He global dollar managed to appreciate this Monday morning, along with other world stock markets, after Chinese data improved expectations and investors tried to avoid the minefield of this week’s central bank meetings; Meanwhile in Uruguay The dollar managed to recover a little but could not avoid closing its fifth week lower.
The dollar appreciated against its Japanese pair, to 149.12 yen, Meanwhile he euro It traded at $1.0894 after losing 0.5% last week and moving away from a high of $1.0963.
The futures of S&P 500 added 0.3% and those of Nasdaq, 0.6%, amid increased tension ahead of the Federal Reserve’s monetary policy meeting on Tuesday and Wednesday.
“Recent data from USA indicate gradual steps towards increasing inflation risks,” he said in a note Dana Malas, strategist at SEB Bank. “That the path to 2% is straight is an illusion; setbacks are inevitable. Disinflationary forces remain stronger than inflationary pressures,” he added.
The return of the Treasury bond The two-year American paper rose to 4.71%, after gaining 24 basis points last week, while the 10-year paper traded at 4.306%.
The advance of dollar and the returns took some shine off gold, which fell to $2,152.59 an ounce, after losing 1% last week and moving away from all-time highs. Meanwhile, crude oil prices improved more than 60 cents.
Another factor to take into account is that the central banks of United States, Japan, United Kingdom, Switzerland, Norway, Australia, Indonesia, Taiwan, Turkey, Brazil and Mexico They meet this week and while many are expected to remain stable, there is plenty of room for surprises.
The increases in Uruguay are not enough
He dollar rose 0.13% on Friday of last week compared to Thursday and closed at 38.454 pesos, according to the price of the Central Bank of Uruguay (BCU), closing a new negative week that placed it far from the range of 39 pesos.
In this way, the US currency fell 1.52% so far this month, moving away from the value expected by the market and far from any possibility of rebound. Meanwhile, if it is compared to the end of 2023, the price of dollar fell 1.46%.
Regarding the behavior in recent days, the bill reached its fifth consecutive week downward, falling 0.78% compared to Monday’s opening value, which was 38,756 pesos.
Source: Ambito
