As the market digests a mixed bag of macroeconomic data, on the 10th, the US dollar strengthened against the euro, pound, Canadian dollar, and Swedish krona, while it weakened against the Japanese yen and Swiss franc. The US dollar index fluctuated narrowly in the overnight market, rose in the morning, and fell significantly in the afternoon, with the dollar ending the day slightly higher.
The US dollar index, which measures the dollar against six major currencies, rose by 0.06% for the day, closing at 102.988 in the foreign exchange market.
Data released by the US Department of Labor on the same day showed that the US consumer price index increased by 0.2% month-on-month in September, matching the previous month's increase and higher than the market's expected 0.1%; the year-on-year increase was 2.4%, higher than the market's expected 2.3%, but lower than August's 2.5%.
Data released by the US Department of Labor in the morning also showed that the number of first-time unemployment benefit claimants in the US last week was 258,000, significantly higher than the market's expected 226,000 and the previous week's 225,000.
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Monex USA, a foreign exchange broker, said on the 10th that as traders digest the mixed economic data, the dollar's direction on the day was indecisive. Higher-than-expected inflation and rising unemployment numbers have led to uncertainty about the Federal Reserve's next move.
Looking ahead, Monex USA said that the market will closely monitor the direction of economic data and speeches by Federal Reserve officials this week.
Raphael Bostic, President of the Federal Reserve Bank of Atlanta, said in a media interview on the 10th that he would have no objection to keeping interest rates unchanged at the next interest rate meeting if the data justifies it. He is open to a 25 basis point rate cut or keeping interest rates unchanged.
At the end of the New York foreign exchange market, 1 euro was exchanged for 1.0922 US dollars, lower than the previous trading day's 1.0937 US dollars; 1 pound was exchanged for 1.3047 US dollars, lower than the previous trading day's 1.3065 US dollars.
1 US dollar was exchanged for 148.76 Japanese yen, lower than the previous trading day's 149.36 Japanese yen; 1 US dollar was exchanged for 0.8572 Swiss francs, lower than the previous trading day's 0.8609 Swiss francs; 1 US dollar was exchanged for 1.3759 Canadian dollars, higher than the previous trading day's 1.3710 Canadian dollars; 1 US dollar was exchanged for 10.4084 Swedish kronor, higher than the previous trading day's 10.4004 Swedish kronor.
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