Forex News

US dollar little changed after hitting a 2-week high against the euro

2024.09.03 19:13

US dollar little changed after hitting a 2-week high against the euro

The U.S. dollar reached a two-week peak compared to the euro, with investors preparing for a week filled with crucial data, including the U.S. payrolls report due on Friday.

At 18:40 EST (22:40 GMT), was little changed at 1.1046 while the fell 0.1% to 145.31.

This jobs report is expected to have a major impact on the Federal Reserve’s decision, which is due September 18.

The anticipation of the payrolls data follows comments from Fed Chair Jerome Powell last month, signaling the onset of interest rate reductions due to concerns about a weakening labor market.

The likelihood of an interest rate cut at the Federal Reserve’s meeting is a focal point for investors. According to the , there is a 63% chance of a 25 basis point cut and a 37% chance of a 50 basis point reduction.

Overall, the market has factored in a total of 100 basis points in cuts for the entire year.

The euro experienced a decline, dropping 0.24% to $1.1043 against the dollar on Tuesday. It had earlier touched a two-week trough, falling to $1.1033 during the trading session.

Amidst a broader sell-off in stocks and riskier currencies on Tuesday, the dollar, traditionally seen as a safe-haven asset, also seemed to gain from investors’ flight to safety.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 103,152.64 2.02%
ethereum
Ethereum (ETH) $ 2,339.06 14.36%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.36 5.56%
bnb
BNB (BNB) $ 636.10 2.82%
solana
Solana (SOL) $ 171.68 7.96%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.205357 8.00%
cardano
Cardano (ADA) $ 0.785412 7.30%
tron
TRON (TRX) $ 0.262783 3.06%
staked-ether
Lido Staked Ether (STETH) $ 2,337.22 14.54%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 103,314.68 2.11%
sui
Sui (SUI) $ 3.92 0.12%
chainlink
Chainlink (LINK) $ 16.05 5.20%
avalanche-2
Avalanche (AVAX) $ 23.37 9.89%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,809.80 14.23%
stellar
Stellar (XLM) $ 0.296461 5.13%
shiba-inu
Shiba Inu (SHIB) $ 0.000015 7.77%
hedera-hashgraph
Hedera (HBAR) $ 0.200966 5.63%
hyperliquid
Hyperliquid (HYPE) $ 24.93 13.80%
bitcoin-cash
Bitcoin Cash (BCH) $ 409.63 1.97%
the-open-network
Toncoin (TON) $ 3.27 2.17%
leo-token
LEO Token (LEO) $ 8.69 1.36%
usds
USDS (USDS) $ 1.00 0.01%
litecoin
Litecoin (LTC) $ 99.26 7.37%
polkadot
Polkadot (DOT) $ 4.84 12.92%
weth
WETH (WETH) $ 2,339.69 14.57%
monero
Monero (XMR) $ 308.61 5.22%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,491.83 14.06%
bitget-token
Bitget Token (BGB) $ 4.47 0.67%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.26%
pepe
Pepe (PEPE) $ 0.000012 21.35%
pi-network
Pi Network (PI) $ 0.724408 15.10%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.09%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 103,102.62 2.05%
whitebit
WhiteBIT Coin (WBT) $ 30.34 1.82%
uniswap
Uniswap (UNI) $ 6.36 15.20%
bittensor
Bittensor (TAO) $ 426.20 2.70%
near
NEAR Protocol (NEAR) $ 2.91 12.15%
dai
Dai (DAI) $ 1.00 0.02%
aptos
Aptos (APT) $ 5.55 6.17%
ondo-finance
Ondo (ONDO) $ 1.02 7.63%
okb
OKB (OKB) $ 53.53 2.11%
aave
Aave (AAVE) $ 209.90 10.22%
susds
sUSDS (SUSDS) $ 1.05 0.01%
ethereum-classic
Ethereum Classic (ETC) $ 19.22 8.62%
crypto-com-chain
Cronos (CRO) $ 0.101203 4.78%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
internet-computer
Internet Computer (ICP) $ 5.41 8.71%
official-trump
Official Trump (TRUMP) $ 14.05 13.25%