USD: it all depends on inflation. Forecast as of 10.11.2022
Daily US dollar fundamental forecast
For the last few days, the state of the financial markets has been as if China has abandoned the zero patient strategy, the Republicans have taken over in Congress, and the US inflation rate has slowed down enough to force the Fed to restrict monetary policy less quickly. Two of the three assumptions will most likely not come true. If the growth rate of consumer prices exceeds the forecasts of Bloomberg experts, which happened over six of the last seven cases, the EURUSD rally will not begin.
The three factors listed above are components of improving global risk appetite. The faster China's GDP grows, the easier the situation in the world economy. Investors perceive the political situation in the US as the lesser of two evils. It's better than raising taxes or new damaging rules for business. Finally, the Fed's slower monetary restriction hints at the end of the cycle, which is a growth driver for stocks.
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