The dollar index (DXY00) today is down by -0.07%. The dollar today is under pressure after the University of Michigan US Oct consumer sentiment index unexpectedly declined. Also, today’s US Sep PPI report showed producer prices eased to 1.8% y/y, below the Fed’s 2.0% price target, bolstering expectations for a 25 bp interest rate cut at next month’s FOMC meeting.
US Sep PPI final demand eased to +1.8% y/y from +1.9% y/y in Aug, stronger than expectations of +1.6% y/y. Also, Sep PPI ex-food and energy rose +2.8% y/y, stronger than expectations of +2.6% y/y.
