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- 12:48The US Dollar Index drops sharply to 97.6; AUD and NZD extend gains against the US dollar.According to ChainCatcher, citing Golden Ten Data, the US Dollar Index (DXY) dropped 26 points in the short term, reaching a low of 97.6. The Australian dollar against the US dollar (AUD/USD) expanded its intraday gain to 0.5%, now quoted at 0.6622; the New Zealand dollar against the US dollar (NZD/USD) also expanded its intraday gain to 0.5%, now quoted at 0.5955.
- 12:48Short-term US interest rate futures rise as traders increase bets on rate cutsAccording to ChainCatcher, citing a report from Golden Ten Data, short-term US interest rate futures rose after the release of the PPI data, with traders increasing their bets on a Federal Reserve rate cut.
- 12:48Analyst: If CPI data is also weaker than expected, the probability of a 50 basis point rate cut by the Federal Reserve will increase.According to ChainCatcher, citing Golden Ten Data, analyst Adam Button stated that the Consumer Price Index (CPI) report will be released tomorrow, which could be a strong signal indicating that the data may come in below expectations. U.S. stock index futures have already risen as a result. If the CPI result is lower than expected, especially if it is significantly below expectations, the likelihood of the Federal Reserve cutting interest rates by 50 basis points will increase. The month-on-month decline in the Producer Price Index (PPI), excluding food and energy, has reached its largest drop in the past 10 years.