USD strengthens as markets await US economic data

The dollar rose against the euro and the Japanese yen on Monday as traders remained cautious ahead of a busy week of delayed U.S. economic data, Reuters reported.

The market is still trading in a narrow range. The euro fell 0.31% against the dollar to 1.1585 USD, while the Japanese yen fell 0.44% to 155.20 JPY per USD.

The USD index, which measures the greenback's strength against a basket of currencies, rose 0.25% to 99.57.

The pound fell 0.19% to $1.3150. British assets were volatile last Friday amid speculation surrounding the government 's November 26 budget.

The safe-haven Swiss franc fell from a one-month peak to stand at 0.7962 CHF/USD, after being supported last week by uncertainty from a global stock sell-off.

The market has reacted rather dimly to US President Donald Trump's decision to "turn around" the tariffs imposed on more than 200 food products. Some analysts said that this move was not surprising because the tariffs had put pressure on cost of living

Job A series of economic data releases delayed by the US government shutdown will be released. Restarting this week, providing more clues Concerns about the health of the world's largest economy, notably the September non- farm payrolls report - scheduled for release on Thursday, November 20.

Uto Shinohara, senior investment strategist at Mesirow Currency Management, said that after the government reopened, the market turned to the Fed's meeting minutes and labor market data for more clues about the Fed's interest rate decision in December.

Despite recent private sector data showing continued weakness in the US economy, investors have reduced expectations for a Fed rate cut next month, saying gaps in economic data could slow or derail the easing process.

Markets now predict a less than 40% chance of the Fed cutting rates by 25 basis points in December, down from more than 60% earlier this month.

However, Goldman Sachs currency analysts warn that the upcoming figures will be of limited value, and the upcoming jobs report is unlikely to end debate over the economic outlook.

However, in the medium term, the analysts believe that the data will show enough information about the labor market to end the ongoing debate within the Fed's interest rate-setting committee (FOMC).

Quang Trung

Source: https://baoninhbinh.org.vn/dong-usd-manh-len-khi-thi-truong-cho-so-lieu-kinh-te-my-251118103937350.html