US October CPI Release Boosts Dollar, Fuels 80% Chance of December Rate Hike
According to FXStreet, the U. S. Bureau of Labor Statistics released October CPI data on 6 November, and markets priced an about 80% probability of a 25-basis-point Federal Reserve rate hike in December. Reuters reported that the dollar held steady as traders awaited the inflation data. BigGo Finance noted that the euro stayed near $1. 12 in New York while the dollar-yen hovered around 158 yen, influenced by reports of Iranian concessions and shifting U. S. long-term yields.
Action Forex said a robust U. S. jobs report and falling unemployment boosted the dollar, pushing the EUR/USD pair lower. Ing think observed that the dollar gained after a tech-driven equity decline, with analysts watching the upcoming CPI and AI-related policy risks. BigGo Finance also reported that the euro fell to its lowest level since late October after U. S. employment figures exceeded expectations. The Business Times added that the euro slipped modestly as oil rose, with markets weighing Iran conflict risks and the impending Democratic control of Congress.
