The dollar rose before the US CPI data was released, technical analysis of EUR/USD, USD/JPY, and GBP/USD

This article will analyze the technical prospects of the three US dollar currency pairs EUR/USD, USD/JPY, and GBP/USD.

FX678 Finance12:54 ET

Consumer confidence in Michigan in the US unexpectedly plummeted in May, and short-term inflation expectations soared

Consumer confidence at the University of Michigan in the US in May unexpectedly fell far short of expectations. It fell sharply from April, and fell sharply from April. The monthly decline was the biggest since August 2021. Consumer expectations for short-term inflation have risen sharply, and so have long-term inflation expectations. Confidence has plummeted as people worry about inflation and the job market.

wallstreetcnMay 10 10:02 ET

I am convinced that the Federal Reserve will cut interest rates this year, and this investment company is betting heavily on the residential mortgage market

The Zhitong Finance App learned that an investment company that deals in assets, mortgage-backed securities, and corporate debt is betting heavily on the residential mortgage market, where prices have dropped sharply, because the company expects the Federal Reserve to start cutting interest rates later this year. Scott Burg, chief investment officer of Deer Park Road Management Co. said in an interview that the Steamboat Springs, Colorado-based money management company has raised $170 million for its first mortgage opportunity fund. According to information, the company was in 2008

Zhitong FinanceMay 10 09:30 ET

Forex Today: Steadily Cooling US Labor Market Keep US Dollar on Edge

The US Dollar (USD) recovers modestly during the Asian session on Friday. However, the near-term appeal is still uncertain as higher-than-projected Initial Jobless Claims (IJC) for the week ending May 3 indicated that the United States (US) labor market is struggling to bear the burden of Federal Reserve’s (Fed) restrictive policy framework.

FXStreetMay 10 02:02 ET

Experts say the surge in the US money supply means the Federal Reserve will not cut interest rates in 2024!

Bert Dohmen, an analyst at Dohmen Capital Research, said that the recent sharp increase in the supply of M2 money in the US means that the Federal Reserve will not be able to deliver on expected interest rate cuts this year. He also believes that all discussions about how many times the Federal Reserve may cut interest rates this year are meaningless.

FX678 FinanceMay 9 20:55 ET

Federal Reserve Daly: Restrictive interest rates need more time to work

The Zhitong Finance App learned that San Francisco Federal Reserve Chairman Daly said that interest rates are currently holding back the economy, but it may take more time for inflation to return to the Federal Reserve's target level. “We have taken restrictive measures, but it may take more time to reduce inflation,” Daly said in a discussion on Thursday. This statement echoes Federal Reserve Chairman Powell's speech on April 16. Daly said that recent data showed that price pressure picked up at the beginning of this year, which highlights the reason why policymakers cannot declare victory in the fight against inflation until they are convinced that inflation is under control. She said, “For the next few months

Zhitong FinanceMay 9 19:48 ET