{"id":448,"date":"2023-04-25T10:14:48","date_gmt":"2023-04-25T07:14:48","guid":{"rendered":"https:\/\/invest24world.com\/?p=448"},"modified":"2023-04-25T10:16:18","modified_gmt":"2023-04-25T07:16:18","slug":"dollar-weakens-euro-gains-ahead-of-central-bank-meetings","status":"publish","type":"post","link":"https:\/\/22-preview.freshtone.ru\/fr\/dollar-weakens-euro-gains-ahead-of-central-bank-meetings\/","title":{"rendered":"Dollar weakens, euro gains ahead of central bank meetings"},"content":{"rendered":"<p><\/p>\r\n<p>The U.S. dollar was on the back foot in early European trade Tuesday, with traders positioning for a more hawkish stance from the European Central Bank than the Federal Reserve ahead of next week\u2019s policy-setting meetings.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p>At 02:50 ET (06:50 GMT), the\u00a0<a href=\"https:\/\/uk.investing.com\/indices\/usdollar\">dollar index<\/a>, which tracks the greenback against a basket of six other currencies, traded marginally lower at 101.070, close to a new 10-day low after falling 0.4% overnight.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p>The\u00a0<a href=\"https:\/\/uk.investing.com\/economic-calendar\/fed-interest-rate-decision-168\">U.S. Federal Reserve<\/a>\u00a0is widely expected to raise rates by another 25 basis points at next week&#8217;s policy-setting meeting, but expectations are growing that the central bank will start cutting interest rates later this year.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p>Economic data of late has pointed to a slowing U.S. economy, while news overnight of plunging deposits at\u00a0First Republic Bank\u00a0(NYSE:<a href=\"https:\/\/uk.investing.com\/equities\/first-republic-bank\">FRC<\/a>) highlighted the fragility of the country\u2019s banking system.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p>First-quarter U.S.\u00a0<a href=\"https:\/\/uk.investing.com\/economic-calendar\/gdp-375\">GDP<\/a>\u00a0data, due Thursday, is expected to show that growth slowed from the prior quarter, and it would take a sharp upward surprise from Friday\u2019s\u00a0<a href=\"https:\/\/uk.investing.com\/economic-calendar\/core-pce-price-index-61\">PCE price index<\/a>\u00a0&#8211; the Fed\u2019s preferred inflation gauge &#8211; to change the dovish narrative.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p>\u201cUnless Friday&#8217;s US March core PCE inflation markedly surprises above the consensus 0.3% month-on-month figure, expectations for one last Fed hike look locked in and we doubt the dollar needs to rally too much further,\u201d said analysts at ING, in a note.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p><a href=\"https:\/\/uk.investing.com\/currencies\/eur-usd\">EUR\/USD<\/a>\u00a0rose 0.1% to 1.1048, with a hefty 50 basis point hike remaining a live option at next week&#8217;s central bank meeting.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p><a href=\"https:\/\/uk.investing.com\/economic-calendar\/german-ifo-business-climate-index-132\">German business morale<\/a>\u00a0rose slightly in April, according to the Ifo institute\u2019s business climate index, released Monday, adding to hopes that Europe&#8217;s largest economy has managed to have dodged a winter\u00a0<a href=\"https:\/\/www.investing.com\/academy\/trading\/what-is-a-recession-how-to-prepare\/\" target=\"_blank\" rel=\"noreferrer noopener\">recession<\/a>.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p>Additionally, April inflation reports from the region\u2019s largest economies\u00a0<a href=\"https:\/\/uk.investing.com\/economic-calendar\/german-cpi-128\">Germany<\/a>,\u00a0<a href=\"https:\/\/uk.investing.com\/economic-calendar\/french-cpi-112\">France<\/a>, and\u00a0<a href=\"https:\/\/uk.investing.com\/economic-calendar\/spanish-cpi-961\">Spain<\/a>, due later this week, are likely to point to inflationary pressures remaining elevated.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p>This all points to the\u00a0<a href=\"https:\/\/uk.investing.com\/economic-calendar\/ecb-interest-rate-decision-164\">ECB<\/a>\u00a0hiking rates next week, with central bank board member Isabel Schnabel telling Politico that a 50 bps rate hike was not off the table and would depend on data.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p><a href=\"https:\/\/uk.investing.com\/currencies\/gbp-usd\">GBP\/USD<\/a>\u00a0fell 0.1% to 1.2473, drifting off a 10-day high hit earlier with the\u00a0<a href=\"https:\/\/uk.investing.com\/economic-calendar\/boe-interest-rate-decision-170\">Bank of England<\/a>\u00a0also expected to hike rates next week after\u00a0<a href=\"https:\/\/uk.investing.com\/economic-calendar\/cpi-67\">consumer prices<\/a>\u00a0rose 10.1% in March from a year earlier, driven by the strongest increase in food costs in more than four decades.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p><a href=\"https:\/\/uk.investing.com\/currencies\/aud-usd\">AUD\/USD<\/a>\u00a0dropped 0.2% to 0.6681 ahead of Wednesday\u2019s\u00a0<a href=\"https:\/\/uk.investing.com\/economic-calendar\/cpi-1011\">Australian CPI<\/a>\u00a0data, while\u00a0<a href=\"https:\/\/uk.investing.com\/currencies\/usd-jpy\">USD\/JPY<\/a>\u00a0traded flat at 134.22, ahead of new Governor Kazuo Ueda\u2019s first policy meeting in charge of the\u00a0<a href=\"https:\/\/uk.investing.com\/economic-calendar\/boj-monetary-policy-statement-1669\">Bank of Japan<\/a>.<\/p>\r\n<p><\/p>\r\n<p><\/p>\r\n<p>Source: https:\/\/uk.investing.com\/news\/forex-news\/dollar-weakens-euro-gains-ahead-of-central-bank-meetings-2995430<\/p>\r\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>The U.S. dollar was on the back foot in early European trade Tuesday, with traders positioning for a more hawkish stance from the European Central Bank than the Federal Reserve ahead of next week\u2019s policy-setting meetings. At 02:50 ET (06:50 GMT), the\u00a0dollar index, which tracks the greenback against a basket of six other currencies, traded [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpautop"],"translation":{"provider":"WPGlobus","version":"2.10.10","language":"fr","enabled_languages":["en","nl","es","sv","fr"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"nl":{"title":false,"content":false,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"sv":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false}}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Dollar weakens, euro gains ahead of central bank meetings - 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