Today on Tuesday (July 5th), the euro and the dollar opened at 1.0422, and closed at 1.0423 yesterday. So far, the highest has touched 1.0436 and the lowest has been 1.0417. Temporarily reported 1.0432, an increase of 0.08%. The British pound was temporarily reported at 1.2109, an increase of 0.06%; the Canadian dollar was temporarily reported at 0.7779, an increase of 0.11%.
In early Asian trading on July 5, Beijing time, the us dollar index fell slightly and is currently trading around 105.10. Fears of a global recession have kept the dollar higher, even as markets have tempered expectations for higher U.S. interest rates. Markets are now pricing in about an 85% chance of another 75 basis point rate hike by the Fed this month, with rates expected to hit 3.25% to 3.5% by the end of the year and a rate cut in 2023.
The euro and sterling rose against safe-haven currencies on Monday , supported by an improving global risk sentiment amid thin trading due to the U.S. holiday
EUR/USD closed down 0.09% at $1.0417 on Monday, barely holding above a five-year low of $1.0349 hit in May, while GBPUSD closed up 0.06% on Monday after hitting a two-week low of $1.1976 on Friday. 1.2099.
In a quiet start to the week, the dollar weakened against most major currencies, giving back Friday’s gains,” said Shaun Osborne, chief currency strategist at Scotiabank .
But the euro remained near five-year lows against the dollar amid fears of a global recession.
EURUSD
The euro fluctuated and consolidated yesterday, the daily line closed down slightly, and the exchange rates trading around 1.0430. In addition to the fact that the U.S. dollar index continued to rise under the support of the hawkish remarks of the fed officials and the inability to aggregate the market’s risk aversion sentiment, the exchange rate was suppressed to a certain extent. Investors’ expectations that the European Central Bank will only raise interest rates by 25 points in July also Constitute a certain pressure on the exchange rate. In addition, the weak economic data released by the euro zone during the period also weighed on the exchange rate to a certain extent. Today, we are concerned about the pressure situation near 1.0500, and the bottom support is near 1.0350.