U.S. Dollar Drops Amid Rate Cut Hopes
17 Julho 2024 - 10:19AM
RTTF2
The U.S. dollar moved down against its major counterparts in the
New York session on Wednesday, amid increasing expectations of a
potential rate cut in September.
In an interview with the Wall Street Journal, New York Fed
President John Williams indicated that recent inflation readings
are getting the policy makers closer to a disinflationary trend
that they are looking for.
"I feel like the stance of policy right now is working well," he
added.
On Monday, Fed Chair Jerome Powell said the three inflation
readings over the second quarter of this year provided policymakers
greater confidence that the pace of price increases is returning to
the central bank's 2 percent target.
Investors are fully pricing in a 25 basis point cut in
September.
In economic news, the Commerce Department released a report
showing a significant rebound by new residential construction in
the U.S. in the month of June.
The report said housing starts shot up by 3.0 percent to an
annual rate of 1.353 million in June after plunging by 4.6 percent
to a revised rate of 1.314 million in May.
Economists had expected housing starts to jump by 2.6 percent to
a rate of 1.310 million from the 1.277 million originally reported
for the previous month.
The greenback fell to multi-week lows of 0.8835 against the
franc and 156.09 against the yen, off its early highs of 0.8944 and
158.62, respectively. The greenback is seen finding support around
0.87 against the franc and 147.00 against the yen.
The greenback declined more than a 4-month low of 1.0948 against
the euro and a 1-year low of 1.3044 against the pound, from its
early highs of 1.0895 and 1.2963, respectively. The greenback is
likely to challenge support around 1.10 against the euro and 1.31
against the pound.
In contrast, the greenback rose to 0.6720 against the aussie and
1.3696 against the loonie, from an early low of 0.6754 and a 2-day
low of 1.3656, respectively. The currency is likely to locate
resistance around 0.64 against the aussie and 1.38 against the
loonie.
The greenback rebounded to 0.6068 against the kiwi, from an
early 2-day low of 0.6097. This may be compared to a previous more
than 2-month high of 0.6033. If the currency rises further, it is
likely to test resistance around the 0.58 region.
Euro vs US Dollar (FX:EURUSD)
Gráfico Histórico de Câmbio
De Set 2024 até Out 2024
Euro vs US Dollar (FX:EURUSD)
Gráfico Histórico de Câmbio
De Out 2023 até Out 2024