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USD Rises Again
The US dollar has been moving higher again over the European morning on Tuesday, extending gains seen overnight. The current strengthening comes despite increased expectations that the Fed will cut rates by .25% when it meets later this month, in line with dovish signaling seen in last week’s FOMC meeting minutes. The index trades 96.74 last as price turns back up toward the 97.10 level. Later today we have US retail sales which could prove market moving along with Fed Chairman Powell speaking later in the US session.
Euro Heads Lower
EURUSD has turned sharply lower this morning given the current spate of USD buying. Data has also added to EUR downside pressure today with both German and Eurozone ZEW surveys coming in lower than expected. Expectations that the ECB will also ease in the coming months are keeping EUR pressured with EURUSD trading 1.1238 last, turning back down towards the 1.1...
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