Analysis: Thursday's CPI data may support the dollar

ChainCatcher news, the dollar has risen ahead of the release of the Federal Reserve's meeting minutes. The Fed cut rates by 50 basis points last month, and the latest meeting minutes may provide clues for the next policy measures.

Chris Turner, an analyst at ING, stated in a report: "In the past few weeks, the market has priced in about 30 basis points of easing from the Fed in 2024, but we also doubt whether investors are in the mood to reprice for an aggressive easing cycle from the Fed right now."

He also mentioned that Thursday's CPI data may show that the core inflation rate in the U.S. for September remains high, which could support the dollar.