{"id":39695,"date":"2023-07-24T06:26:58","date_gmt":"2023-07-24T10:26:58","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/dollar-edges-lower-at-start-of-key-central-bank-week\/"},"modified":"2023-07-24T06:27:00","modified_gmt":"2023-07-24T10:27:00","slug":"dollar-edges-lower-at-start-of-key-central-bank-week","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=39695","title":{"rendered":"Dollar edges lower at start of key central bank week"},"content":{"rendered":"
\n

Investing.com – The U.S. dollar edged lower in early European hours Monday, but losses are minimal as traders await signals from a string of central bank meetings this week, with the Federal Reserve, in particular, in the spotlight.<\/p>\n

At 03:05 ET (07:05 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.2% lower at 100.645, well above a 15-month low hit earlier in July.<\/p>\n

Fed future guidance seen key<\/strong><\/h2>\n

The dollar gained over 1% last week after data showed the U.S. remained tight, creating some uncertainty over the path the Federal Reserve will guide towards on Wednesday.<\/p>\n

The is still widely expected to hike rates by 25 basis points, but whether it will signal more rate hikes this year remains to be seen, given that U.S. , while slowing, is still trending above the bank\u2019s annual target range.<\/p>\n

\u201cPrice action over the past week probably shows that a switch to the disinflation trade will not be easy and will require a constant drip feed of supporting evidence \u2013 be it softer price or weaker activity data,\u201d said analysts at ING, in a note.<\/p>\n

Euro edges higher; Lagarde\u2019s comments seen key<\/strong><\/h2>\n

rose 0.2% to 1.1141, with Thursday\u2019s meeting set to also result in an increase of 25 basis points.<\/p>\n

Again, with such a hike largely priced in, it\u2019s the associated comments from ECB President that the market is waiting for, in particular, the signal she sends for the September meeting with still considerably above the central bank\u2019s target.<\/p>\n

and PMI data for the eurozone are scheduled for release later in the session and should provide clues as to the health of the region\u2019s economy.<\/p>\n

Japanese yen rebounds ahead of BOJ meeting<\/strong><\/h2>\n

fell 0.3% to 141.39, with the yen recovering to a degree from steep losses last week ahead of Friday\u2019s policy meeting.<\/p>\n

The BOJ has given scant indication that it plans to tighten its ultra-loose policy in the near term and is widely expected to stand pat on and its yield curve control measures this Friday.<\/p>\n

The Japanese Government said on Monday that inflation is likely to moderate further this year, before slowing to around 1.5% next year when stripping away the effect of one-off factors.<\/p>\n

Elsewhere, rose 0.2% to 1.2879, helped by last week\u2019s strong retail sales data, rose 0.1% to 0.6739, inching up on the prospect of more stimulus measures in China given the importance of that market to the Australian export market, while rose 0.1% to 7.1943.<\/p>\n<\/div>\n

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

Investing.com – The U.S. dollar edged lower in early European hours Monday, but losses are minimal as traders await signals from a string of central bank meetings this week, with the Federal Reserve, in particular, in the spotlight. At 03:05 ET (07:05 GMT), the , which tracks the greenback against a basket of six other […]<\/p>\n","protected":false},"author":1,"featured_media":39696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-39695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nDollar edges lower at start of key central bank week | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com - The U.S. dollar edged lower in early European hours Monday, but losses are minimal as traders await signals from a string of central bank\" \/>\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=39695\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar edges lower at start of key central bank week | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Investing.com - 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