Dollar Sellers Hit Pause for US Inflation Data
Economists polled by Reuters expect October U.S. inflation to rise 3.9% as markets price a 85% chance of a Federal Reserve hike.
- On Tuesday, the dollar found support in Asia as markets awaited US inflation data that could bolster Federal Reserve rate hike bets.
- Expectations for rate cuts turned to bets on hikes this year after the US-Israeli war on Iran drove up energy prices and fueled inflation.
- The euro jumped 0.7 per cent to $1.1220, reversing a Friday fall, while Japan sold $97 billion in reserves defending the yen through late July and August.
- Markets price an 85 per cent chance of a Federal Reserve rate increase next month, though fears a Democratic sweep of Congress could slow growth.
- Macquarie strategists Thierry Wizman and Gareth Berry said, "This could be a factor that slows US growth in 2027 and helps put a top in for the dollar.
18 Articles
18 Articles
US dollar steadies as Fed governor calls for more rate hikes
[GDANSK/LONDON] The US dollar nudged higher on Tuesday (Nov 10) following a bumpy few days, helped by hawkish remarks from Federal Reserve Governor Christopher Waller ahead of US inflation data that c... Read more at The Business Times.
Falling oil prices and rising stock markets have led investors to shift towards riskier assets, causing the dollar to give back its gains. The dollar index hovered around 101.7 on Tuesday as markets awaited the US October inflation report for its impact on interest rate expectations.
Channel News Asia
Dollar sellers hit pause for US inflation data
SYDNEY, Nov 10 : The dollar found support following a bumpy few days and held firm in Tuesday's Asia session while traders waited for US inflation data, which could push it higher if it bolsters rate hike bets.A tumble in oil prices and gains overnight for stocks had knocked the dollar lower as investors rota
The dollar is declining slightly, and US Treasury yields remain stable ahead of the release of US consumer inflation data. Lower energy prices and increased investor risk appetite are putting pressure on the currency, reports the Wall Street Journal.
News from Egypt: Asian currency performance varied during today/Tuesday's dealings, following strong gains recorded at the previous meeting, while the United States dollar maintained its recent losses, as investors looked forward to the US inflation data that they might be able to see.
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