# [New York FX Weekly] Despite Sharp Drop in US Tech Stocks, Is a December Rate Hike Still on the Table? CPI in Focus

> The weekly outlook said New York currency markets would focus on whether the technology-stock correction continues and on the US October CPI release as investors assess the likelihood of a December Federal Reserve rate hike. The dollar rose for a second consecutive week, supported late in the week by stronger-than-expected US employment data; the report also noted declines in the euro and pound against the dollar and a rise in the offshore dollar-yuan rate.

- Date: 2026-11-08 · published 2026-11-09T00:10:20.904Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/88238-new-york-fx-weekly-despite-sharp-drop-in-us-tech-stocks-is-a-december-rate-hike
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger dollar can increase the cost of dollar-priced feed imports, while currency moves also affect exporters’ competitiveness. The outlook highlights upcoming inflation data and rate expectations rather than a new agricultural-market driver.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼
- GBPUSD: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-10-29 | [Stocks fall, US dollar strengthens after Powell puts chill on December rate cut \| Reuters](https://feedsoft.ai/events/22612-stocks-fall-us-dollar-strengthens-after-powell-puts-chill-on-december-rate-cut.md) | +1.0% | +0.5% |
| DXY | 2016-11-02 | [The Federal Reserve looks ready to roll with an interest rate hike in December](https://feedsoft.ai/events/73752-the-federal-reserve-looks-ready-to-roll-with-an-interest-rate-hike-in-december.md) | -0.6% | +3.2% |
| DXY | 2018-09-24 | [Canadian borrowers will feel this week's U.S. interest rate hike: Don Pittis \| CBC News](https://feedsoft.ai/events/63276-canadian-borrowers-will-feel-this-week-s-u-s-interest-rate-hike-don-pittis-cbc.md) | +0.3% | +1.5% |
| DXY | 2021-02-26 | [EUR/USD set to end the week on a sour note, drops sharply back below 1.2100 - Forex Crunch](https://feedsoft.ai/events/9591-eur-usd-set-to-end-the-week-on-a-sour-note-drops-sharply-back-below-1-2100.md) | +0.7% | +1.9% |
| DXY | 2018-02-27 | [South Korea: Stocks wobble, won slides on Fed rate hike worries - The Business Times](https://feedsoft.ai/events/66719-south-korea-stocks-wobble-won-slides-on-fed-rate-hike-worries-the-business-times.md) | +0.1% | -0.1% |
| EURUSD | 2021-02-26 | [EUR/USD set to end the week on a sour note, drops sharply back below 1.2100 - Forex Crunch](https://feedsoft.ai/events/9591-eur-usd-set-to-end-the-week-on-a-sour-note-drops-sharply-back-below-1-2100.md) | -1.5% | -3.7% |
| EURUSD | 2026-06-19 | [The Euro sinks on its own rate hike](https://feedsoft.ai/events/11515-the-euro-sinks-on-its-own-rate-hike.md) | -0.6% | -0.5% |
| EURUSD | 2023-09-08 | [Why the US Fed's interest rate pause is a win for dollar bulls \| The National](https://feedsoft.ai/events/34010-why-the-us-fed-s-interest-rate-pause-is-a-win-for-dollar-bulls-the-national.md) | -0.4% | -1.7% |

## Sources

- kbthink.com: https://kbthink.com/news-list/view.html?newsId=20261108154920671

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.