During the month of June, the dollar weakened against all the G10 currencies except the Japanese yen, but the greenback has received quite a bit of support in recent days. The economists of ENG they analyze the prospects of the dollar.
Data in the spotlight amid low volume for the holidays
The Independence Day holiday in the US gets the week off to a quiet start for markets, but US data will soon attract market attention again now that the Fed’s rate hike in July is an opinion of consensus and there is also speculation about a movement in September.
Today, all eyes will be on the ISM manufacturing index, although most attention will focus on the services survey that is released on Thursday (the May data fell more than expected). June jobs figures to be released on Friday: after Powell’s latest comments, a very weak reading will probably be needed to call into question a rate hike in July.
On the Fed side, the first event to watch for will be Wednesday, when the June FOMC minutes are released. Dollar is likely to find some more support this weekas markets see more reason in the data and minutes to gradually align with hawkish projections.
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.
