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Barchart
Barchart
Rich Asplund

UNCOVERED: Dollar slumps and gold rallies on fed rate cut hopes - The Untold Story

The dollar index (DXY00) today is down by -0.26% and dropped to a 5-week low. Today’s US economic reports were dovish for the Fed and weighed on the dollar.  Today’s rally in the S&P 500 to a record high also curbed liquidity demand for the dollar. 

US Apr CPI eased to +3.4% y/y from +3.5% y/y in March, right on expectations.  Apr CPI ex-food and energy eased to +3.6% y/y from +3.8% y/y in March, right on expectations and the smallest increase in 3 years.

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