{"id":56128,"date":"2023-02-17T11:05:56","date_gmt":"2023-02-17T09:05:56","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=56128"},"modified":"2025-12-02T14:46:59","modified_gmt":"2025-12-02T12:46:59","slug":"usd-on-the-rise-on-hawkish-fed","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/pt\/usd-on-the-rise-on-hawkish-fed\/","title":{"rendered":"USD on the rise on hawkish Fed\u00a0"},"content":{"rendered":"

The USD was on the rise across the board yesterday, as market expectations for a hawkish Fed were maintained and at the same time resilient inflation data underscored such a scenario. We make a start though with the number of house starts and building permits, both for January, which tended to drop implying a contraction of economic activity in the US construction sector. In the employment market, the weekly initial jobless claims figure dropped instead of rising implying that the tightness of the US employment market is still present. On the flip side, the Philly Fed Business index dropped heavily into the negatives, implying a contraction of economic activity in the wider Philly area. As for inflation, we must note that the PPI rate accelerated beyond expectations for January on a month-on-month basis, highlighting that inflationary pressures are still present in the US economy. On the monetary front, we note that a number of Fed officials such as Cleveland Fed President Mester and St. Louis Fed President Bullard maintained their hawkish tone which intensified market expectations for more rate hikes. North of the US border we note that the CAD weakened against the USD, worried possibly for the Fed\u2019s intentions and widening monetary policy outlook deviations with BoC, but also the drop of oil prices for a fifth consecutive day pushed the Loonie lower.<\/p>\n\n\n\n

\n