Posted 3/14/2024, 3:26:18 PM
Dollar Rises and Stocks Fall As Hotter Inflation Data Tempers Hopes for Fed Pivot
- US Dollar trades higher after better-than-expected PPI data signals inflation is not cooling as fast as hoped, reducing chances of rate cuts in 2023
- Jobless claims declined slightly and retail sales rose moderately in February but fell short of expectations
- Hotter PPI print causes equity markets to roll over, giving up gains
- Fed rate pause still expected at March meeting, but June cut now more uncertain
- Technical analysis shows US Dollar Index breaking above 103, opening path to test 100-day and 200-day moving averages