- The US dollar index remains around 96.38, the lowest level since February 2022, Tuesday.
- The president of the Fed, Powell, said that the Central Bank will evaluate more data, but did not rule out a rate cut in July.
- The USM manufacturing PMI of the United States rose to 49.0 from 48.5 in May, in the face of the expectation of 48.8.
The US dollar index (DXY), which measures the value of the US dollar (USD) compared to six main currencies, remains stable and is quoted around 96.70 during Wednesday’s Asian hours. Operators will probably observe the US employment change report for June later in the day.
The president of the FED, Jerome Powell, stressed on Tuesday that the US Central Bank will evaluate more data before starting a relief of monetary policy, but did not rule out a reduction of rates at the July meeting. The US Treasury Secretary, Besent, told Fox News that he believes that the Federal Reserve will cut the interest rates before autumn, but they will definitely do it for September as late.
The USM manufacturing PMI of the United States advanced to 49.0 from 48.5 in May, exceeding the expectations of experts of 48.8. The readings indicated that economic activity in the US manufacturing sector improved in June. Jolts employment offers in the US increased to 7.76 million in May, compared to 7,395 million offers reported in April. This figure exceeded the expectation of the market of 7.3 million.
The US Senate approved the “Great and Beautiful Budget Law” of President Trump, with a narrow margin of 51-50. The bill is now addressed to the US House of Representatives, where an adjusted vote is expected to face. Trump, who campaigned to eliminate the Federal US deficit, is now ready to sign an expense bill that will add trillion dollars to the national debt in the next decade.
American dollar today
The lower table shows the percentage of US dollar change (USD) compared to the main coins today. American dollar was the strongest currency against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.01% | -0.03% | 0.07% | 0.01% | 0.06% | -0.12% | -0.06% | |
| EUR | -0.01% | -0.08% | 0.03% | -0.02% | 0.05% | -0.02% | -0.06% | |
| GBP | 0.03% | 0.08% | 0.10% | 0.05% | 0.08% | 0.02% | -0.02% | |
| JPY | -0.07% | -0.03% | -0.10% | -0.04% | -0.00% | -0.12% | -0.10% | |
| CAD | -0.01% | 0.02% | -0.05% | 0.04% | 0.07% | -0.02% | -0.06% | |
| Aud | -0.06% | -0.05% | -0.08% | 0.00% | -0.07% | -0.02% | -0.10% | |
| NZD | 0.12% | 0.02% | -0.02% | 0.12% | 0.02% | 0.02% | -0.04% | |
| CHF | 0.06% | 0.06% | 0.02% | 0.10% | 0.06% | 0.10% | 0.04% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
