DXY: USD exchange rate today (November 1); The USD reversed and
The US economy is resilient, as evidenced by new data released on October 31. This is the most recent indication that the US Federal Reserve (Fed) can sustain high interest rates for an extended length of time.
As a result, given the substantial rise in wages during the third quarter, US labor costs rose dramatically. After increasing by 1.0% between April and June, the employment expenditure index (ECI) increased by 1.1% in the most recent quarter.
According to additional data, US housing prices increased in August for the third straight month, up 5.6% over the same time last year and 4.6% from July.
The Fed started a two-day policy meeting on October 31 and was predicted to maintain interest rates at that time.
As a result, given the substantial rise in wages during the third quarter, US labor costs rose dramatically. After increasing by 1.0% between April and June, the employment expenditure index (ECI) increased by 1.1% in the most recent quarter.
According to additional data, US housing prices increased in August for the third straight month, up 5.6% over the same time last year and 4.6% from July.
The Fed started a two-day policy meeting on October 31 and was predicted to maintain interest rates at that time.
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