October 15, 2026
The US dollar recorded its highest levels in 18 months, while gold prices and stock indices on the Wall Street Stock Exchange witnessed a noticeable decline, following the release of official data that showed inflation rates in the United States accelerating more than expected, which reinforced speculation that the Federal Reserve would soon resort to raising interest rates.
The US Bureau of Labor Statistics reported that the annual inflation rate rose to 3.7% last September, compared to 3.4% in August, driven by a 2.6% increase in energy prices and a jump in gasoline prices of about 9.1%.
In terms of currency trading, the dollar index – which measures the performance of the US currency against a basket of six major currencies – rose by 0.68% to reach 102.86 points, while the dollar rose against the Japanese yen, recording 158.74 yen.
In the precious metals markets, gold prices in spot transactions fell by 1.7% to $4,086.06 per ounce, recording their lowest level since October 7th. US gold futures also fell by 1.6% to settle at $4,108.60.
In the same context, CME Group data showed a jump in the possibility of the Federal Reserve raising interest rates during October to 42%, compared to 22% before the announcement of inflation data, amid growing fears of the continuation of the monetary tightening path.
The wave of decline extended to include US stocks on Wall Street at the opening of the session. The Dow Jones Index fell by 0.16%, the Standard & Poor’s 500 Index fell by 0.40%, while the Nasdaq Index fell by 0.63%.
These developments come amid investors’ concern that inflation will remain higher than the bank’s target of 2%, and what this means is the possibility of imposing additional borrowing costs in the near future.
