U.S. Dollar Jumps Ahead Of Key U.S. Economic Data
08 Ottobre 2024 - 5:41PM
RTTF2
The U.S. dollar was higher against its major counterparts in the
New York session on Tuesday, as traders pared bets on aggressive
Federal Reserve interest-rate cuts and awaited minutes of the
Federal Reserve's latest policy meeting scheduled for
Wednesday.
The CPI data, due on Thursday, could provide more clues on the
Fed's rate path.
The annual inflation is expected to ease to 2.3 percent from 2.5
percent.
After Friday's upbeat jobs data, traders now expect only a
quarter-point cut in interest rates at the Federal Reserve's next
policy announcement on November 7, with a small chance that the
policy rate stays unchanged.
Data from the Commerce Department showed that the U.S. trade
deficit narrowed in the month of August.
The trade deficit shrank to $70.4 billion in August from a
revised $78.9 billion in July.
Economists had expected the trade deficit to decrease to $70.6
billion from the $78.8 billion originally reported for the previous
month.
The greenback edged up to 0.8584 against the franc, 148.35
against the yen and 1.0960 against the euro, off its early 4-day
lows of 0.8530, 147.34 and 1.0996, respectively. The currency is
seen finding resistance around 0.89 against the franc, 150.00
against the yen and 1.08 against the euro.
The greenback rebounded to 1.3075 against the pound. The
currency is poised to challenge resistance around the 1.29
level.
The greenback climbed to near a 2-month high of 1.3675 against
the loonie. Immediate resistance for the currency is seen around
the 1.38 level.
The greenback was up against the kiwi, at 0.6123. This may be
compared to an early nearly 4-week high of 0.6107. The currency is
likely to locate resistance around the 0.60 level.
In contrast, the greenback was trading at 0.6741 against the
aussie, down from an early fresh 3-week low of 0.6769. If the
greenback falls further, it is likely to test support around the
0.70 region.
Grafico Cross Euro vs US Dollar (FX:EURUSD)
Da Ott 2024 a Nov 2024
Grafico Cross Euro vs US Dollar (FX:EURUSD)
Da Nov 2023 a Nov 2024
