The US dollar rose: The US dollar rose in the European market on Monday against a basket of global currencies, for the first time in the last nine days, consolidating above its level in three weeks. This recovery came thanks to the increasing demand for the dollar as the best investment, in aversion to the consequences of the French elections. The markets are awaiting evidence about the future of US interest policy: This week, the markets are awaiting a group of important economic data that will provide strong evidence about the future of US interest policy. Investors are eagerly awaiting statements from the US Federal Reserve, employment and unemployment reports, and determining the direction of interest over the next period.
Expected economic data: Markets are awaiting important economic data this week, including the monthly employment report in the United States, which indicates a major indicator of the health of the American economy. In addition, the US Federal Reserve bears responsibility for monetary policy and will monitor investors who provide signals about raising or lowering rates in the near future. This week, markets await Federal Reserve Chairman Jerome Powell’s testimony before Congress, comments from some federal monetary policy makers, in addition to key inflation data in the United States, in search of strong evidence about the future of US interest rates this year.
Upcoming economic events: Jerome Powell’s semi-annual testimony: Federal Reserve Chairman Jerome Powell’s semi-annual testimony begins tomorrow, Tuesday, before the Senate Banking Committee in Washington, DC. And statements by Federal Reserve officials: Throughout this week, some Federal Reserve officials are talking about the development of the inflation battle and the future of US interest rates. Economic data is important. The main inflation data in the United States for June will be released on Thursday.
Markets await clues about the future of US interest policy
The US dollar rose: The US dollar rose in the European market on Monday against a basket of global currencies, for the first time in the last nine days, consolidating above its level in three weeks. This recovery came thanks to the increasing demand for the dollar as the best investment, in aversion to the consequences of the French elections. Markets are awaiting evidence about the future of US interest policy: This week, markets are awaiting a group of important economic data that will provide strong evidence about the future of US interest policy. Investors are eagerly awaiting statements from the US Federal Reserve, employment and unemployment reports, and determining the direction of interest over the next period.
A look at the US dollar index: The price of the US dollar index today: The dollar index rose by 0.15% to the level of 105.03 points, from the opening level of today’s trading at 104.88 points, and recorded the lowest level at 104.85 points.
Index performance on Friday: The index ended Friday trading down by 0.25%, marking seven daily losses in a row, and recorded its lowest level in three weeks at 104.83 points due to weak data on the labor market in the United States. The US dollar index fell by 0.95% last week, the first weekly loss in the last five weeks, due to the release of a series of Katami economic data that strongly strengthened the possibilities of cutting US interest rates at least twice this year.
US interest rates: Expectations of a rate cut:
Futures pricing on the possibility of a 25 basis point cut in US interest rates in September is currently stable at 7%.
The odds of a drop in September are 73%. The probability of a decline in November is 84%.
Today’s dollar price against other currencies: a comprehensive analysis of market changes
Today, the US dollar is experiencing notable fluctuations against other currencies, reflecting dynamic changes in global financial markets amid rising economic concerns and inflationary pressures. Investors seek safe havens and better returns.
The price of the dollar against the euro
The US dollar saw a slight decline against the euro today, hitting $1.0900 per euro. This decline comes amid reports of a slight improvement in the European economy and expectations of monetary policy tightening by the European Central Bank.
The price of the dollar against the British pound
The US dollar rose against the British pound, reaching $1.2600 per pound. This rise is due to increasing concerns about the British economy in light of the Bank of England’s recent statements about slowing economic growth.
The price of the dollar against the Japanese yen
The dollar rose significantly against the Japanese yen, reaching 110.50 yen per dollar. This rise reflects investors’ shift towards the dollar as a safe haven in light of the ongoing economic fluctuations in Asia.
The price of the dollar against the Swiss franc
The dollar fell against the Swiss franc, reaching 0.9200 francs per dollar. This decline indicates increasing demand for the Swiss franc as a safe-haven currency amid global economic concerns.
Factors affecting the price of the dollar
– Monetary policies: The monetary policies of central banks, such as the US Federal Reserve, play a major role in determining the price of the dollar.
– Economic data: Economic data, such as inflation, growth, and unemployment rates, directly affect the value of the dollar.
Conclusion
The US dollar remains a key pivot in global financial markets, as its changes directly affect global economies. Keeping an eye on the dollar price and its future outlook remains vital for investors and traders alike.
