The dollar index (DXY00) today is down by -0.35%. The dollar is sliding after today’s weaker-than-expected US economic news on Sep retail sales and Sep core PPI bolstered the chances for a Fed rate cut at next month’s FOMC meeting. Also, falling bond yields have weakened the dollar’s interest rate differentials after the 10-year T-note yield fell to a 3.5-week low today at 4.002%. The dollar extended its losses after the Conference Board US Nov consumer confidence index fell more than expected to a 7-month low.
US Sep retail sales rose +0.2% m/m, weaker than expectations of +0.4% m/m. Sep retail sales ex-autos rose +0.3% m/m, right on expectations.
