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Dow Jones futures gains ahead of US PPI, Retail Sales data
Dow Jones futures rise by 0.46% to trade near 52,090 during European hours on Thursday. S&P 500 futures decline 0.33% to trade around 7,740, while Nasdaq 100 futures fall by 1.30% to near 29,780.
102.00: United States Dollar Index skids below this level
The US Dollar (USD) underperforms its major currency peers on Thursday as hot United States (US) Consumer Price Index (CPI) data for September has failed to bring a meaningful impact on Federal Reserve’s (Fed) interest rate expectations.
Fed's Daly: More rate hikes likely, timing still under consideration
Federal Reserve (Fed) President Mary Daly said on Wednesday that the central bank will probably need to increase short-term interest rates further ‌to rein in too-high inflation. However, she also signaled there's no need to do so at the Fed's October 27-28 meeting.
Fed Beige Book flags intensifying price pressures
The US Federal Reserve (Fed) released its Beige Book, a qualitative report that summarises regional and national economic conditions and is used by the Federal Open Market Committee (FOMC) at each of its eight monetary policy meetings.
Forex Today: More US inflation alongside jobs in Oz
The US Dollar (USD) regained strong upside traction, climbing once again to fresh tops on Wednesday.
US Dollar Index roars towards 103 as hot CPI reignites Fed hike bets
The US Dollar Index (DXY), which tracks the performance of the Greenback against a basket of six major currencies, surges over 0.69% on Wednesday as US inflation data trumps the Federal Reserve (Fed) rhetoric that no rate hikes are needed in 2027.
Canadian Dollar weakens as US CPI puts October Fed hike in play
USD/CAD climbs on Wednesday, reversing the previous day’s losses as the US Dollar (USD) rallies to a fresh year-to-date high following higher-than-expected US inflation data. At the time of writing, USD/CAD trades around 1.4287, up 0.50% on the day near 18-month highs.
British Pound slides as US CPI lifts Fed rate-hike expectations
GBP/USD loses around 0.52% on Wednesday as higher-than-expected US inflation data reinforce expectations of further Federal Reserve (Fed) interest rate hikes, triggering fresh buying in the US Dollar (USD), while US Treasury yields also rebound sharply.
US Dollar: CPI to test hawkish conviction – DBS
DBS Group Research economist Philip Wee highlights how upcoming US CPI data will challenge the US Dollar’s hawkish narrative. He notes New York Fed President John Williams supports another rate hike before end-2026 but questions further tightening in 2027.
US Dollar: CPI surprise could lift DXY toward 105 - MUFG
MUFG’s Derek Halpenny highlights that G10 FX volatility has eased after the recent spike driven by higher US yields, but warns risks remain skewed to renewed turbulence. He links Middle East tensions, potential US involvement, and energy prices to further upside in yields and Dollar strength.
United States Dollar Index edges higher ahead of US CPI data
The US Dollar (USD) claws back its early losses and ticks higher ahead of the United States (US) Consumer Price Index (CPI) data for September releasing at 12:30 GMT.
Fed's Bowman signals cautious, data-dependent pause after latest rate hike
Federal Reserve (Fed) Vice Chair for Supervision Michelle Bowman said the central bank needs time to assess how financial markets and the US economy evolve following the latest interest rate hike before considering further policy action, according to Reuters.
US Dollar: Bond market calm limits further gains – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong note the US Dollar (USD) has rallied on higher US Treasury yields, energy prices and a hawkish Federal Reserve (Fed) bias, but still lacks conditions for a decisive move beyond its recent range.