Market Roundup: USD Slides, Equities & Crypto Climb
Quick Summary
Dollar weakens after soft inflation signals; EUR/USD edges higher, USD/JPY slips.
Stocks surge: S&P 500 and Nasdaq hit records, backed by resilient earnings and AI optimism.
Bitcoin & Ethereum rally as sentiment improves amid rate-cut hopes.
Barclays raises S&P 500 target to 6,450 for year-end, eyes 7,000 in 2026.
Intro
Here’s the full-day snapshot, USDxchange style: the dollar dipped as softer inflation data stoked fed-cut hopes. Equities surged, crypto found its stride, and forecasts got bullish—Barclays raised its S&P target again. Today’s news isn’t just headlines—it’s a coordinated market pivot. Across crypto, FX, stocks, and macro data, every asset class moved in sync. Let’s dive deep.
Forex & Currency Moves
EUR/USD climbed ~0.2% to ~1.1705, reacting to dollar softness and inflation data.
USD/JPY eased ~0.3% to around 147.2, weighed down by rising rate-cut expectations.
Other G10 currencies showed gains as traders price-in easing.
Stocks & Market Reaction
S&P 500 rose ~0.3% to a new closing high; Nasdaq also traded up near record levels (16:45 ET).
Treasury yields fell, especially the 10-year, amid renewed hopes of future rate cuts.
Barclays lifted its year-end S&P target to 6,450 (from 6,050) citing earnings and AI optimism.
Reuters+1
Crypto vs USD
Bitcoin held above $113K, Ethereum around $4.33K, both trading higher as risk assets gained momentum today.
Benzinga
Economic Events Recap
Producer Price Index (PPI) came in softer, reinforcing views of cooling inflation.
No major central bank speeches, but traders are increasingly pricing in Fed easing.
ReutersFutubull News
Christy’s Takeaway & Prediction (Analysis)
The markets are telling a story: easing inflation -> softer dollar -> surging equities and crypto. My take? The dollar may linger near the mid-97 DXY area through tomorrow, equities could test S&P 6,600, and crypto may chart higher if sentiment stays upbeat. Keep an eye on tomorrow's CPI—if it undershoots again, today might prove the pivot point.
Outlook for Tomorrow
CPI release—will confirm today’s inflation theme.
EUR/USD upside tested near 1.1720; break could open next leg.
S&P 500: watch 6,600 resistance.
Bitcoin: psychological level at $115K.
Fed commentary: any hawkish squeak could snap current convictions.
FAQ
Q: Why did stocks and crypto rally together today?
Expectations of easing inflation and Fed cuts boosted risk assets across the board.
Q: Is the dollar bounce-back likely tomorrow?
Only if inflation surprises higher—otherwise meandering lower remains the bias.
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Sources
Global markets gain, dollar dips after soft inflation — Reuters Reuters
Barclays lifts S&P 2025 target — Reuters Reuters
Bitcoin & Ethereum hold steady — Benzinga Benzinga
PPI data and dollar move — Reuters/Futunn Futubull News