# The Dollar Holds Steady Amid Economic Data
## The U.S. Dollar’s Performance
– The U.S. dollar showed stability against major currencies on Friday.
– Economic data supported the Federal Reserve’s current monetary policy path.
– A gauge of U.S. producer prices remained unchanged in September.
– This data suggests that the Fed is likely to cut rates again next month.
## Key Economic Indicators
– Consumer prices rose by 0.3% in September, slightly higher than expected.
– Weekly jobless claims surged, indicating labor-market weakness.
– The weekly jobless claims data was affected by Hurricane Helene, with Hurricane Milton expected to impact next week’s data.
## Currency Performance
– The euro remained flat at $1.1093.
– The pound saw a slight increase of 0.08% at $1.3072.
– The dollar strengthened by 0.35% against the Japanese yen at 149.12.
## Market Expectations
– Traders are anticipating a 25-basis-point cut at the Fed’s next meeting.
– There is a 91% chance of a rate cut and a 9% probability of no cut, according to the CME’s Fedwatch tool.
## Global Economic Updates
– Britain’s economy grew in August after two months of stagnation.
– France announced a 2025 budget with spending cuts and tax hikes to tackle a fiscal deficit.
– China’s finance ministry is expected to hold a news conference on fiscal policy.
## Cryptocurrency Trends
– Bitcoin gained 5.38% to $62,930.00.
– Ethereum rose by 3.8% to $2,456.70.
## Expert Insights
– The market sentiment is in favor of the narrative that the Fed will cut rates.
– Data have been encouraging, supporting the view that the Fed is likely to lower rates.
## Currency Bid Prices
– Detailed currency bid prices as of 11 October 07:51 p.m. GMT.
### Analysis:
The article highlights the current status of the U.S. dollar against major currencies, providing insights into key economic indicators and market expectations. It also covers global economic updates and cryptocurrency trends. The detailed currency bid prices offer a comprehensive view of the currency market. Overall, the content is informative and essential for individuals seeking to understand the impact of economic data on currency performance and market trends.