The dollar index continues to grow, reaching two-month highs and approaching 104.0. This growth is due to investors' expectations that the US Federal Reserve will maintain a cautious position on lowering interest rates. Recent economic data show the stability of the American economy, and inflation is decreasing smoothly. At the same time, the euro continues to weaken after the recent decision of the European Central Bank to cut key interest rates. The situation is aggravated by weak inflation data in Germany, indicating a slowdown in economic growth in the eurozone. The Chinese yuan also weakened against the dollar, returning to 1.5-month highs at 7,125. Against the background of the upcoming US elections, investors predict a different dollar exchange rate depending on the results of the US elections. Historically, the Republican presidency is associated first with a strong and then a weakening dollar, while Democratic presidents, on the contrary, usually start with a weak dollar, which then strengthens. In the near future, attention will be focused on the publication of preliminary business activity indices (PMI) for the eurozone, which will provide updated information on economic indicators in October.
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