dollar indexContinuing yesterday’s depreciation, it fell slightly on Thursday (8), as investors continued to evaluate the Fed’s policy outlook and the possibility of raising interest rates leading to an economic recession.
ICE, which tracks the dollar against six major currencies, in late US trade dollar index (DXY extension) fell 0.30% to 104.79.
Interest rate meetings of the Federal Reserve (Fed), the European Central Bank (ECB) and the Bank of England (BOE) are taking place next week. a sign that the Fed is ready to stop raising rates.
Ed Moya, senior market analyst at Oanda, said: “Most of the recent dollar weakness is due to the fact that we are nearing the end of the tightening cycle and exactly when it ends will determine the dollar’s performance. investors seem to be preparing for a slightly weaker dollar at the moment, but the phase There are still many global risks in the world, so we will not see a one-way depreciation of the dollar.
EUR、GBPBoth climbing high,EURrose 0.5% to $1.0555,GBPIt rose 0.3% to $1.2238.
In addition, the day before the Fed’s interest rate decision is also the day the US Consumer Price Index (CPI) report is released, which is very important for long-term policy expectations monetary.
RBC foreign exchange strategist Adam Cole said that the current CPI is a very important data to observe the movement of the US dollar and believes that there will be no major movements until the release of the Fed meeting and the CPI report.
Meanwhile, international oil prices fell below $80 a barrel on Thursday for the first time since the outbreak of the Russo-Ukrainian war in late February as investors became increasingly concerned about the impact of a slowdown in economics on global energy demand.
CurrentlyBrent crude oilFutures are down about $76, nearly halved from a 14-year high hit in March, and U.S. gasoline is now at $3.329, down from an all-time high of $5.016 set in June and down 0.4% compared to a year ago.
As energy prices fall, market inflation expectations are also cooling: the US 10-year break-even inflation rate fell from over 3% in April to 2.26% now.
“The dollar’s movement underscores that investors are becoming less concerned about upside risks to inflation and more about downside risks to global growth,” said Lee Hardman, currency strategist at MUFG.
As the dollar weakens,Australian dollarrose 0.76% to $0.6773,string sourceThe dollar rose 0.4% to $0.6378, along with the dollarcanadian dollarthen it fell 0.5% to 1.3584 canadian dollar。
Starting at around 6:00 Taiwan time on Friday (9) Price:
- dollar indexCall 104.7924. -0.3858%
- EURExchange rate against the US dollar (EUR/USD) 1 EURAgainst $1.0557. +0.4854%
- GBPExchange rate against USD (GBP/USD) 1 GBPAgainst 1.2239 yuan. +0.2375%
- Australian dollarExchange rate against the US dollar (AUD/USD) 1 Australian dollarAgainst 0.6770 yuan. +0.6691%
- US dollar vsCanadian dollars The exchange rate (USD/CAD) quoted 1 US dollar at 1.3585 Canadian dollars。+0.4835%
- US dollar vsJPY The exchange rate (USD/JPY) quoted 1 US dollar at 136.67 JPY。+0.0586%
