2023-08-07 19:21:56
The dollar remained stable on Monday once morest the euro, during a calm session on the front of the American economy. Around 6:40 p.m. GMT, the greenback lost 0.02% once morest the euro at 1.1008 dollars for one euro. The Dollar Index which compares the greenback to a basket of major currencies grabbed 0.04% to 102.05 points. “It’s kind of the calm before the storm”commented Marc Chandler of Bannockburn Global Forex. “Between the employment figures that fell on Friday and the CPI inflation index expected on Thursday”he added.
Good bookkeeping
Analysts expect prices in the United States to have risen slightly once more in July to +0.2% on the month, as in June. Over the year, inflation might stand, according to them, at 3.3%, which is stronger than in June (+3%). “A low number will likely mark the end of the current rate hike cycle and might weaken the greenback”said Ricardo Evangelista of ActivTrade, when on the contrary, a higher figure should increase expectations of another Fed rate hike before the end of the year, “and would be likely to result in gains” for currency.
On Monday, a Fed official, Michelle Bowman, reiterated that she expected further rate hikes from the central bank in order to contain inflation. While US long rates stretched to 4.07% for 10-year bonds and 4.25% for 30-year bonds, the yen lost ground once morest the dollar at 142.43 yen to the dollar (-0, 47%).
The British pound was up 0.28% once morest the greenback at $1.2785 to the pound as once morest the euro. “According to Goldman Sachs analysts, the Fed is done with rate hikes, the European Central Bank has one more, and the Bank of England two,” indicated Marc Chandler to explain the good behavior of the book.
Monday class Friday class
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6:40 PM GMT 9:00 PM GMT
EUR/USD 1,1008 1,1006
EUR/JPY 156.79 156.02
EUR/CHF 0.9610 0.9602
EUR/GBP 0,8610 0,8632
USD/JPY 142,43 141,76
USD/CHF 0,8731 0,8724
GBP/USD 1,2785 1,2749
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#stable #dollar #awaiting #inflation
