FOREX TradingCharts.com
HOMECHARTS & QUOTESFOREX NEWSFOREX QUOTESLEARN FOREXFOREX BROKER LISTBOOKMARKFEEDBACK

Forex News: U.S. Dollar Climbs Before Powell's Speech

U.S. Dollar Climbs Before Powell's Speech

07/01/2024 - 14:08:00 (RTTNews)

(RTTNews) - The U.S. dollar firmed against its major counterparts in the New York session on Monday, as investors await key economic data and Fed Chair Jerome Powell's speech for clues on the monetary policy outlook.

Powell will speak at the ECB Forum in Sintra on Tuesday.

The minutes of Fed's June FOMC meeting, jobs data for June and job openings data for May are also due this week.

The jobs data is expected to show a slowdown in the pace of job growth in the month of June and could impact the outlook for interest rates.

Data from the Institute for Supply Management showed that U.S. manufacturing activity unexpectedly contracted at a slightly faster rate in the month of June.

The ISM said its manufacturing PMI edged down to 48.5 in June from 48.7 in May, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 49.1.

The greenback recovered to 1.0719 against the euro and 1.2636 against the pound, from an early nearly 3-week low of 1.0776 and nearly a 2-week low of 1.2709, respectively. The greenback is seen finding resistance around 1.05 against the euro and 1.24 against the pound.

The greenback advanced to more than a 4-week high of 0.9044 against the franc and a 38-year high of 161.72 against the yen, off its early lows of 0.8975 and 160.68, respectively. The next possible resistance for the greenback is seen around 0.92 against the franc and 163.00 against the yen.

The greenback rose to 0.6643 against the aussie and 0.6065 against the kiwi, from an early 5-day low of 0.6688 and a 4-day low of 0.6107, respectively. The currency is likely to locate resistance around 0.64 against the aussie and 0.58 against the kiwi.

The greenback touched near a 2-week high of 1.3747 against the loonie. Next key resistance for the currency is seen around the 1.39 level.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


U.S. Dollar Weakens As Soft Data Lifts Rate Cut Hopes (04 hr(s), 22 min(s), 09 sec(s) ago)
(RTTNews) - The U.S. dollar moved down against its major counterparts in the New York session on W ...Full Story»
Antipodean Currencies Rise Amid Risk Appetite (14 hr(s), 34 min(s), 09 sec(s) ago)
(RTTNews) - Antipodean currencies such as the Australia and the New Zealand dollars strengthened a ...Full Story»
Yen Slides Against Majors (15 hr(s), 58 min(s), 09 sec(s) ago)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Wedne ...Full Story»
NZ Dollar Advances Against Most Majors (16 hr(s), 25 min(s), 09 sec(s) ago)
(RTTNews) - The New Zealand dollar strengthened against most major currencies in the Asian session ...Full Story»
Australian Dollar Rises Against Majors (16 hr(s), 49 min(s), 09 sec(s) ago)
(RTTNews) - The Australian dollar strengthened against other major currencies in the Asian session ...Full Story»
U.S. Dollar Drops As Powell Signals Progress On Softening Of Price Pressures (04 hr(s), 58 min(s), 09 sec(s) ago)
(RTTNews) - The U.S. dollar weakened against its major counterparts in the New York session on Tue ...Full Story»
Canadian Dollar Drops Against Most Majors (14 hr(s), 52 min(s), 09 sec(s) ago)
(RTTNews) - The Canadian dollar weakened against most major currencies in the Asian session on Tue ...Full Story»
NZ Dollar Slides Against Most Majors (15 hr(s), 07 min(s), 09 sec(s) ago)
(RTTNews) - The New Zealand dollar weakened against most major currencies in the Asian session on ...Full Story»
Search

FOREX NEWS

U.S. Dollar Weakens As Soft Data Lifts Rate Cut Hopes

07/03/2024 - 13:27 PM (RTTNews)
(RTTNews) - The U.S. dollar moved down against its major counterparts in the New York session on W ...Full Story>>

Antipodean Currencies Rise Amid Risk Appetite

07/03/2024 - 03:16 AM (RTTNews)
(RTTNews) - Antipodean currencies such as the Australia and the New Zealand dollars strengthened a ...Full Story>>

Yen Slides Against Majors

07/03/2024 - 01:51 AM (RTTNews)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Wedne ...Full Story>>

NZ Dollar Advances Against Most Majors

07/03/2024 - 01:25 AM (RTTNews)
(RTTNews) - The New Zealand dollar strengthened against most major currencies in the Asian session ...Full Story>>

Australian Dollar Rises Against Majors

07/03/2024 - 01:00 AM (RTTNews)
(RTTNews) - The Australian dollar strengthened against other major currencies in the Asian session ...Full Story>>
USDCAD
Economic CalendarForex GlossaryForeign Exchange RatesForex Currency TradingForex ChartsPrivacy Policy Translate AdvertiseContact Us

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.