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US Dollar Stable After Fed Decision

November 8, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas releases market commentary from Fadi Al Kurdi founder CEO FFA Kings.

The U.S. dollar remained stable following a pullback in the prior session. The currency pared nearly half of the gains spurred by Donald Trump's election victory earlier this week. Market participants are assessing the latest 25 basis point rate cut by the Federal Reserve. Fed Chair Powell emphasized a data-dependent approach, stressing that the Fed's commitment is to maintaining a stance that is independent of political influences, including Trump's re-election.

Looking ahead, market focus will shift to the Michigan Consumer Sentiment data, which may provide insights into consumer confidence. Elevated consumer confidence could amplify inflationary concerns, potentially prompting more hawkish expectations for the Fed, lending support to the greenback. Meanwhile, Trump's proposed trade policies are seen as adding to inflationary pressures, leading investors to temper their expectations for rate cuts in 2025.

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Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

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