US dollar indexWednesday’s rebound (9th) stopped three consecutive blackouts. The Republican Party of the United States failed to trigger a “red wave” in the mid-term elections as expected, forcing investors to turn their attention to the report. inflation on Thursday (10th). At the same time, the decline in the currency circle is unstoppable.cryptocurrencyThe acquisition of the Binance and FTX exchange was officially announced earlier.
ICE, which follows the dollar against the six major currencies, is lagging behind in New York US dollar index (DXY) rose 0.72% to 110.42, breaking a three-game losing streak.
Republicans got the upper hand in the House of Representatives as expected as polls for US midterm elections continued, but the two parties were unexpectedly blocked in the Senate, leading investors to pay more attention to inflation data. imminent.
Joe Manimbo, Convera’s senior market analyst, said expectations of a Republican victory that could lead to fiscal spending cuts and lower Fed final interest rates would be negative for the dollar. But now the market has decided to put politics aside for now and prepare for tomorrow’s inflation report.
The US will release October’s consumer price index (CPI) on Thursday and investors are waiting to see if last month’s inflation data will lead the Fed to continue raising interest rates in the next year or easing. the tightening of policies.
The market expects the US global inflation rate in October to still be at a high level.Although the core inflation rate after excluding fuel and food prices is expected to be slightly lower than the previous value, it is still not enough to mitigate inflation concerns.
Manimbo believes the CPI report could be a good test to see if dollar sentiment has dropped dramatically.
EURAgainst the greenback, it fell 0.58% to $ 1.0015,JPYDown by 0.48% against the dollar at 146.34 JPY, both of which halted the rally for three consecutive trading days. Even with the dollar rising against the major currencies, some analysts believe the outlook for the greenback is even less optimistic.
Shaun Osborne, Scotiabank’s chief foreign exchange strategist, said: “Although the dollar has strengthened today, the overall trend is still weak and we believe the dollar bullish cycle is maturing with further weakness in sight.”
GBPIt tumbled 1.6% to $ 1.1354 against the dollar, also pausing for three consecutive gains. UK Chancellor of the Exchequer Jeremy Hunt will issue a tax return on November 17 and investors are on the verge of a tightrope over signs that government spending could be cut and tax revenues could rise.
In addition to risk aversion ahead of the inflation report,cryptocurrencyThe tragic market situation has also brought support to the dollar.
Following the statement yesterday that it intends to acquire some assets of FTX, the largest in the worldcryptocurrencyExchange Binance changed its attitude today (9th). After reviewing FTX’s financial situation, the company found that FTX’s funding problems were beyond its means and decided to abandon the acquisition plan.
bitcoinExtending yesterday’s losses, it fell 15% to $ 15,671, the lowest level since November 2020.etherIt also fell around 17% to $ 1,104cryptocurrencyThe FTX token issued by the FTX exchange plunged 57% to around $ 2.3.
Starting Thursday (10) Taiwan time around 6:00 am Price:
- US dollar indexReported at 110.4293. + 0.7232%
- EURExchange rate against the US dollar (EUR / USD) at 1 EURAgainst $ 1.0013. -0.5858%
- GBPExchange rate against the US dollar (GBP / USD) at 1 GBPAgainst 1.1355 yuan. -1.6372%
- AUDExchange rate against the US dollar (AUD / USD) at 1 AUDAgainst 0.6430 yuan. -1.1682%
- dollar againstCanadian dollars (USD / CAD) exchange rate at 1.3525 per US dollar Canadian dollars。 + 0.7374%
- dollar againstJPY (USD / JPY) exchange rate at USD 146.39 JPY。 + 0.5012%
