403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Today's markets analysis on behalf of Stefan Arsenovic, Founder and CEO at Eleonex
(MENAFN- Your Mind Media ) The US dollar was relatively stable on Monday, with trading thinned by a US public holiday, while market participants prepare for a pivotal week ahead. The greenback held close to recent lows despite last week's firmer-than-expected labour market figures, which reinforced expectations of tighter monetary policy. Markets now price in around a 58% likelihood of an interest rate hike at this month's Federal Reserve meeting.
Persistent tensions in the Middle East kept oil prices elevated, sustaining inflation concerns and reinforcing the case for a more restrictive stance. The fragile backdrop also sustains demand for the currency as a safe-haven asset.
Attention turns to producer prices on Thursday and consumer price figures on Friday. A firmer core reading could reinforce expectations of an interest rate increase in September, extend the rise in yields and support the dollar. In contrast, a weaker reading could prompt traders to reduce their bets on an interest rate hike and weigh on the dollar and yields.
Meanwhile, the European Central Bank is set to announce its monetary policy decision on Thursday. An interest rate hike is widely expected, and hawkish guidance could weigh on the dollar. Additionally, the prospect of tightening from the Bank of Japan could add pressure on the US currency.
Appreciate yourcooperation in publishing the analysis.
For any inquiry or more information please do not hesitate to contact us.
Regards
Persistent tensions in the Middle East kept oil prices elevated, sustaining inflation concerns and reinforcing the case for a more restrictive stance. The fragile backdrop also sustains demand for the currency as a safe-haven asset.
Attention turns to producer prices on Thursday and consumer price figures on Friday. A firmer core reading could reinforce expectations of an interest rate increase in September, extend the rise in yields and support the dollar. In contrast, a weaker reading could prompt traders to reduce their bets on an interest rate hike and weigh on the dollar and yields.
Meanwhile, the European Central Bank is set to announce its monetary policy decision on Thursday. An interest rate hike is widely expected, and hawkish guidance could weigh on the dollar. Additionally, the prospect of tightening from the Bank of Japan could add pressure on the US currency.
Appreciate yourcooperation in publishing the analysis.
For any inquiry or more information please do not hesitate to contact us.
Regards
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment