US CPI data due tonight could be another key test for currency markets, particularly the dollar, following Friday's stronger-than-expected non-farm payroll data, analysts at UniCredit said in a note.
Persistent stickiness in prices could lead investors to consider reducing expectations for future rate cuts by the Federal Reserve, thereby supporting the dollar. If that happens, the EUR/USD could fall below 1.09 and the USD/JPY could break through 150. A drop in headline CPI could cause the dollar to fall slightly, but it is unlikely to be enough to lift the EUR/USD above 1.10.
UniCredit Bank: CPI will be a key test for the dollar
2024-10-10 07:31:24
Letter Bank analysts a report said in following on Friday strong expecteddesk3cryptocurrencydesktopCrypto News
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