US Dollar down but not out, eyes on US CPI – by fx_ross DollarIndex EURUSD AUDUSD Currencies
Risk-off start to the week, however, should offer immediate support.
DXY, an index that measures the greenback vs. a basket of currencies dropped to 110.72 from a high of 112.993. It did so despite the fed funds futures on Friday pricing in a 52.5% chance of a 75-basis-point interest rate hike next month and a 47.5% probability of a 50-basis-point increase. Reuters reported that the odds of a 75-basis-point rise went as high as 64% immediately after the payrolls data. The Fed's terminal rate, or the level at which rates would peak, slipped to 5.
in recent months to contributing to it in Oct. All told, our m/m forecasts imply 7.9%/6.5% YoY for total/core prices.''The price is testing a key area of support but is on the backside of the micro trendline which could be bearish for the week ahead. A move below 110.80 then 109.63 and 107.80, would be significant for the outlook forInformation on these pages contains forward-looking statements that involve risks and uncertainties.
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