By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Today in the Forex Market: The US Dollar Makes Modest Recovery, Anticipated Release of Key Data.
Share
Notification Show More
Recent Saved
Workers in Bucharest face challenges as temperatures rise
World
Dress code guidelines for the Qatari government sector during office hours
Qatar
Court rules in favor of worker after company dismisses him for salary deductions over 6 years, awarding BD 27,000.
Bahrain
UAE to See Almost 30,000 New Millionaires in 5 Years
UAE
Proposed New Labor Law in Bahrain Targets Increasing Job Opportunities
Bahrain
Latest News
Rasmala Delivers Robotics-Enabled Logistics Facility in the Netherlands
Gulf
Marathon Des Sables confirms Jordan as the 2025 venue for the fifth year in a row
Gulf
Explore the Future: “Forum Moscow 2030. Territory of the Future” Invites Young UAE Visitors to Experience Innovation, Creativity, and Urban Adventure
Gulf
Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > Today in the Forex Market: The US Dollar Makes Modest Recovery, Anticipated Release of Key Data.
Forex

Today in the Forex Market: The US Dollar Makes Modest Recovery, Anticipated Release of Key Data.

News Room
Last updated: 2024/07/16 at 7:58 AM
News Room
Share
3 Min Read
SHARE

The US Dollar Index edged higher early on Tuesday following a previous week of sharp declines. The week ahead includes key economic data such as the Export Price Index, Import Price Index, and Retail Sales in the US. Additionally, Statistics Canada will be releasing the June Consumer Price Index figures during the American session.

The US Dollar showed strength against major currencies this week, with the largest gains seen against the New Zealand Dollar. The dollar’s performance against other currencies can be seen in the table provided, showing percentage changes of the USD against the Euro, British Pound, Japanese Yen, Canadian Dollar, Australian Dollar, New Zealand Dollar, and Swiss Franc.

The cautious market mood at the start of the week helped the USD to stay resilient against its rivals. Federal Reserve Chairman Jerome Powell’s comments regarding a potential rate cut in September further supported the currency. The dollar index edged higher towards 104.50 in the European session, with US stock index futures also trading slightly higher.

In relation to other currencies, USD/CAD started the week on a bullish note, while EUR/USD climbed to its highest level since late March but failed to sustain momentum. GBP/USD experienced a correction after hitting 1.3000, while Gold prices began to rise again. USD/JPY closed the first day of the week unchanged but saw gains early on Tuesday.

In terms of inflation FAQs, it is important to understand how inflation is measured and its impact on currencies. Inflation measures the rise in the price of goods and services over time, with core inflation excluding volatile elements such as food and fuel. The Consumer Price Index (CPI) measures changes in prices of goods and services, with Core CPI being targeted by central banks. High inflation can lead to higher interest rates and a stronger currency, while lower inflation can have the opposite effect.

Traditionally, Gold was seen as a safe-haven asset during times of high inflation. However, central banks raising interest rates to combat inflation can have a negative impact on Gold prices. Conversely, lower inflation tends to be positive for Gold as it brings interest rates down. Investors should carefully consider these factors when making investment decisions amid changing economic conditions.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room July 16, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article WCM-Q provides health professionals with skills in mixed-methods research
Next Article Bitcoin ETFs receive $300 million in investments as BTC price approaches $65,000
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Rasmala Delivers Robotics-Enabled Logistics Facility in the Netherlands
Gulf August 4, 2025
Marathon Des Sables confirms Jordan as the 2025 venue for the fifth year in a row
Gulf July 31, 2025
Explore the Future: “Forum Moscow 2030. Territory of the Future” Invites Young UAE Visitors to Experience Innovation, Creativity, and Urban Adventure
Gulf July 30, 2025
Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle July 14, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?