{"id":15750,"date":"2024-11-13T06:40:36","date_gmt":"2024-11-13T06:40:36","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=15750"},"modified":"2024-11-13T06:40:36","modified_gmt":"2024-11-13T06:40:36","slug":"usdx-steady-as-traders-await-inflation-data","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/usdx-steady-as-traders-await-inflation-data\/","title":{"rendered":"USDX Steady as Traders Await Inflation Data"},"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 U.S. dollar index (USDX) stands steady at 105.98, with a recent high of 106.006, as traders await U.S. inflation data.<\/li>\n\n\n\n<li>Bitcoin holds near its record, with support from Trump\u2019s pro-crypto stance and cautious sentiment in traditional markets.<\/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 index (USDX) is holding near a 6-1\/2-month high, trading at 105.98 after reaching a high of 106.006 earlier today. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This level underscores ongoing strength in the dollar as markets digest the potential impacts of \u201cTrump trades\u201d and upcoming U.S. inflation data.<\/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\">Donald Trump\u2019s election victory has catapulted US stocks to fresh records and pushed the dollar to a two-year high. It\u2019s anything but good news for the rest of the world <a href=\"https:\/\/t.co\/AxXHNpKcT8\">https:\/\/t.co\/AxXHNpKcT8<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1856546777022837083?ref_src=twsrc%5Etfw\">November 13, 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\">Following President-elect Donald Trump\u2019s recent election victory, traders have been pricing in an economic agenda that includes lower taxes and possible tariffs, which are expected to stoke inflationary pressures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This expectation has pushed up <strong><a href=\"https:\/\/t.co\/6zAQXjnHjK\">U.S. Treasury yields<\/a><\/strong>, with markets increasingly sceptical of aggressive rate cuts by the Federal Reserve under the Trump administration.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/11\/image-26-1024x437.jpeg\" alt=\"\" class=\"wp-image-15751\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>Picture: The USD Index is testing resistance at 106.00 with bullish momentum, supported by rising moving averages and a positive MACD trend, 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\">Trump\u2019s recent statements about making the U.S. the \u201ccrypto capital of the planet\u201d have fuelled optimism around digital assets, <strong><a href=\"https:\/\/t.co\/rLBcHEyzWv\">positioning Bitcoin as a potential hedge<\/a><\/strong> against inflation in a highly uncertain economic landscape.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The cryptocurrency\u2019s recent run-up reflects this sentiment, but traders are now waiting to see how upcoming U.S. economic data, including today\u2019s inflation report, may impact the broader market environment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>See also: <a href=\"https:\/\/www.vtmarkets.com\/analysis\/dollar-rises-ahead-of-fed-speakers\/\">Dollar Rises Ahead of Fed Speakers<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wednesday\u2019s Consumer Price Index (CPI) report for October is expected to show a 0.3% increase in core inflation. Any reading above this level could further reduce the likelihood of a December rate cut by the Fed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For now, the dollar\u2019s stability near its multi-month high is matched by <strong><a href=\"https:\/\/t.co\/sDI0LqzSbj\">Bitcoin\u2019s resilience<\/a><\/strong> near record levels, reflecting traders\u2019 cautious stance amid high inflation expectations and a potentially crypto-friendly U.S. administration.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The interplay between traditional and digital assets will be closely watched as key data releases unfold, with the potential for significant market moves depending on the inflation data and Fed commentary expected in the coming days.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Start trading now \u2014 click\u00a0<\/strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\"><strong>here<\/strong><\/a><strong>\u00a0to create your live VT Markets account.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>USDX remains close to multi-month highs as traders assess inflation data that could influence both crypto and traditional markets. &#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-15750","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\/15750","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=15750"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15750\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=15750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=15750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=15750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}