Posted 1/2/2024, 7:51:53 PM
Dollar Rises as Economic Data Points to Slowing Global Growth; Attention Turns to Fed Minutes
- US Dollar gained against major rivals on Tuesday due to signs of weak global growth
- Manufacturing PMIs for major economies indicated continued economic contraction
- EUR/USD dropped to 1.0940, GBP/USD trades near 1.2600, commodity currencies fell sharply
- US data releases on Wednesday include ISM Manufacturing PMI, JOLTS Job Openings, FOMC Minutes
- Markets reacted to Fed Chair Powell mentioning possible rate cuts at last policy meeting