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The University of Michigan was expected to report no real change in consumer confidence: 95 points in the preliminary read for October after 95.1 in September. The Conditions component carried expectations for 111.3 after 111.7 and the Expectations number for 84.7 after 84.4 points. The US dollar was on the back foot, after the big [...]
The post US consumer confidence beats with 101.1 appeared first on Forex Crunch.
Disappointing US inflation figures: CPI and core CPI both miss expectations and monthly and yearly figures. Core CPI y/y failed to rise and remains stuck at 1.7%. Will the Fed reconsider the planned December hike? We wrote that weak inflation could hit the dollar and indeed: the US dollar is falling across the board. more [...]
The post US core inflation stuck at 1.7% again – USD falls appeared first on Forex Crunch.
The European Central Bank convenes on October 26th and they had promised us some kind of news on the future of the bond-buying program. The ECB currently buys 60€ billion worth of government and corporate bonds a month and this program is set to run until the end of the year. In 2018, Draghi and [...]
The post ECB QE tapering: somewhere between 25 to 40 billion, for 9 months appeared first on Forex Crunch.
Markets are pricing in a rate hike by the Fed in their last meeting of the year in December. This is in line with the dot-plot published in September and also Yellen’s insistence to hike despite the frustratingly low inflation. Ahead of the highly anticipated inflation report later today, we heard from two Fed officials. [...]
The post Mixed messages from the Fed on the December hike appeared first on Forex Crunch.