Dollar edges higher ahead of retail sales, speeches by Fed officials
Investing.com - The U.S. dollar edged higher Tuesday ahead of key retail sales data and speeches by Federal Reserve officials, as traders looked for clues to better gauge the timing and pace of interest rate cuts.
Investors are trying to work out when the Federal Reserve will start cutting interest rates, and thus will be studying the retail sales data for May, due later in the session."If all of it happens to be as forecasted, I think one rate cut would be appropriate by year's end," Harker said, after outlining his view that he sees slowing but above-trend economic growth, a modest rise in the unemployment rate, and a"long glide" back to target for inflation as his base case.
“However, we doubt this may happen before the 30 June first round parliamentary vote in France, and the euro should remain a laggard in any USD-negative dynamics.”for the eurozone is due later in the session, with the annual figure expected to be confirmed at 2.6%, an increase from 2.4% the previous month.fell 0.2% to 1.2679, ahead of the release of May U.K. CPI on Wednesday and the Bank of England's policy meeting the following day.
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