Scrap 6063 Aluminum Extru. Idx Futures Market News and Commentary
The dollar index (DXY00) on Monday rose by +0.03%. The dollar on Monday recovered from early losses and posted modest gains after hawkish Fed comments sparked short covering in the dollar. New York Fed President Williams and Richmond Fed President Barkin said they needed to gain confidence that inflation was moving lower before cutting interest rates.Â
The dollar on Monday initially moved lower on some negative carryover from last Friday’s weaker-than-expected US payroll and ISM services reports, which bolstered expectations that the Fed will cut interest rates this year. Monday’s rally in stocks has also reduced liquidity demand for the dollar.
New York Fed President Williams said the Fed will eventually cut interest rates, but policymakers need to see more evidence things are "moving in the direction we want to see on inflation."Â
Richmond Fed President Barkin said the strength of the US labor market offers the Fed time to gain confidence that inflation is movi... Read more