Investing.com | Editor Pollock Mondal
Published Nov 13, 2023 07:15AM ET
The US dollar held its ground today, as investors digested Federal Reserve Chair Jerome Powell’s recent comments on the ongoing rate hikes and their impact on the economy. This stability comes against the backdrop of Moody’s (NYSE:MCO) decision to downgrade the US sovereign credit rating, citing political and governance concerns.
The market is closely watching this week’s economic indicators, with Tuesday’s Consumer Price Index (CPI) and retail sales figures taking center stage. Analysts are projecting a flat month-over-month headline CPI, which could see the year-over-year rate decrease to 3.3%. The core CPI, which excludes volatile food and energy prices, is expected to remain steady at 0.3% month-over-month or 4.1% year-over-year. Soft…