Created
: 2024.07.05
2024.07.05 20:36
The Dollar Index (DXY) is trading lower near 105. EUR/USD is trading higher near $1.0825. USD/JPY is trading lower near 160.80, BBH FX strategists note.
"DXY is trading lower for the fourth straight day just below 105 as weak data and less hawkish Federal Reserve (Fed/FOMC) minutes take a toll. EUR/USD is trading higher near $1.0825 despite weak data, while the Pound Sterling is trading higher near $1.2790 after Labour's landslide win. USD/JPY is trading lower near 160.80 after the 162 level held earlier this week."
"Recent soft data are challenging our view that the backdrop of persistent inflation and robust growth in the U.S. remains largely in place, which has also led Fed officials to voice more concern about the economy."
"Still, we note that weaker data in many of the major economies underscore the economic and monetary policy divergences that should continue to support the dollar. Today's jobs report will be key for global markets."
Created
: 2024.07.05
Last updated
: 2024.07.05
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy