The dollar edged higher Tuesday, rebounding from a one-month low although gains are small ahead of the release of key economic data and next week’s Federal Reserve meeting. The dollar was hit late last week following comments by Federal Reserve Chair Jerome Powell stating that it’s not yet time to begin raising U.S. interest rates. The Fed has now gone into a blackout period ahead of next week’s policy-setting meeting, an eagerly-anticipated gathering where the central bank is expected to confirm the start of the withdrawal of its bond-buying stimulus.
How a post-pandemic budget will balance cutting national debt with key spending allocations.
The UK housing market is on track to record its strongest year since 2007.
It’s a particularly quiet day ahead on the economic calendar. U.S consumer confidence figures will draw plenty of interest later in the day, however.
Revenue at the file-sharing platform rose 26% to €65m (£55m, $75m) last year, while increasing by 64% to €45m in the first half of 2021, it said on Monday.
The Euro has initially tried to rally during the trading session on Monday, but then slammed into the 1.16 level.
The direction of the EUR/USD into the close on Monday is likely to be determined by trader reaction to 1.1597.
The move will take the group's total number of sites to 200, and create 1,250 jobs.
Investment in these assets has the potential to generate better returns for investors, including those saving for retirement in defined contribution pension schemes.
EUR/USD is testing the resistance level at 1.1660.
The direction of the December U.S. Dollar Index on Monday is likely to be determined by trader reaction to 93.580.
The dollar edged lower Monday, trading near one-month lows as investors continue to assess the likelihood of U.S. rate hikes in the near term, while the Turkish lira slumped following a surprise rate cut and heightened political tension. Weighing on the dollar were comments from Federal Reserve Chair Jerome Powell on Friday indicating that it’s not yet time to begin raising interest rates. The central bank is widely expected to begin reining in its bond-buying program next month, but investors have also priced in Fed rate hikes starting in the second half of next year.
German business sentiment figures put the EUR in focus, with BoE member chatter leaving the Pound in the hands of any forward guidance.
Croatia's conservative and eurosceptic party Hrvatski Suverenisti (Croatian Sovereignists) began a two-week drive on Sunday to collect signatures in a bid to force a referendum on whether to adopt the euro as the country's currency. The centre-right government, led by Prime Minister Andrej Plenkovic, is working to achieve euro adoption from the beginning of 2023 and hopes to get a green light from the euro zone in the first half of 2022. According to a opinion poll released in July, a bit over 60% of voters favour adopting the common currency, which is used by 19 of the 27 EU members.
It’s another busy week ahead on the economic calendar. While the stats will provide plenty of direction, the BoC and the ECB will be delivering policy decisions in the week. Transitory or alarming?