After the tied inflation and unemployment data, operators’ eyes are on the French and British economies.
The global dollar rose slightly and remains near its two-month high.
Photo: Pixabay
He global dollar traded steady near a two-month high in the early hours of Friday, as traders digested the latest inflation and employment data from USA, while an increase in British economic growth failed to lift the pound from its one-month lows.
He dollar index held steady at 102.91, taking a breather after a recent steady rise that took it above 103 on Thursday, its highest level since mid-August, as traders reduced bets on further rate cuts. interest rates on the part of the United States Federal Reserve (Fed) at its remaining meetings this year.
As for the rest of the currencies, the euro remained stable at $1.1093, the pound sterling rose 0.08% to $1.3072, while the dollar rose 0.35% against the japanese yen at 149.12.
Signs of the United States economy
An indicator of producer prices U.S. rates were unchanged in September, the Labor Department reported, the latest economic data to indicate the Fed will likely cut rates again next month.
The consumer prices in September they rose 0.3%, according to data released Thursday, slightly more than expected, while weekly jobless claims rose, indicating labor market weakness. Weekly data on subsidy applications by unemployment were biased by Hurricane Helene. Next week’s data will be affected by the Hurricane Milton the second hurricane in two weeks to hit the southeastern United States.
Markets are betting on a nearly 91% chance of a 25 basis point cut at the next Fed meeting and a 9% chance of no cut, according to the tool. Fedwatch from CME.
“That slightly higher inflation figure has moved the market away from being too aggressive about the depth of the interest rate cuts they expected by the end of the year,” he said. Amarjit SahotaCEO of Klarity FX in San Francisco. “So there was already an overpricing and that has basically been dismantled this week,” he added.
Source: Ambito
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