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Dollar Slightly Higher Before Friday's US CPI Report
Yahoo Financeยท 2025-10-23 19:33
Group 1: Dollar Index and Economic Indicators - The dollar index (DXY00) rose by +0.04% as it anticipates the US CPI report for September, supported by a rise in existing US home sales to a 7-month high [1] - Existing home sales in the US increased by +1.5% month-over-month to 4.06 million, aligning with market expectations [3] - The markets are pricing in a 99% chance of a -25 basis point rate cut at the next FOMC meeting on October 28-29 [3] Group 2: Euro and Economic Conditions - The EUR/USD rose by +0.06% as the euro recovered from overnight losses, supported by an unexpected rise in the Eurozone October consumer confidence indicator to an 8-month high [4] - The Eurozone October consumer confidence indicator increased by +0.7 to -14.2, surpassing expectations of a decline to -15.0 [5] - Swaps are pricing in a 1% chance of a -25 basis point rate cut by the ECB at the October 30 policy meeting [5] Group 3: Yen and Japanese Monetary Policy - The USD/JPY rose by +0.37% as the yen fell to a 1.5-week low due to concerns that new Japanese Prime Minister Takaichi may advocate a less hawkish monetary policy [6] - Higher T-note yields negatively impacted the yen, contributing to its decline [6]