Market Movers: US Dollar Depressed Down On Chinese Yuan

The US dollar came under pressure overnight as the strengthening of the Chinese yuan, the allegedly most market participants due to the intervention of the Central Bank of China. The weakening US dollar is pushing the strengthening of commodity prices such as gold, silver and crude oil. While the effect of the strengthening of the yuan this variety to the movement of the Asian stock indices. China's Shanghai stock index, Hang Seng and Kospi rose while Nikkei thin depressed.

The exchange rate pound strengthened on optimism the Bank of England (BoE) in its monetary meeting yesterday evening to the British economy. The BoE said that the turmoil in China did not give a bad effect on the British economy.

Today the US dollar will gain market mover of the data in August Producer Price Index and US Consumer Sentiment survey data in September. Both of these data are estimated to be lower than previous results. The pressure drop for the US dollar could increase if the result is appropriate or lower than predicted.

Today the market players also kakna notice of meetings of European finance ministers in the ECOFIN forums and official speeches the Bank of England, Kristin Forbes.