Dollar near two-week lows ahead of US industrial data

2022-07-01 13:36:20 GMT (Economies.com)
Dollar near two-week lows ahead of US industrial data

Dollar rose in European trade against a basket of major rivals, edging near two-week highs ahead of important US industrial data for June on US growth. 

 

The Index

 

The dollar index rose over 0.4% to 105.21 from a session-low at 104.74. 

 

The dollar closed yesterday down 0.4%, the first decline in three days on active profit-taking off two-week highs at 105.54. 

 

Monthly Trading

 

The dollar is up 2.9% in June, heading for the fifth monthly profit in the last six months. 

 

The Fed took a historic decision this month to hike rates by 0.75% to 1.75%, the highest hike since 1994.

 

The decision came on commitment to fight runaway inflation, which hit 1981 highs in May, in turn boosting dollar's standing. 

 

Data

 

Now markets await US data on the ISM manufacturing PMI to measure economical growth in the second quarter, with the index expected down at 54.6 in June from 56.1 in May. 

 
 
 
  Symbol Last Change Chg.%
1.0207
0.0009
0.0922%
1.2081
-0.0036
0.2988%
20.593
0.228
1.120%
90.015
1.537
1.737%
95.88
-0.86
0.89%
1784.560
2.885
0.162%
 
 
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