Scrap #1 Copper 96-98% Idx Futures Market News and Commentary
The dollar index (DXY00) on Friday fell by -0.01%. The dollar was under pressure Friday on dovish comments from Atlanta Fed President Bostic, who said if the outlook unfolds as he expects, “it will be appropriate to cut interest rates this year.“ Friday’s weaker-than-expected report on US Apr leading indicators was also bearish for the dollar.
Losses in the dollar were limited Friday due to higher T-note yield and hawkish comments from Fed Governor Bowman, who said she expects inflation to remain elevated “for some time.”
US Apr leading indicators fell -0.6% m/m, weaker than expectations of -0.3% m/m and the biggest decline in 6 months.
Fed Governor Bowman said, "With average core CPI this year through April running at an annualized rate of 4.3%, well above average inflation in the second half of last year, I expect inflation to remain elevated for some time."
Thursday evening, Atlanta Fed President Bostic said if the outlook unfolds as he expects, referri... Read more