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After Limited Follow-Through Selling, The Dollar Has Come Back Bid
Article By:
Marc Chandler
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Thursday, May 16, 2024 8:18 AM EDT
Three of the G10 currencies rose by more than 1% against the US dollar yesterday after the softer inflation and weak retail sales readings. The Dollar Index lost almost 0.65% yesterday, the most this year.
Six Measures Of Consumer Prices
Article By:
Menzie Chinn
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Thursday, May 16, 2024 7:46 AM EDT
Despite the more frequent updating of weights in recent years’ worth of headline CPI, chained CPI (a research series) rises less. On the other hand, the CPI for wage and clerical workers rises slightly more than headline.
US Market Commentary - Thursday, May 16
Article By:
James Harte
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Thursday, May 16, 2024 6:12 AM EDT
The US Dollar plunged lower yesterday on the back of the April CPI and retail sales readings. On the inflation front, annualised CPI was seen declining for the first time in six months, dipping to 3.4% from 3.5% prior.
In this article: UUP
USD/CAD Rebounds Above 1.3600, Focus On US Data
Article By:
Lallalit Srijandorn
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Thursday, May 16, 2024 5:57 AM EDT
USD/CAD finds support at the 1.3600 psychological level and rebounds to 1.3615 in Thursday’s early European session. The recent softer US inflation and weaker Retail Sales have triggered speculation that Fed may cut rates this year.
USD/CHF Drops To Near 0.9000 Due To Dovish Sentiment Surrounding The Fed
Article By:
Akhtar Faruqui
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Thursday, May 16, 2024 5:32 AM EDT
USD/CHF extends losses due to growing expectations of multiple rate cuts by the Fed in 2024. Fed’s Neel Kashkari said that the US Fed should maintain policy rates at their current level for longer.
Thoughts For Thursday: New Highs Are Here
Article By:
David Marshall
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Thursday, May 16, 2024 5:09 AM EDT
New highs are here. The stock market interpreted the "positive" CPI data as a sign for lower interest rates down the line and the market took, off global unrest seemingly of no concern to investors.
Gold Price Drifts Higher As US CPI Inflation Fuels Fed Rate Cuts
Article By:
Lallalit Srijandorn
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Thursday, May 16, 2024 3:05 AM EDT
The gold price (XAU/USD) gains traction amid the weaker US Dollar (USD) on Thursday.
Silver Breakout To 11-Year High
Video By:
Jordan Roy-Byrne
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Thursday, May 16, 2024 1:05 AM EDT
Silver has broken out to a new daily 11-year high. The next strong target and resistance is $34-$35.
