US Dollar flattens after disappointing Nvidia earnings, dovish Fedspeak
The post US Dollar flattens after disappointing Nvidia earnings, dovish Fedspeak appeared on BitcoinEthereumNews.com.
The US Dollar flattens on Thursday after Fed’s Williams said he sees inflation cooling and interest rates falling. Investors will look at Jobless Claims data and further comments from Fed officials. The US Dollar Index trades flat around 106.50, still looking for support to bounce off from. The US Dollar (USD) is trading flat on Thursday at around 106.50 when tracked by the DXY US Dollar Index, afterNew York Fed President John Williams said that inflation continues to cool down, opening the door for a further drop in interest rates. The US Dollar has traded broadly sideways in recent days, influenced by swings coming from the war between Russia and Ukraine and, more recently, disappointing earnings from Nvidia. The US economic calendar features on Thursday the weekly Jobless Claims data and the Philadelphia Fed Manufacturing Survey for November, which will be a good leading indicator of how the sector is responding to President-elect Donald Trump’s victory. Moreover, four other Fed speakers are set to make comments today. Daily digest market movers: Walking through a pothole-filled Thursday New York Fed President John Willams delivered some dovish comments.Williams said that inflation is heading lower and interest rates should fall further. Fed’s Williams meanwhile received additional support from Richmond Fed President Tom Barkin who said in an interview on Thursday with the Financial Times that inflation will continue to drop, Bloomberg reports. On the geopolitical front, Ukraine reports that Russia has launched a ballistic missile, Bloomberg reports. At 13:30 GMT, the Weekly Jobless Claims for the week ending November 15 are due. Expectations are for a small uptick to 220,000 against the 217,000 from the week before. The Philadelphia Fed Manufacturing Survey for November is expected to decline to 8 coming from 10.3. Existing Home Sales data for October are due at 15:00…
Filed under: News - @ November 21, 2024 1:25 pm