Loading…
EUR/USD jumped to two-month highs after U.S. October CPI came in softer than expected, with headline inflation at 7.7% year on year versus an 8% forecast. Core CPI printed 6.3% against 6.5% expected.
The DXY fell about 1.3% as Treasury yields retreated and markets raised odds of a 50 bp Fed hike in December.
A weaker dollar and lower expected Fed tightening tend to support dollar-priced commodities and firm grain and oilseed export prices. Feed buyers may see modest relief on imported ingredient costs.
investing.comAlex BoltyanNov 10, 2022After 47 past bearish report events, US Dollar (Broad) moved a median -0.2% over 5 sessions (34% higher; middle half -0.8% to +0.2%), and -0.7% over 20.
After 20 past bullish report events, Euro (USD per EUR) moved a median +0.7% over 5 sessions (70% higher; middle half -0.0% to +1.6%), and +1.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Softer-than-expected U.S. October CPI on Nov 10 cut Treasury yields and Fed tightening expectations, sending the dollar sharply lower and EUR/USD to two-month highs, the main driver of the 5-day move.
EUR/USD surged after softer CPI and DXY fell as Treasury yields retreated and Fed hike odds eased.
