2023-07-10 09:47:30
Around 10:45 a.m., the dollar took 0.04% once morest the euro at 1.0962 dollars for one euro, and 0.16% at 1.2818 dollars for one pound.
The dollar rallied on Monday following its losses of the past week, as investors focused on upcoming US inflation data that should influence the Fed’s monetary policy.
Around 08:45 GMT (10:45 CET), the dollar gained 0.04% once morest the euro at 1.0962 dollars for one euro, and 0.16% at 1.2818 dollars for one pound.
“The US dollar starts the week with some gains once morest other major currencies following Friday’s losses,” following weaker-than-expected US job creation data, said Ricardo Evangelista, analyst at ActivTrades.
Some 209,000 new jobs were created in the United States in June, a number lower than forecasts by economists who expected 220,000.
“Having had time to digest the shock, investors are now focused on the release of US inflation figures on Wednesday, with the dollar finding some support,” continued Evangelista.
Although lower than expected, the number of new jobs created in the US economy in June still exceeded 200,000, which testifies to the good health of the labor market.
Unless “inflation surprises significantly on the downside, the market consensus will remain fixed on a further Fed hike (US Federal Reserve, editor’s note) in July, a positive scenario for the dollar”, he says. .
In the UK, Bank of England (BoE) Governor Andrew Bailey and Chancellor of the Exchequer Jeremy Hunt are due to speak in the early evening at Mansion House, the official residence of the Lord Mayor of the City of London.
Although the market still does not know to what extent the institution’s monetary policy outlook will be addressed, investors “will be attentive to any clues to the extent of the tightening that the BoE plans to implement”, underline the CBA analysts. .
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