U.S. Dollar Recovers Ground as Fed Officials Take Center Stage

-

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

Introduction

U.S. Dollar

U.S. Dollar: The U.S. Dollar has made a comeback against the euro, rebounding from an almost 8-week low, as market expectations grow that the Federal Reserve is done raising interest rates. This week, all eyes are on Federal Reserve officials for further signals on the central bank’s rate policy.

Fed Chairman’s Upcoming Speech on U.S. Dollar

Fed Chairman Jerome Powell is scheduled to speak on Wednesday and Thursday. Investors are closely watching whether he maintains the dovish tone he adopted after the recent Fed meeting.

Diverging Views Among Fed Officials:

Analysts anticipate a growing division within the Federal Open Market Committee (FOMC) between the doves and the hawks, despite a unanimous statement last week. The varying views of other Fed officials will be analyzed for hints about future rate increases.

Inflation Target and Weaker Jobs Growth:

Fed Gov. Lisa Cook expressed hope that the current target interest rate would bring inflation back to the Fed’s 2% goal. Weaker-than-expected job growth in October has raised concerns about a slowing U.S. economy, which could lead to the Fed maintaining steady interest rates.

Market Focus on Upcoming CPI Data:

The next significant market driver is expected to be the consumer price inflation (CPI) data for October, set to be released next week. Analysts believe this will be a key determinant for future Fed rate hikes.

U.S. Dollar
Also read " Artificial Intelligence Movies on Netflix"

Dollar’s Recovery:

The dollar index has rebounded, currently up 0.13% at 105.19 after hitting its weakest point since September 20 at 104.84. The dollar experienced its largest weekly decline since July last week, dropping 1.4%.

Euro’s Performance:

The euro has dipped slightly to $1.0723 after reaching its highest level since September 13 at $1.0756. Economic weakness in the eurozone compared to the U.S. might limit further gains for the euro.

Eurozone Economic Concerns:

A survey shows that the downturn in eurozone business activity accelerated last month, indicating a growing risk of a recession in the 20-country currency union.

Japanese Yen:

The dollar has risen against the Japanese yen, currently up 0.41% at 149.98. Japanese authorities may consider intervention or currency discussions if the yen reaches around 155 per dollar, as it did last week.

Australian Dollar:

The Australian dollar has fallen to $0.6491 after reaching a three-month high of $.6523. The Reserve Bank of Australia is expected to raise its key policy rate by 25 basis points to 4.35% on Tuesday following four consecutive meetings with unchanged borrowing costs.

 Recent Posts:

- Advertisement -
admin
adminhttps://ztome.com
Hello! I am Sonia, I am a professional blogger. I have 10 years of experience in creating engrossing content. I have worked in different domains like E-commerce, IT, Medical, Fashion, Ayurvedic... I would appreciate if you help me grow with this blogging website.

Latest news

Apple Watch Data: Average Person Takes 334 Days to Marathon

Explore marathon training insights, activity trends, and completion time estimation from Apple Watch data in the Apple Heart & Movement Study.

12 Foods that Boost Stamina Naturally: Energize Your Day

Ready to take your stamina to the next level? Jump into this ultimate guide showcasing 12 Foods that Boost Stamina Naturally and keep you powering through your day like a champ!

Fallout 4 next-generation update launches new content on April 25.

Much awaited: Fallout 4 next-generation update: The Fallout TV adaptation is on AmazonRelated Posts: Much awaited: Fallout 4 next-generation update:...

Best Wi-Fi CCTV Camera: How to Opt for the Best?

Looking for tips on how to select the best Wi-Fi CCTV camera for a safe home? Discover expert advice, FAQs, and essential information to help you make the right choice for your home security needs.

Healthy Habits to Reduce Belly Fat: 13 Amazing Ways

Struggling with belly fat? Learn Healthy Habits to Reduce Belly Fat now!

Must read

Apple Watch Data: Average Person Takes 334 Days to Marathon

Explore marathon training insights, activity trends, and completion time estimation from Apple Watch data in the Apple Heart & Movement Study.

12 Foods that Boost Stamina Naturally: Energize Your Day

Ready to take your stamina to the next level? Jump into this ultimate guide showcasing 12 Foods that Boost Stamina Naturally and keep you powering through your day like a champ!

You might also likeRELATED
Recommended to you