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US dollar slides further as equities continue to sizzle

The US dollar is making fresh lows for the week as the stock market sizzles.The S&P 500 is up 1.1% and the Russell 2000 up 2.8% in a broad rally in risk assets after a jobs report that painted a benign picture of the economy. The market is now pricing in 98 bps in US rate cuts next year, up about a quarter-point from the start of the week.The US dollar index is down 1.0% in its worst day since July.That's a notable chart as it falls through support. I'm not a big fan of the dollar index but ther... Read More

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Posted: Nov 3 2023, 16:26

Author Name: forexlive

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