{"id":7125,"date":"2024-12-09T08:08:07","date_gmt":"2024-12-09T08:08:07","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&p=7125"},"modified":"2025-05-12T12:54:27","modified_gmt":"2025-05-12T12:54:27","slug":"dxy-dec-2024","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/opening-bell\/dxy-dec-2024\/","title":{"rendered":"CPI Projected to Be Higher: DXY Recovery Possible Before Wednesday"},"content":{"rendered":"\n

To kick off the week, we have the DXY possibly making a recovery from this point to 106.400 or higher, as CPI data this Wednesday is projected to come in higher.<\/p>\n\n\n\n

The U.S. Consumer Price Index (CPI) data scheduled for release on December 11, 2024, is anticipated to show a year-over-year increase to 2.7%, up from the previous 2.6% \u2013 showing a slight uptick in inflation. The month-over-month core CPI is expected to remain steady at 0.3%. <\/p>\n\n\n\n

Data Point<\/td>Previous<\/td>Forecast<\/td><\/tr>
Core CPI (m\/m)<\/td>0.3%<\/td>0.3%<\/td><\/tr>
Core CPI (y\/y)<\/td>2.6%<\/td>2.7%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Overall, the DXY is bearish as it hit our 108.000 projection<\/a> as part of a ABC corrective wave. However, these projections do bring about the speculation for a rate hold in the coming December 18th Fed Fund Decision, which currently sits at 16.6%.<\/p>\n\n\n\n

These speculations could help DXY recover slightly before the actual data is revealed on Wednesday.<\/p>\n\n\n\n

DXY Technical Analysis<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n

The DXY recently failed to breach 108, signalling potential downside toward sub-104.000 or even the September low of 100.157. However, several technical indicators suggest a near-term bullish reversal is possible.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Several technical bullish observations to consider:<\/strong><\/p>\n\n\n\n