empty
 
 

03.02.202601:59:37UTC+00Dollar Holds Firm on Shifting Fed View

On Tuesday, the dollar index stabilized around 97.5 following a significant two-day rally. This stability was underpinned by robust U.S. economic data and evolving perceptions of Federal Reserve policy. Recent data, released on Monday, revealed an unexpected growth in U.S. manufacturing activity, suggesting solid economic health and corporate profitability. Market participants are now focusing on the monthly jobs report anticipated on Friday, although its publication could face delays due to a partial government shutdown. The dollar's recent appreciation commenced on Friday after President Donald Trump nominated Kevin Warsh as a potential successor for Federal Reserve Governor Jerome Powell. Investors perceive Warsh as a relatively hawkish choice, likely to support lower interest rates, though not as aggressively as other contenders might. In a different development, Trump unveiled a trade agreement with India aimed at reducing tariffs for both countries in return for New Delhi ceasing its purchases of Russian oil. Concurrently, the dollar softened against currencies from the Australasian region in anticipation of an upcoming rate hike by the Reserve Bank of Australia.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In February we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback