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Barchart
Rich Asplund

Dollar Falls and Gold Rallies on Dovish US Economic Reports

United States Gold US Federal Reserve Inflation BOJ ECB eurozone Villeroy de Galhau Interest Rates ECB Governing Council

The dollar index (DXY00) on Wednesday fell by -0.64% and posted a 5-week low.  Wednesday’s US economic reports were dovish for the Fed and weighed on the dollar.  Also, Wednesday’s rally in the S&P 500 to a record high curbed liquidity demand for the dollar. 

US Apr CPI eased to +3.4% y/y from +3.5% y/y in March, right on expectations.  Apr CPI ex-food and energy eased to +3.6% y/y from +3.8% y/y in March, right on expectations and the smallest increase in 3 years.

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