27 Nov 2023

USD weakens driven by weak economic data

As per latest published US FOMC minutes, further rate hike is unlikely in coming days. In addition to it, US business activity has been flat. Driven by all these factors, USD has fallen further as compared to previous wee.

author dp
Team INRBonds
Share via:LinkedIn LogoTwitter logo

       The USD ended the week lower due to weak economic data and indication of no further rate hike by the US FOMC. The Dollar index came down to 103.42 at the end of last week.

       US initial jobless claims fell by 24,000 to 209,000 in the week ending November 18th, dropping sharply from the three-month high in the previous week and well below market expectations of 225,000.

       Japan annual inflation rate rose to 3.3% in October 2023 from 3.0% in the prior month

       US crude oil inventories rose by 8.701 million barrels in the week ending November 17, 2023, following a 3.592 million build in the previous period.

       Eurozone construction output declined by 0.3% year-on-year in September 2023.

 

We would love to hear back from you. Please Click here to share your valuable feedback