October 21, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas releases market commentary from Cho Financial Markets Strategist Consultant to Exness.
The U.S. dollar remained strong, supported by strong economic indicators and growing anticipation for the upcoming U.S. presidential election. Recent reports show that retail sales have grown more than expected, indicating solid consumer confidence which helped ease recession fears. With persistent inflation and a resilient job market, the Federal Reserve may take a more cautious approach to interest rate cuts, making the greenback more attractive.
Speculation about Donald Trump’s potential return to the Oval Office could further contribute to the dollar’s upside potential. Traders anticipate that fiscal and trade policies could increase inflationary pressures, prompting the Federal Reserve to keep interest rates high. As a result, yields on U.S. Treasury bills have risen across various maturities. Looking ahead, market participants are keeping a close watch on upcoming speeches from Fed officials and the release of PMI data. While the manufacturing sector is expected to remain in contraction, any signs of recovery could contribute to investor sentiment, further benefiting the dollar.
Disclaimer
Global Investor Ideas is part of the Investorideas.com content umbrella and is owned by Econ Corporate Services Inc. For Investorideas disclosure and disclaimer please visit the site directly
Disclaimer/Disclosure: GlobalInvestorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by GlobalInvestorideas and investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. If we are not the source for content but just a publisher , please contact the source of all content for questions and info. We are not responsible for third party content.