The dollar index held below 99 on Tuesday, trading at five-week lows as growing concerns over the US fiscal outlook and shifting trade policies undermined investor confidence in US assets.
Market attention is now focused on upcoming Senate debates over Trump's sweeping tax cut and spending bill, which is expected to significantly expand the national debt.
According to the Congressional Budget Office, the proposed measures could add approximately $3.8 trillion to the federal government's $36.2 trillion debt over the next decade.
On the trade front, Trump's decision to postpone the imposition of 50% tariffs on European Union imports until July 9 just days after announcing they would take effect on June 1 further contributed to dollar weakness.
The move boosted the euro to a one-month high, putting additional downward pressure on the greenback. Investors are also bracing for key US economic data due Tuesday, as well as fresh remarks from Federal Reserve officials Kashkari and Williams.
Source: Trading Economi
The US dollar (USD) traded with positive sentiment for the second consecutive day on Friday (July 25th), driven by upbeat US economic data and renewed optimism about trade. On Thursday, better-than-ex...
The dollar inched off two-week lows on Friday, but kept on track for its biggest weekly drop in a month, as investors contended with U.S. tariff negotiations before an August 1 deadline, while looking...
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades in positive territory for the second consecutive day around 97.55 duri...
The US dollar index slipped toward 97 on Thursday, nearing a three-week low, as progress in trade talks with major partners lifted rival currencies. Reports indicated that the US and EU are moving clo...
The US dollar (USD) stabilized on Wednesday (July 23rd) after a sharp three-day decline. Traders appeared to be taking a breather as global trade tensions eased slightly after the US and Japan reached...
The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq 100 gained 0.2% after hitting an intraday high. The Dow Jones Industrial Average gained 208 points as...
Oil prices weakened on Friday (July 25th) and closed at a three-week low as traders worried about negative economic news from the US and China and signs of increasing supply. The losses were limited by optimism that a US trade deal could boost...
Gold prices weakened on Friday, weighed down by a stronger U.S. dollar and signs of progress in U.S.-EU trade negotiations, which have dampened demand for safe-haven assets. Spot gold fell 0.9% to $3,336.01 an ounce at 2:01 PM ET (18:01 GMT). U.S....
European stocks closed mostly lower on Friday (July 25th) as markets continued to monitor the latest corporate earnings reports while awaiting the...
Initial jobless claims in the US fell by 4,000 from the previous week to 217,000 in the third week of July, well under market expectations that they...
Asia-Pacific markets traded lower as investors weigh recent trade developments.
Asia markets started the trading day lower.
Japan's benchmark...
U.S. business activity expanded at a faster pace in July as services-sector firms shrugged off concerns over government policies, though...