Lates News

Mitsubishi UFJ analyst Derek Halpern said that if the upcoming Nvidia earnings report causes further decline in the US stock market, the dollar may weaken. He pointed out that the current correlation between the dollar and the stock market may be due to concerns that a drop in technology/artificial intelligence sector stocks could impact the overall economy. Additionally, further decline in the stock market "will undoubtedly increase the possibility of the Federal Reserve agreeing to a 'insurance-style' rate cut in December." In other words, disappointing Nvidia performance may put pressure on the dollar. However, he said that the market will quickly shift its focus back to the US non-farm payroll data for September, which will ultimately determine the dollar's trend before the end of the year.