Negative
25Serious
Neutral
Optimistic
Positive
- Total News Sources
- 1
- Left
- 1
- Center
- 0
- Right
- 0
- Unrated
- 0
- Last Updated
- 2 days ago
- Bias Distribution
- 100% Left
US Dollar Slips After August Inflation Steady and Consumer Sentiment Weakens
The U.S. dollar weakened last week following the release of August inflation data, which showed the core PCE price index matching forecasts at 2.9% year-on-year, easing expectations for aggressive Federal Reserve rate hikes. Despite the dollar's pullback, it remained stronger over the week due to resilient U.S. economic data and ongoing speculation about the Fed's monetary policy. The University of Michigan's consumer sentiment index fell unexpectedly to a four-month low, adding downward pressure on the dollar. In contrast, personal spending and income data showed strength, supporting the currency alongside hawkish comments from Richmond Fed President Tom Barkin. The euro and pound gained modestly against the dollar, supported by the weaker greenback and geopolitical factors, while other currencies like the Canadian, Australian, and New Zealand dollars saw varied movements influenced by domestic data and risk sentiment. Overall, markets are pricing in a high probability of a rate cut at the Fed's upcoming October meeting, reflecting a cautious economic outlook.

- Total News Sources
- 1
- Left
- 1
- Center
- 0
- Right
- 0
- Unrated
- 0
- Last Updated
- 2 days ago
- Bias Distribution
- 100% Left
Negative
25Serious
Neutral
Optimistic
Positive
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