Daily digest market movers US Dollar mixed, cooling dovish bets on the Fed favors the upside
The US Dollar has eased from its recent highs as investors take profits after its recent rally against major currencies.
Chinese economic data and details of the government's stimulus package contributed to the USD's mild pullback.
Fed Chair Jerome Powell emphasized a cautious approach to rate cuts, highlighting the economy's strength.
Other Fed officials, including Kugler, echoed Powell's message, stressing the need to monitor both inflation and unemployment.
Market expectations for a December rate cut have declined in response to Powell's comments.
On the data front, Housing Starts in the US dropped by 3.1% in October, reaching 1.311 million units, according to Tuesday’s monthly report from the US Census Bureau.
Building Permits fell by 0.6% in October after a revised 3.1% decrease in September, which was initially reported as a 2.9% decline.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.