The U.S. Dollar Holds Firm Amid Strong Economic Data
November 14, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas releases market commentary from Quasar Elizundia,Expert Research Strategist at Pepperstone.
"The U.S. dollar remains somewhat in an advance mode during the session, reaching levels not seen since last year, with the USD index (DXY) finding resistance at the 107-point level. Recent economic data in the United States provided initial support, though some of the movements following Thursday's positive results have been mitigated.
On the one hand, the new inflation metrics showed gains. Following the increase in the Consumer Price Index (CPI) yesterday, the Producer Price Index (PPI) also rose in October, with a monthly rise of 0.2% and a year-over-year increase of 2.4%, surpassing market expectations. As for the core PPI, excluding food and energy, prices increased 0.3% monthly and 3.1% year-over-year, representing the fastest acceleration in four months.
Additionally, initial unemployment claims reached their lowest level since May, coming in at 217,000 claims. This data brings relative calm regarding potential uncertainties about the labor market following the October NFP figures, which were impacted by volatility from strikes and storms. Together, these data reinforce the idea that the Federal Reserve may not need to cut rates significantly next year, as the economy appears to continue showing resilience and there are relative signs of moderation in disinflationary progress.
Moreover, certain uncertainties remain, particularly regarding the policies of the upcoming administration. Proposed increased restrictions on immigration and trade could add to inflationary pressures, which has further supported the advances of the U.S. dollar.
In summary, the recent advances of the USD are supported both by the strength of economic data and by the expectation of a political environment that could increase inflationary pressures in the medium/long term. This has driven the DXY index to levels not seen since last year, all while markets assess the potential future Fed decisions and the impact of the new administration."
About Investorideas.com - Big Investing Ideas
Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.
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. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Learn more about our news, PR and social media, podcast and ticker tag services at Investorideas.com
https://www.investorideas.com/Investors/Services.asp
Learn more about digital advertising and guest posts
https://www.investorideas.com/Advertise/
Follow us on X @investorideas @stocknewsbites
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Sign up for free stock news alerts at Investorideas.com
https://www.investorideas.com/Resources/Newsletter.asp
Contact Investorideas.com
800 665 0411
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.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp