Daily Insight -- USD recovers losses
​The US dollar hit new 13-month lows after the Federal Reserve said on Wednesday that inflation remains below its 2% target even as near-term risks to the economic outlook appear "roughly balanced". This sparked fresh uncertainty over the possibility of another interest rate hike this year. The DXY index was 94.24 ahead of the Fed statement, but fell 0.9% to 93.44 after the report was released. The USD recovered some losses on Thursday as investors found it too undervalued after Wednesday's plunge. Mixed US statistics also supported the US currency. Orders for durable goods increased by a seasonally adjusted 6.5% in June, beating the forecast of 3% growth. On the other hand, initial jobless claims rose by 10,000 to 244,000, while analysts expected growth of 7,000 claims. As a result, on Thursday the DXY index rose 0.2% to 93.86.
ICU IS A FINANCIAL SERVICES GROUP PROVIDING SECURITIES TRADING, INVESTMENT BANKING AND ASSET MANAGEMENT FOR PRIVATE AND INSTITUTIONAL INVESTORS.
More information about ICU you can find at https://www.icu.ua/
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.