Dollar Cuts Losses
The US dollar index, initially experiencing losses, steadied around 100.8 on Friday and is poised to conclude the week with a 0.6% increase. Investor optimism was supported by the potential easing of US-China trade tensions and growing anticipation of interest rate cuts by the Federal Reserve. A series of mostly underwhelming economic indicators have strengthened the belief that the Fed has the capacity to reduce rates at least twice this year. Housing starts and building permits did not meet predictions, while export and import prices surprisingly increased. Earlier in the week, both consumer and producer inflation rates (CPI and PPI) were lower than forecasted, and retail sales disappointed. Moreover, the dollar is set for its fourth consecutive weekly gain against the euro.
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