction when the US (US) producer inflation report published triggered a mixed reaction in the market.
The US producer price index (PPI) reading for August recorded -0.1%, showing the first drop in 4 months.
Adding to the expectation of an interest rate cut by the Federal Reserve (Fed) next week, investors will await the next clue through the US consumer inflation (CPI) report in the New York session tonight.
The US dollar, however, did not show a drastic decline with the direction of price movement being quite mixed yesterday.
It simply eliminated the strengthening momentum that was displayed the previous day, it is possible that the price reaction will be clearer after the CPI data is published.
Meanwhile, the focus today will also be on the results of the European Central Bank policy meeting.
The market expects the European Central Bank (ECB) to keep interest rates unchanged at 2.15% for this meeting.
The follow-up statement to be delivered by President Christine Lagarde will be of greater concern in assessing the direction of the central bank's monetary policy, as well as influencing the movement of the Euro currency.
