Dollar Slightly Down as Investors Digest Economic Data and Fed Signals
The dollar index dipped to 104.1 on Tuesday, though it stayed close to a three-week high as market participants assessed economic indicators, Federal Reserve statements, and possible tariff effects. The latest CB consumer confidence report revealed a marked four-month decline in morale as of March, with future expectations plummeting to a 12-year low and financial outlooks reaching their weakest point since July 2022. Conversely, data from Monday suggested an uptick in U.S. business activity for March, driven by a significant recovery in services, even as manufacturing continued to struggle. On the monetary policy front, Fed Governor Kugler noted that while policy settings remain stringent, progress toward the 2% inflation target has decelerated, describing the rise in goods inflation as "unhelpful." Additionally, recent comments from President Trump have fueled optimism for a more focused tariff approach, alleviating concerns over widespread economic disruption.
The material has been provided by - RobotFX
No comments:
Post a Comment