{"id":492305,"date":"2026-06-10T10:53:09","date_gmt":"2026-06-10T10:53:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/492305\/"},"modified":"2026-06-10T10:53:09","modified_gmt":"2026-06-10T10:53:09","slug":"us-dollar-core-cpi-focus-keeps-dxy-supported-ing","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/492305\/","title":{"rendered":"US Dollar: Core CPI focus keeps DXY supported \u2013 ING"},"content":{"rendered":"<p>ING\u2019s Chris Turner notes the Dollar is holding recent gains as markets await the US May <a href=\"https:\/\/www.fxstreet.com\/news\/us-cpi-data-set-to-show-inflation-at-three-year-high-in-may-backing-fed-hawkish-tilt-202606100400\" data-fxs-autoanchor=\"\" rel=\"nofollow noopener\" target=\"_blank\">CPI<\/a> report, with expectations that firm core inflation will keep Federal Reserve hike pricing alive into December. Rising US real rates have unwound last year\u2019s Dollar debasement trade, pressuring <a href=\"https:\/\/www.fxstreet.com\/brokers\/best-brokers-to-trade-gold\" data-fxs-autoanchor=\"\" rel=\"nofollow noopener\" target=\"_blank\">Gold<\/a>, Bitcoin and the Swiss Franc, while ING projects DXY drifting toward the 100.40\/50 area.<\/p>\n<p>Fed reaction to inflation shock underpins Dollar<\/p>\n<p>&#8220;The dollar is largely holding onto its gains made last week. Equity markets remain very volatile as investors shuffle portfolios ahead of Friday&#8217;s SpaceX IPO. Oracle is due to report earnings after the close today to provide the latest insight into the AI data centre buildout and its revenue opportunities.&#8221;<\/p>\n<p>&#8220;The highlight will be the release of the May CPI report, where headline inflation is expected to rise above the 4.0% YoY level for the first time since May 2023 and core CPI is expected to rise 0.3% month-on-month and 2.9% (2.8% prior) YoY. Assuming those levels are delivered, expect the market to continue pricing a Fed hike in December and the dollar to stay supported.&#8221;<\/p>\n<p>&#8220;Thus, a 0.2% instead of a 0.3% could be the risk on core CPI month-on-month today, which could see short-dated <a href=\"https:\/\/www.fxstreet.com\/rates-charts\/rates\" data-fxs-autoanchor=\"\" rel=\"nofollow noopener\" target=\"_blank\">rates<\/a> edge a little lower and the dollar soften. But a hot PPI print tomorrow and next week&#8217;s FOMC should keep the dollar bid on dips.&#8221;<\/p>\n<p>&#8220;Keep an eye on key support levels in gold and bitcoin, such as $4100\/oz and $60,000 for signs of more money leaving that trade and more money entering the dollar. And a higher USD\/CHF looks to be a key vehicle in this debasement retreat.&#8221;<\/p>\n<p>&#8220;With continued upside risks to energy prices, we expect to see DXY remaining bid on dips. Any soft core CPI reading could see DXY test the 99.50\/60 area, but the direction of travel looks to be the 100.40\/50 area into next week.&#8221;<\/p>\n<p>(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)<\/p>\n","protected":false},"excerpt":{"rendered":"ING\u2019s Chris Turner notes the Dollar is holding recent gains as markets await the US May CPI report,&hellip;\n","protected":false},"author":2,"featured_media":492306,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-492305","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/492305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=492305"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/492305\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/492306"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=492305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=492305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=492305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}