"The dollar held broadly stable on Wednesday, pausing after yesterday's decline. The latter was triggered by weaker-than-expected US retail sales and a further deterioration in labour-market signals. Treasury yields were also steady after a pullback, with the 10-year hovering near the 4% mark, its lowest level in a month. Additional declines could weigh on the currency. Tuesday's data painted a picture of a cooling economy."
"Producer prices rose 0.3% in September, matching expectations, but the details showed that the rebound was driven largely by volatile energy components. By contrast, retail sales disappointed, rising only 0.2% versus the 0.4% expected. Labor-market indicators also weakened meaningfully. The ADP Employment Change Weekly measure showed private employers cut an average of 13,500 jobs per week in the four weeks ending November 8. Consumer confidence fell more than forecast as well, reinforcing the narrative that household sentiment is deteriorating,"
The dollar held broadly stable after a prior decline driven by weaker-than-expected retail sales and worsening labour-market signals. Treasury yields were steady after a pullback, with the 10-year near 4%, its lowest in a month, and further declines could pressure the currency. Producer prices rose 0.3% in September, largely due to volatile energy components, while retail sales rose only 0.2% versus 0.4% expected. Labor-market indicators weakened, with the ADP weekly measure showing private employers cut an average of 13,500 jobs per week over the four weeks ending November 8. Consumer confidence fell more than forecast, and markets assign an 85% probability to a December rate cut as investors await initial jobless claims expected at 225,000.
Read at London Business News | Londonlovesbusiness.com
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