July 14, 2024

Strengthens the dollar, driven by U.S. retail by Estado content

2 min read
Moedas: dólar se fortalece, impulsionado por vendas no varejo dos EUA
Moedas: dólar se fortalece, impulsionado por vendas no varejo dos EUA
© Reuters. Currencies: The dollar strengthens, driven by US retail

The index, which measures against the basket of other strong currencies, was appreciated today, boosted by the progress of the United States. Also on Thursday, the 16 reached a three-week low against the dollar, amid reports of the strength of the US currency and the European Central Bank (ECB).

In New York, the dollar was at 109.73 in the afternoon, while the euro was at $ 1.1765 and $ 1.3789. DXY advanced 0.41% to 92.932 points.

The dollar had already risen that day, but gained more momentum in August after US retail sales rose 0.7% compared to July, contrary to analysts’ forecasts of a fall. The Western Union commented that the data strengthens the argument that the Federal Reserve (Fed, US Federal Reserve) will soon begin to reduce its bond purchases (“tapping”), which tends to support the US currency.

In Europe, ECB President Christine argued that financial and monetary support was still needed to continue the eurozone recovery. In an interview today, he expressed optimism about the recovery, but highlighted challenges such as epidemics and the recent rise in inequality. In addition, criticized Cryptocurrencies “High speculation” assets.

A report by the Capital Economy states that risks associated with China’s housing sector may recede against the dollar, even if risks to financial stability do not increase. As for advice, the currencies of some economies that have strong ties with China may also come under pressure in this context.

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