Scrap 6063 Aluminum Extru. Idx Futures Market News and Commentary
The dollar index (DXY00) Friday rose by +0.49%. The dollar rallied Friday as political uncertainty in Germany weighs on the euro after German Chancellor Scholz called for a snap election in January. The dollar extended its gains Friday after the University of Michigan US Nov consumer sentiment index rose more than expected to a 7-month high. Lower T-note yields on Friday and strength in stocks limited the upside in the dollar.Â
The University of Michigan US Nov consumer sentiment index rose +2.5 to a 7-month high of 73.0, stronger than expectations of 71.0.
The University of Michigan US Nov inflation expectations report was mixed. The Nov 1-year inflation expectations eased to a 3-3/4 year low of 2.6% from 2.7% in Oct, better than expectations of no change at 2.7%. However, the Nov 5-10 year inflation expectations rose to 3.1% from 3.0% in Oct, stronger than expectations of no change at 3.0%.
The markets are discounting the chances at 65% for a -25 bp rate cut a... Read more