Forex
BOC Cuts Key Interest Rate 25 Bps To 4.75%, Matching Estimate
Investing.com - The U.S. dollar rose in early European trade Wednesday, bouncing off two-month lows ahead of more clues of future monetary policy.
At 03:40 ET (08:40 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.2% to 104.265, after dipping below 104 for the first time since early April earlier this week.
Dollar strength likely to lastThe dollar has gained over 3% this year, with most of this strength stemming... (continue reading...)
By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) -The U.S. dollar drifted higher on Wednesday after data showed the services sector in the world's largest economy rebounded in May after contracting the month before, highlighting uncertainty surrounding the expected start of the Federal Reserve's easing cycle later this year.
The Institute for Supply Management said its nonmanufacturing purchasing managers index rose to 53.8 last month from 49.4... (continue reading...)
By Hari Kishan
BENGALURU (Reuters) - The dollar's relentless strength in the recent past will make way for minor weakness over the next 12 months, according to FX strategists in a Reuters poll, who generally agreed the dollar was overvalued.
Analysts have been predicting dollar weakness just around the corner for months. But the greenback has continued to extend its dominance against most major currencies, with the dollar index up 2.9%... (continue reading...)
Investing.com – "Regarding the European Central Bank, our estimates predict that the first cut will occur during the June meeting, followed by three more cuts of 25 basis points each by the end of the year," forecasts Azad Zangana, senior European economist & strategist at Schroders on the ECB's upcoming monetary decisions.
The Eurozone's economy has started to grow againAfter a brief technical recession in the second half of 2023, the Eurozone returned to growth in... (continue reading...)
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