{"id":94949,"date":"2024-11-15T11:33:07","date_gmt":"2024-11-15T09:33:07","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=94949"},"modified":"2024-11-15T11:33:30","modified_gmt":"2024-11-15T09:33:30","slug":"keeping-an-eye-out-for-the-us-data","status":"publish","type":"post","link":"https:\/\/www.smartchinaeducation.com\/ms\/keeping-an-eye-out-for-the-us-data\/","title":{"rendered":"Keeping an eye out for the US data"},"content":{"rendered":"

The USD got renewed support against its counterparts yesterday, while US stock markets and gold ended another day in the reds. The main reason behind the strengthening of the USD yesterday may have been the speech of Fed Chairman Powell, as he highlighted that the bank is in no hurry to cut rates. The Fed\u2019s cautiousness towards cutting rates is understandable given that October inflation data showed a persistence of inflationary pressures in the US economy, while on a fiscal level, the Trump economic policies and intentions of imposing trade tariffs, tightening immigration and deepening the deficit hence also raising national debt possibly, may rejuvenate inflationary pressures in the US economy. It should be noted that the market\u2019s expectations for the bank to cut rates eased since yesterday, hence we may see the USD being supported on a monetary level. Today we highlight the release of the US retail sales growth rate for October and the rate is expected to slow down implying an easing of the demand side of the US economy, while the industrial output growth rate also for the past month is expected to remain unchanged in the negatives, implying another contraction of economic activity in the supply side of the US economy. Hence the forecasts for both releases tend to place attention on the bearish side for the USD.<\/p>\n\n\n\n

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