{"id":679,"date":"2023-07-06T13:58:32","date_gmt":"2023-07-06T10:58:32","guid":{"rendered":"https:\/\/invest24world.com\/?p=679"},"modified":"2023-07-06T13:59:18","modified_gmt":"2023-07-06T10:59:18","slug":"dollar-retreats-after-strong-fed-inspired-gains","status":"publish","type":"post","link":"https:\/\/22-preview.freshtone.ru\/nl\/dollar-retreats-after-strong-fed-inspired-gains\/","title":{"rendered":"Dollar retreats after strong Fed-inspired gains"},"content":{"rendered":"\r\n<p>The U.S. dollar edged lower in early European hours Thursday, handing back some of its overnight gains after the minutes from the Federal Reserve&#8217;s last meeting pointed to another rate hike later this month.<\/p>\r\n\r\n\r\n\r\n<p>\u00a0 At 02:55 ET (06:55 GMT), the\u00a0<a href=\"https:\/\/www.investing.com\/indices\/usdollar\">Dollar Index<\/a>, which tracks the greenback against a basket of six other currencies, traded 0.1% lower to 102.945, after rising 0.5% overnight.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><strong>Fed minutes firm rate hike expectations<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>\u00a0 The Fed\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/fomc-meeting-minutes-108\">minutes<\/a>, released on Wednesday, showed that almost all members of the central bank supported more\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/fed-interest-rate-decision-168\">rate hikes<\/a>\u00a0in the coming months, citing stubborn\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/cpi-733\">inflation<\/a>\u00a0and an overheated labor market.<\/p>\r\n\r\n\r\n\r\n<p>\u00a0 This has raised expectations for an increase at the Fed\u2019s next meeting later this month, boosting the dollar.<\/p>\r\n\r\n\r\n\r\n<p>\u00a0 &#8220;We see room for a dollar rebound in the near term. The U.S. economy looks in better shape than Europe and Asia, which suggests &#8216;higher for longer&#8217; is somewhat more credible coming from the Fed than most others,&#8221; said Jonas Goltermann, an economist at Capital Economics.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><strong>German factory orders jump<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>\u00a0 <a href=\"https:\/\/www.investing.com\/currencies\/eur-usd\">EUR\/USD<\/a>\u00a0rose 0.1% to 1.0865, helped by data showing\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/german-factory-orders-130\">German industrial orders<\/a>\u00a0rose significantly more than expected in May, climbing by 6.4% on the month, significantly better than the predicted 1.2% increase.<\/p>\r\n\r\n\r\n\r\n<p>\u00a0 The\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/ecb-interest-rate-decision-164\">European Central Bank<\/a>\u00a0is widely expected to increase interest rates again later this month, and Governing Council member Joachim Nagel said earlier this week that further hikes are likely even though decisions remain data-dependent.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><strong>Yuan near eight-month low<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>\u00a0 <a href=\"https:\/\/www.investing.com\/currencies\/usd-cny\">USD\/CNY<\/a>\u00a0traded largely unchanged at 7.2472, with the yuan remaining just shy of an eight-month low after data this week showed that Chinese business activity deteriorated for a third straight month in June.<\/p>\r\n\r\n\r\n\r\n<p>\u00a0 Also weighing on the Chinese currency were concerns over worsening trade relations between Washington and Beijing, as the two economic superpowers battle for dominance in the field of semiconductor chips.<\/p>\r\n\r\n\r\n\r\n<p>\u00a0 Elsewhere,\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/gbp-usd\">GBP\/USD<\/a>\u00a0traded flat at 1.2704, while\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-jpy\">USD\/JPY<\/a>\u00a0fell 0.6% to 143.76, amid continued speculation over government intervention in currency markets, and\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/aud-usd\">AUD\/USD<\/a>\u00a0rose 0.4% to 0.6678, helped by stronger-than-expected\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/trade-balance-291\">trade data<\/a>\u00a0for May.<\/p>\r\n\r\n\r\n\r\n<p>\u00a0 Source: https:\/\/www.investing.com\/news\/forex-news\/dollar-retreats-after-strong-fedinspired-gains-3120342<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>The U.S. dollar edged lower in early European hours Thursday, handing back some of its overnight gains after the minutes from the Federal Reserve&#8217;s last meeting pointed to another rate hike later this month. \u00a0 At 02:55 ET (06:55 GMT), the\u00a0Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpautop"],"translation":{"provider":"WPGlobus","version":"2.10.10","language":"nl","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 - 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