Dollar Declines Ahead of U.S. Inflation Data Release
On June 10, the dollar fell slightly as investors became cautious ahead of the U.S. inflation data set to be released later today. Analysts at Deutsche Bank stated in a report, "This is important data, as speculation about Federal Reserve interest rate hikes has been heating up in recent weeks." They noted that this was initially driven by shocks in energy prices, but three consecutive employment reports have exceeded expectations. They mentioned that the labor market aspect of the Fed's dual mandate appears to be increasingly solid, allowing it to focus on inflation. Data from the London Stock Exchange Group indicates that the market currently expects a 25 basis point rate hike by the end of the year, with another hike anticipated next year. The data is scheduled for release at 1230 GMT. The DXY dollar index fell by 0.1% to 99.854.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Chevron initiates shutdown procedures at four facilities in the Gulf of Mexico due to tropical storm.
Chevron (CVX.US): In response to a tropical storm, production shutdown procedures have been initiated at four Chevron-operated facilities in the Gulf of Mexico, with some additional personnel being relocated to onshore locations. Production at five other Gulf of Mexico facilities remains at normal levels. Onshore facilities will continue to follow established storm response protocols.
Another wave of AI infrastructure financing! Broadcom (AVGO.US) is planning over 50 billions USD in financing for OpenAI's chip project.
According to Odaily, foreign media reported that Broadcom (AVGO, US) is arranging over 50 billions USD in financing for its joint development with OpenAI of custom artificial intelligence chips, becoming the latest example in a wave of financing deals for AI infrastructure.
Samsung Electronics’ Q3 operating profit reached 107.40 trillion won, up 782.5% year-on-year
Samsung Electronics reported Q3 sales of 195.00 trillion KRW, up 126.59% year-on-year; operating profit was 107.40 trillion KRW, an increase of 782.5% year-on-year.
EUR/USD hits 1.1200, up 0.04% intraday
The euro against the US dollar has just reached the 1.1200 level, now quoted at 1.1200, up 0.04% on the day.
Crypto prices
More
