DXY: Dollar index tilts higher as US inflation jumps to 2008 high en


Accuracy is our number one priority. Our editors constantly review content across Invezz, ensuring all information is up-to-date and maintained where necessary. Read more about our fact-checking process >

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >

The US dollar index (DXY) rose slightly after the relatively impressive US consumer price index (CPI) data. The index rose by 0.10% to $90.21.

Everything has gotten pricey in the United States. According to the US statistics agency, the CPI rose by 0.6% in May on a month-on-month basis. This increase was less than the previous increase of 0.8%. On a year-on-year basis, the CPI rose by 5%, an increase from the previous in 4.2%. The YoY was this strong because consumer prices declined sharply at the onset of the pandemic.

Meanwhile, core CPI that excludes oil and food prices, rose by 0.7% in May after rising by 0.9% in April. Subsequently, the core CPI rose by 3.8% in May, higher than the previous increase of 3.0%.

The rising inflation is mostly because the US economy is doing well as many states reopens. Further, commodity prices have risen substantially. For example, in May, gasoline prices in some states rose after the Colonial Pipeline hack. At the same time, the price of most commodities like lumber, palladium, and iron ore have risen strongly.

The US dollar index also reacted to the latest initial jobless claims numbers from the US. According to the Bureau of Labour Statistics (BLS), more than 376k people filed for initial unemployment benefits. This was a smaller increase than the previous week’s increase of 385k. The continuing claims fell from 3.771k in the previous week to 3.499k. 

These numbers show that the US labour force is tightening while inflation is rising. Still, the Fed has insisted that this trend is transitory and that it will leave its policies intact for a while.

The US dollar index is also being affected by the performance of the euro after the European Central Bank decision. The bank also left interest rate and quantitative easing policies intact. The euro is the biggest constitient of the DXY.

The four-hour chart shows that the US dollar index was little changed after the latest US consumer inflation data. It is trading at 90.18, where it has been in the past few sessions. The price is slightly above the ascending blue trendline and the 25-day and 15-day moving average. It is also between the rising channel shown in bl

Invezz does not provide financial advice. Our aim is to simplify information about investing, enabling each user to make educated decisions with their money and to take control of their financial future. We do not take responsibility for individual investment decisions, profits, or losses, and it’s important to remember that 67% of new traders lose money.

Related title:
Dollar Up, but Near Five-Month Low Ahead of US Inflation Data
DXY: Dollar index tilts higher as US inflation jumps to 2008 high
Dollar Up, but Near Five-Month Low Ahead of US Inflation Data By Investing.com
US Dollar Struggles for Direction After Inflation Surges to 13-Year High



United States Dollar,Inflation,Consumer price index,U.S. Dollar Index,Federal Reserve System,United States Dollar, Inflation, Consumer price index, U.S. Dollar Index, Federal Reserve System,,,




Laisser un commentaire, votre avis compte!

[gs-fb-comments] [comment-form]