The dollar is stronger today. Recommends to keep an eye on economic data – central bank meeting
New York Money Market Conditions: Dollar Strengthens Keep an eye on economic data – central bank meeting
The US dollar strengthened against major currencies in trading at the New York Stock Exchange as investors watched economic data. and several central bank monetary policy meetings this week.
The dollar index, which measures the dollar’s movements against six major currencies in a basket of currencies, was up 0.18% to 93.8157 overnight.
The US dollar strengthened against the yen to 113.70 yen from 113.43 yen and strengthened against the Swiss franc to 0.9195 francs from 0.9162 francs. with the Canadian dollar at 1.2385 Canadian dollars from 1.2366 Canadian dollars.
The euro was lower against the dollar to $1.1612 from $1.1636, while the pound rose to $1.3769 from $1.3755, and the Australian dollar rose to $0.7493 from $0.7465.
The United States will release its third-quarter gross domestic product (GDP) figures on Thursday. If such numbers indicate a slowdown in the US economy. It will reduce pressure on the Federal Reserve (Fed) to cut the amount of its bond-buying program following the quantitative easing (QE) and interest rate hikes.
Investors are also keeping an eye on the Monetary Policy Meeting of the Bank of Japan (BOJ), European Central Bank (ECB) and Bank of Canada this week. The Fed will hold its meeting on Nov 2-3.
Other US economic data scheduled to be released this week include: August house price index from S&P/Kase-Shiller, September new home sales, Conference Board consumer confidence index October, durable goods orders. September, weekly unemployment claims, September pending home sales contracts, September personal income and expenses, index Personal Consumption Expenditure (PCE) Prices for September and the October Consumer Confidence Index from the University of Michigan.
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