{"id":15724,"date":"2024-11-11T06:08:21","date_gmt":"2024-11-11T06:08:21","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=15724"},"modified":"2024-11-11T06:08:21","modified_gmt":"2024-11-11T06:08:21","slug":"dollar-rises-ahead-of-fed-speakers","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/dollar-rises-ahead-of-fed-speakers\/","title":{"rendered":"Dollar Rises Ahead of Fed Speakers"},"content":{"rendered":"\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>Key Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The dollar gains as U.S. inflation data looms and Fed speakers are expected to give policy insights.<\/li>\n\n\n\n<li>Disappointment in China\u2019s stimulus weighs on the yuan and Australia, New Zealand dollars.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p class=\"wp-block-paragraph\">The U.S. dollar edged higher on Monday as traders anticipated U.S. inflation data and a series of speeches from Federal Reserve officials, both of which could shape the trajectory of interest rates.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Dollar underpinned before US inflation data, Fed speakers <a href=\"https:\/\/t.co\/16k70q5OKq\">https:\/\/t.co\/16k70q5OKq<\/a> <a href=\"https:\/\/t.co\/TfeUnWXAo1\">pic.twitter.com\/TfeUnWXAo1<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1855840408992964822?ref_src=twsrc%5Etfw\">November 11, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In Asia, the yuan struggled to recover after Beijing\u2019s recent stimulus measures failed to inspire confidence, highlighting persistent economic concerns. Meanwhile, the Australian and New Zealand dollars faced declines due to their countries&#8217; reliance on Chinese demand.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">U.S. Dollar Gains on Inflation Expectations<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The dollar\u2019s recent strength has been bolstered by expectations that upcoming U.S. inflation data may reinforce the case for a restrained pace of Federal Reserve rate cuts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The dollar index closed at 104.955, close to its recent high of 105.085. Traders are now looking ahead to Thursday\u2019s U.S. consumer price data, with an eye on the core inflation reading.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/11\/image-22.jpeg\" alt=\"\" class=\"wp-image-15725\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>Picture: The USDX is in a steady uptrend, supported by moving averages and mild MACD bullishness, facing resistance at 105.085, as seen on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" title=\"\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Should it exceed the 0.3% forecast, it would reduce the likelihood of a December rate cut, supporting the dollar.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In parallel, a range of <strong><a href=\"https:\/\/t.co\/eyUTz6ZumW\">Federal Reserve officials<\/a><\/strong> are scheduled to speak this week, including Chair Jerome Powell on Thursday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Market participants will scrutinise these comments for any clues about the Fed\u2019s rate path, particularly as JPMorgan economist Michael Feroli notes the expectation of only one further rate cut per quarter after December.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With the Fed potentially nearing a terminal rate of 3.5%, the dollar\u2019s long-term outlook remains positive.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Week Ahead Holds Dollar Future<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This week promises to be eventful for currency markets, with several data releases and speeches that could influence the dollar\u2019s trajectory.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>See also: <\/strong><strong><a href=\"https:\/\/www.vtmarkets.com\/market_analysis\/week-ahead-market-digests-trump-trade-policies\/\">Week Ahead: Market Digests Trump Trade Policies<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With the dollar standing firm amid U.S. economic resilience and policy clarity, and the <strong><a href=\"https:\/\/t.co\/t58M3kz6H6\">euro<\/a><\/strong> and <strong><a href=\"https:\/\/t.co\/jL70LlVhBJ\">yen<\/a><\/strong> weighed down by political and economic concerns, the dollar appears well-positioned for continued strength.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The week\u2019s data and Fed commentary will be pivotal in shaping sentiment, as traders brace for potential shifts in the global economic landscape.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Start trading now \u2014 click <a href=\"https:\/\/www.vtmarkets.com\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\">here<\/a> to create your live VT Markets account.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dollar strengthens as markets await U.S. inflation data and Fed insights. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[28,31],"class_list":["post-15724","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-dollar","tag-indices"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/comments?post=15724"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15724\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=15724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=15724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=15724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}