He dollar global rose on Tuesday, with a slight decline in euroas traders waited for the US retail sales report USA and the comments of those responsible for the Federal Reserve (Fed), that will help calibrate the timing of interest rate cuts.
He dollar index, which measures the performance of the US currency against a basket of six major currencies, rose 0.18%, to 105.46 points. It lost 0.2% on Monday and retreated from Friday’s six-week high of 105.80.
The greenback has been pulled in different directions, as the weak readings of the inflation in the United States contrasted with an overall hawkish stance by Fed officials at last week’s policy meeting, when they cut their previous median projection of three quarter-point rate cuts this year to one .
Last week’s 0.6% rally in the dollar was mainly due to the sharp decline in the euro after French President, Emmanuel Macroncalled early elections in response to the defeat of his ruling centrist party against the eurosceptic National Regrouping (RN) of Marine Le Pen in the elections to European Parliament.
The euro, which has stabilized this week, was down 0.17% at $1.0716, but above a six-week low of $1.0668 on Friday, after rising 0.26% on Monday.
Waiting for data and testimony from the Fed
Retail sales data USA They will be published at midday and are expected to show a 0.3% month-on-month rebound in May, after zero growth in April.
The president of the Federal Reserve from Philadelphia, Patrick Harker, He revealed on Monday that he is in favor of a one-time interest rate cut, but left the door open to changing his mind depending on the data that comes in.
Throughout the day, a long list of officials from the Federal Reserve They will speak in various forums, including Susan Collins of the Boston Fed and Thomas Barkin of the Richmond Fed.
The dollar in Uruguay enters the range of $39
The dollar opened the week higher after rising 0.21% this Monday compared to Friday, closing at 39.338 pesos, according to the official price of the Central Bank of Uruguay (BCU)completely recovering from its previous decline and entering the range of 39 pesos.
The US currency has now accumulated four weeks in positive territory and a variation of 1.41% so far in June, as well as a variation of 0.81% at an annual level, since its price is 0.32 pesos above the registered after the closing of the last exchange day of last year.
Source: Ambito
