The key question for operators and investors is whether inflation has peakedwhich would give the authorities more leeway to apply minor interest rate hikes in the coming months.
The US monthly consumer inflation will also be released next weekone day before the Fed’s policy meeting on December 14, and could be instrumental in setting long-term monetary policy expectations.
The dollar remains stable against other major currencies and the dollar index climbs 0.2% to 105,315. The euro is trading flat against the greenback at $1.0497, while the libra It was down 0.3% at $1.2163.
The yensensitive to changes in US Treasury yields, rose 0.2% to 136.90 per dollar.
The green ticket, which has lost 6.2% so far this quarterse heading towards its worst quarterly result from the July-September 2010 period, when it fell 8.5%, and toward its worst fourth-quarter result since 2004, according to Refinitiv data.
The money markets show that there is a 91% chance the Federal Open Market Committee will raise rates a half point next weekand only one 9% chance of another 75 basis point hike. Las rates will reach a maximum slightly lower than 5% in May.
The next Fed policy meetingwhere the trend to follow regarding the rates will be communicated, will be on December 13 and 14.
The dollar rises 0.1% to 6.9670 yuanin overseas operations, recovering some of the 0.34% drop recorded on Wednesday, when the Chinese government announced the relaxation of some of the COVID-19 measures that have severely hampered the economy.