Financial Digest

Dollar firm on Fed rate hike view, focus on China data

  • 📰 Reuters
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

The dollar eased on Tuesday after rallying overnight as strong U.S. economic data reinforced expectations that the Federal reserve will hike interest rates again in May, while investors awaited data from China that will highlight the extent of the recovery of the world's second biggest economy.

The dollar index , which measures the currency against six major rivals, fell 0.039% to 102.05, after rising 0.5% overnight.confidence among U.S. single-family homebuilders improved for a fourth straight month in April, while manufacturing activity in New York state increased for the first time in five months.

Markets are pricing in a 91% chance of the Fed raising interest rates by 25 basis points at its next meeting in May, CME FedWatch tool showed, with traders expecting rate cuts towards the end of the year. The euro was down 0.01% at $1.0925, easing away from the one-year high of $1.10755 it touched last week.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US Dollar recovers as markets expect Fed rate hike in MayThe US Dollar (USD) started the new week on a bullish note after having registered strong gains against its major rivals ahead of the weekend. The lat
Source: FXStreetNews - 🏆 14. / 72 Read more »