In 2023 the dollar fell 2%, snapping two years of gains, as investors weighed the possibility of the Fed cutting rates this year.
He dollar climb on the first trading day of the yearwhile attention focused on the US employment data and the inflation this week’s European elections, which may give clues about the next movements of central banks.
He dollar index, which measures the performance of the US currency against a basket of six major currencies, rose 0.17% to 101.55. In 2023 u felln 2%, breaking two years of gainsas investors weighed the possibility of the Fed cutting rates this year.
On the opposite side to the rise of the dollar was the euro, which fell 0.17% as traders digested data showing euro zone factory activity contracted in December for the 18th consecutive month.
The dollar also rose against the japanese yengaining 0.43% to 141.4 yen.
dollar euro.jpg
Dollar: this week’s key data
This week they will be published numerous economic data, such as European inflation and US non-farm payrolls, which will help define market expectations regarding the monetary policy of the Federal Reserve and the European Central Bank.
The probability that the Federal Reserve cut out the interest rates as of March it is 86%, according to CME’s FedWatch tool, with more than 150 basis points (bps) of easing expected this year.
The minutes of the meeting will be published on Thursday. December Federal Reserve meetingwhich will provide more information about the ideas of the central bankers.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
