The Dollar Kept A Firm Posture Yesterday

The Dollar kept a firm posture yesterday, and is up in early U.S. trade. Stocks, however, suffered on inflation fears, with investors worried that the Fed may not be done with rates hikes. Wednesday's steep hike in labor costs seems to be the impetus, though overnight, equity futures were up. On the data front, Thursday's releases were on the soft side. July wholesale inventories were unchanged at .8%, but wholesale sales up only 0.4% in July, against expectations of 1.2%. Last month's figure was 1.4%. In terms of today's data, it includes only consumer credit figures for July, which are expected at 5 billion. Read More....