By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Today’s Forex Market: US CPI Data Dampens Expectations of a 50 Basis Point Rate Cut by the Fed
Share
Notification Show More
Latest News
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > Today’s Forex Market: US CPI Data Dampens Expectations of a 50 Basis Point Rate Cut by the Fed
Forex

Today’s Forex Market: US CPI Data Dampens Expectations of a 50 Basis Point Rate Cut by the Fed

News Room
Last updated: 2024/09/11 at 9:04 PM
News Room
Share
3 Min Read
SHARE

On Thursday, September 12, financial markets experienced a shift towards risk-averse behavior following the release of the August Consumer Price Index (CPI) in the United States. The annual CPI rose 2.5% year-on-year, slightly lower than the previous 2.9%, with the core annual figure remaining steady at 3.2%. However, the monthly core increase exceeded expectations at 0.3%. Despite these figures being in line with forecasts, investors reacted by moving towards safety, leading to a sharp decline in stock markets, particularly in the US.

The reaction in the financial markets was fueled by doubts regarding a potential 50 basis points rate cut by the Federal Reserve at its upcoming meeting. With a 25 basis points cut already priced in, investors are now anticipating a gradual easing of monetary policy by policymakers. The US Treasury yields hit fresh 52-week lows before bouncing slightly after the CPI release, highlighting lingering concerns about a potential recession.

Currency pairs also experienced fluctuations in response to the market dynamics. The EUR/USD pair hovered around 1.1020, while GBP/USD saw a rebound from 1.3000 to around 1.3050. Commodity-linked currencies, such as the AUD/USD and USD/CAD, benefited from the stocks’ bounce, with the former reaching intraday highs and the latter trading at daily lows.

The USD/JPY pair initially fell to 140.70, hitting a fresh low for 2024, before recovering later in the day to stand above the 142.00 mark. Similarly, the Swiss Franc weakened against the US Dollar, with the USD/CHF pair around 0.8500 by the end of the day. Gold prices fluctuated during the risk aversion period, briefly touching $2,500 before settling around $2,515.

Looking ahead, Thursday’s macroeconomic calendar includes key releases such as Australian September Consumer Inflation Expectations, the US Producer Price Index (PPI), and the European Central Bank (ECB) monetary policy decision. The ECB is expected to announce a 25 basis points cut to the three main interest rates, which could further impact market sentiment and currency movements. Traders should remain vigilant and monitor these developments closely for potential trading opportunities.

In conclusion, Thursday’s market activity reflects the cautious stance of investors in response to the US CPI data and uncertainty surrounding the Fed’s rate cut decision. The broader economic landscape remains uncertain, with concerns about a possible recession still lingering. Traders should stay informed and adapt their strategies accordingly to navigate the evolving market conditions.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room September 11, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Tyler Winklevoss Criticizes Elizabeth Warren’s Email Campaign
Next Article Saudi Arabia urges international cooperation to tackle environmental challenges
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World June 28, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?