Financial Mirror on Nostr: Dollar tumbles on soft inflation, weak retail sales ========== The EURUSD pair ...
Dollar tumbles on soft inflation, weak retail sales
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The EURUSD pair refreshed its monthly high near 1.0870 in Wednesday’s early New York session. The major currency strengthened as the U.S. Consumer Price Index eased in line with CPI estimates and the monthly Retail Sales remained stagnant for April. The DXY Dollar Index, which tracks the greenback’s value against six major currencies, tumbled to a month low around 104.50. The 10-year US Treasury yields also plunged to 4.36% as weak data is expected to boost expectations for the Federal Reserve to begin reducing interest rates from the September meeting. The Euro remains upbeat as hope that higher interest rates for longer by the Fed will slow the pace at which the European Central Bank was anticipated to return to policy normalisation. On the economic data front, Eurostat has released a second estimate of preliminary Q1 Gross Domestic Product data. The GDP report indicated that quarterly and annualised GDP growth were in line with the consensus and the preliminary reading at 0.3% and 0.4%, respectively.
#Dollar #Inflation #RetailSales #Eurusd #ConsumerPriceIndex #RetailSales #DxyDollarIndex #UsTreasuryYields #FederalReserve #InterestRates #Euro #EuropeanCentralBank #GrossDomesticProduct #Eurostat
https://www.financialmirror.com/2024/05/15/dollar-tumbles-on-soft-inflation-weak-retail-sales/
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The EURUSD pair refreshed its monthly high near 1.0870 in Wednesday’s early New York session. The major currency strengthened as the U.S. Consumer Price Index eased in line with CPI estimates and the monthly Retail Sales remained stagnant for April. The DXY Dollar Index, which tracks the greenback’s value against six major currencies, tumbled to a month low around 104.50. The 10-year US Treasury yields also plunged to 4.36% as weak data is expected to boost expectations for the Federal Reserve to begin reducing interest rates from the September meeting. The Euro remains upbeat as hope that higher interest rates for longer by the Fed will slow the pace at which the European Central Bank was anticipated to return to policy normalisation. On the economic data front, Eurostat has released a second estimate of preliminary Q1 Gross Domestic Product data. The GDP report indicated that quarterly and annualised GDP growth were in line with the consensus and the preliminary reading at 0.3% and 0.4%, respectively.
#Dollar #Inflation #RetailSales #Eurusd #ConsumerPriceIndex #RetailSales #DxyDollarIndex #UsTreasuryYields #FederalReserve #InterestRates #Euro #EuropeanCentralBank #GrossDomesticProduct #Eurostat
https://www.financialmirror.com/2024/05/15/dollar-tumbles-on-soft-inflation-weak-retail-sales/