Sticky US CPI data and hawkish comments from Fed officials lent extra support to the Greenback on Thursday prior to the release of further inflation metrics at the end of the week.
Here is what you need to know on Friday, October 11: The US Dollar Index rose past the 103.00 barrier to reach new two-month highs as market participants adjusted to rising bets of a 25 bps rate cut in November. The US inflation will remain at the centre of the debate with the release of Producer Prices seconded by the preliminary Michigan Consumer Sentiment and speeches by the Fed’s Goolsbee and Bowman. The downside pressure in EUR/USD gathered extra pace, briefly sending the pair to the sub-1.
Interesting day on the UK docket with the releases of GDP figures, Goods Trade Balance, Industrial Production, Manufacturing Production, Construction Output, and the NIESR Monthly GDP Tracker. USD/JPY partially faded Wednesday’s marked advance soon after hitting new highs around 149.50. Next on tap on the Japanese docket will be the Industrial Production figures on October 15. AUD/USD outperformed its risky peers and advanced modestly after five consecutive daily pullbacks.
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