The Dollar Index to ease back towards 102 – DBS

FXStreetOct 10, 2024 9:51 AM

View all comments（0）



The USD’s near-term direction will hinge on US CPI tonight, especially after markets were wrong-footed by strength in non-farm payrolls, DBS’ FX analyst Philip Wee notes.

25bps rate cut would be more appropriate

“Consensus expects inflation to ease to 2.3% y/y, and a downside surprise could see the DXY index easing back towards 102.”

“Fed rate cut expectations have already been trimmed to just two more 25bps cuts for the rest of the year. The September FOMC minutes released overnight indicate that some attendees believe that a 25bps cut would be more appropriate, although only Bowman voted against a 50bps cut.”

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Gold Falls Below $4,400 for First Time in Two Months. Institutions Lower Gold Price Forecasts as Market Expects PCE to Approach 4%

TradingKey - During the Asian trading session on May 28, spot gold briefly fell below $4,400, hitting a low of $4,396.91, its lowest level since March 27. Gold futures also declined, with U.S. gold futures for August delivery dropping to $4,431 on May 27.

Japan and South Korea Stocks Open Lower, SK Hynix Opens Down Over 2%, Nikkei 225 Drops 0.3%

TradingKey - Japanese and South Korean stock markets both opened lower during the Asian session on May 28. South Korea's KOSPI Index opened down 78.27 points, or 0.95%. Yesterday, the index closed at a record high of 8288.7 points, marking its fourth consecutive trading day of gains.

Today’S Market Recap:Dow Hits Fresh Record, Snowflake Jumps over 30% After Hours, U.S. Oil Plunges Nearly 6%

TradingKey - The S&P 500 edged up 0.02% to 7,520.36, while the Nasdaq Composite added 0.07% to 26,674.73, supported by sustained enthusiasm for chip stocks. The Dow Jones Industrial Average rose 0.36% to 50,644.28, closing at a fresh record as investors rotated into blue‑chip names.

Snowflake Shares Surge 35% After Hours. $6 Billion Expansion of Partnership With Amazon AWS, First-Quarter Revenue Jumps 33%

Tradingkey - Snowflake (SNOW) shares surged over 35% in after-hours trading following the announcement of a new partnership with Amazon AWS and its first-quarter earnings results. As of press time, the stock remained up 33% at $233.1. Snowflake reported its fiscal first quarter 2027 results, with revenue reaching $1.39 billion, up 33% year-over-year. Net revenue retention stood at 126%. Furthermore, remaining performance obligations (RPO) were $9.21 billion, up 38% year-over-year; there were 779 customers with trailing 12-month product revenue exceeding $1 million, a 29% year-over-year increase. Snowflake also provided strong guidance, forecasting a second-quarter adjusted operating margin of 12.5% and product revenue between $1.415 billion and $1.42 billion, surpassing market expectations of 11.9% and $1.37 billion, respectively.

If SpaceX and Tesla Truly Merge, Should Investors Celebrate or Exit Early?

Faced with this unprecedented "trillion-level convergence" in business history, should investors join the euphoria or make an early exit?

Featured Tools