13/11/2024 Daily Reports
The U.S. dollar sits close to a 6.5-month peak, benefiting from Trump’s win and investor expectations for his inflationary policies, including trade tariffs and tax cuts. Treasury yields are rising as a December Fed rate cut becomes less certain, with odds now at 60%. Meanwhile, Bitcoin remains strong, just below its recent record, amid Trump’s pledge to make the U.S. the “crypto capital.” Investors await key inflation data (CPI) later today, which could impact market expectations for the Fed’s next moves. Additionally, the euro and yen face continued pressure, with Trump’s policies and political uncertainties in Europe adding to market volatility.
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Dollar Rockets Toward New Heights as Trump Trade Gains Momentum
The U.S. dollar is soaring near a 6.5-month peak, driven by market excitement over Trump’s anticipated pro-inflation policies, including tax cuts and tariffs, which could reshape the Fed’s rate plans. Investors are stacking up on the greenback, betting on a high-spending, pro-growth agenda as Trump’s Republicans are projected to secure Congress. With key U.S. inflation data on the horizon, the dollar index is holding firm around 106.01—its strongest since early May. Bitcoin, meanwhile, lingers just below record highs, as anticipation builds across markets.
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