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US Dollar: US data keep support in place – Societe Generale
Societe Generale’s Kit Juckes argues that despite potential future US fiscal tightening and greater AI regulation, current data show a resilient US economy. Core CPI has risen steadily, with headline CPI up 1% over two months, alongside strong payrolls, retail sales and GDP.
Resilient data back US currency
"It is possible, though by no means certain, that US fiscal policy will be tightened as the President and Congress struggle to reach agreement, and it is widely assumed that the AI industry will face greater Congressional scrutiny."
"Over the past two months, core CPI has risen by 0.3% month-on-month in each release, while headline CPI has increased by 1% over the same period."
"A large upside surprise in payroll growth is probably more noise than substance, but we have also seen stronger-than-expected retail sales and GDP data."
"The bottom line is that there may be storm clouds gathering beyond the horizon, but for now the US economy continues to outperform most others."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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