(CercleFinance.com) -No ‘stats’, no ‘messages’ from central bankers but many declarations from Donald Trump which seem to maintain the hope of a policy oriented towards growth… and this supports the Dollar which is rising towards its best levels since July 2 if we refer to the ‘$-Index’ which climbs to around 105.70 and is trading this evening around 105.55, or +0.55%.
The greenback gained 0.6% against the Euro which fell significantly below 1.0700: it fell by 60 ‘pips’ towards 1.0655 and even 1.0630 during the session, its lowest intraday score since the April 18 (and lowest close since April 22).
The Yen lost 0.7% (the $ rose towards 153.7), the Swiss Franc 0.6% and the Pound held up a little better (-0.4% towards 1.2870).
Finally, the Yuan also lost -0.40% to $7.2140.
The Dollar could mark time tomorrow with consumer price figures which could confirm the return of inflation towards the 2% objective set by the Fed… which would fuel the anticipation of a further reduction in -25Base Points mid-December.
Retail sales, expected on Friday, could suffer from disruptions linked to hurricanes and pre-election uncertainty likely to have slowed household spending.
In Europe, there are few figures to sink your teeth into this week: in Germany, the ZEW investor morale index could tomorrow reflect the impact of the political crisis due to the breakdown of the tripartite coalition that occurred last week.
‘Due to upcoming government spending cuts in the region’s two largest economies, France and Germany, as well as disappointing growth in Europe more generally, it is likely that the ECB will have to cut rates to a lower level at a neutral rate of 2%’, predicts the asset manager.
One of the ‘facts of the day’ is the new absolute record ‘exploded’ by Bitcoin which soared +10.2% towards $87,200 and which jumped +15% in 2 sessions, i.e. 18, 5% beyond the previous record of $73,600 at the beginning of March… and October 29.
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