{"id":33519,"date":"2023-07-10T04:01:01","date_gmt":"2023-07-10T08:01:01","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/dollar-rebounds-after-fridays-sharp-losses-u-s-cpi-in-focus\/"},"modified":"2023-07-10T04:01:03","modified_gmt":"2023-07-10T08:01:03","slug":"dollar-rebounds-after-fridays-sharp-losses-u-s-cpi-in-focus","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=33519","title":{"rendered":"Dollar rebounds after Friday’s sharp losses; U.S. CPI in focus"},"content":{"rendered":"
\n

Investing.com – The U.S. dollar gained in early European hours Monday, recovering some of Friday\u2019s sharp losses after the weak payrolls release, while disappointing Chinese inflation data weighed on the yuan.<\/p>\n

At 03:10 ET (07:10 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.1% higher to 102.020, after falling around 1% on Friday.<\/p>\n

Weak payrolls weighed on dollar; CPI due Wednesday<\/strong><\/h2>\n

The dollar slumped on Friday after the release of the monthly employment report which showed U.S. job gains were the smallest in two-and-a-half years, raising doubts about how much higher the Federal Reserve will need to take interest rates to slow the economy enough to impact inflation.<\/p>\n

increased 209,000 in June, missing market expectations for the first time in 15 months.<\/p>\n

However, the dollar has rebounded somewhat Monday, as traders reassessed the data, noting that the employment report still recorded strong wage growth, a big factor driving inflation.<\/p>\n

Attention will now turn to Wednesday\u2019s release for June, which is expected to show that the index rising at the slowest annual increase since March 2021.<\/p>\n

\u201cThe big risk event for the dollar this week is the June inflation report on Wednesday,\u201d said analysts at ING, in a note. \u201cOur economist expects a consensus 0.3% month-on-month core read, which should keep providing encouraging news on the disinflationary story \u2013 but should still fall short of tweaking the Fed narrative or convincing markets to price out a July hike.\u201d<\/p>\n

Additionally, several Fed officials are due to speak during the week, including Minneapolis Fed president , Cleveland Fed President , San Francisco Fed president and Fed Governor .<\/p>\n

China\u2019s inflation numbers disappoint<\/strong><\/h2>\n

rose 0.2% to 7.2354, with the yuan weakening to levels last seen late last year after data released earlier showed that China’s fell at the fastest pace in seven-and-a-half years in June and fell 0.2% on the month.<\/p>\n

This data adds to evidence that the world\u2019s second-largest economy is struggling to recover from its COVID hit, fuelling hopes for further support measures from Chinese authorities.<\/p>\n

Elsewhere, fell 0.1% to 1.0962, dropped 0.1% to 1.2820, after having surged to a more than one-year peak of 1.2850 on Friday, rose 0.3% to 142.47, having fallen nearly 1.3% late last week, while , often seen as a proxy for the Chinese currency, dropped 0.5% to 0.6655.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com – The U.S. dollar gained in early European hours Monday, recovering some of Friday\u2019s sharp losses after the weak payrolls release, while disappointing Chinese inflation data weighed on the yuan. At 03:10 ET (07:10 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.1% higher to 102.020, after […]<\/p>\n","protected":false},"author":1,"featured_media":10185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-33519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nDollar rebounds after Friday's sharp losses; U.S. CPI in focus | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com - The U.S. dollar gained in early European hours Monday, recovering some of Friday\u2019s sharp losses after the weak payrolls release, while\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=33519\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar rebounds after Friday's sharp losses; 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