{"id":34352,"date":"2025-06-03T10:22:34","date_gmt":"2025-06-03T10:22:34","guid":{"rendered":"https:\/\/onequity.com\/dollar-recovers-modestly-after-hitting-six-week-low-euro-drops-prior-to-ecb-meeting\/"},"modified":"2025-06-03T10:22:34","modified_gmt":"2025-06-03T10:22:34","slug":"dollar-recovers-modestly-after-hitting-six-week-low-euro-drops-prior-to-ecb-meeting","status":"publish","type":"post","link":"https:\/\/onequity.com\/pt\/dollar-recovers-modestly-after-hitting-six-week-low-euro-drops-prior-to-ecb-meeting\/","title":{"rendered":"Dollar Recovers Modestly After Hitting Six-Week Low, Euro Drops Prior to ECB Meeting"},"content":{"rendered":"\n

The U.S. dollar edged higher on Tuesday but remained close to its six-week low as growing uncertainty over trade policies clouded the outlook for the U.S. economy. Meanwhile, the euro weakened slightly ahead of key inflation data from the eurozone.<\/p>\n\n\n\n

As of 04:10 ET (08:10 GMT), the U.S. Dollar Index<\/a>\u2014which measures the greenback against a basket of six major currencies<\/a>\u2014rose 0.2% to 98.855. This came after the index fell to its lowest level since late April at the beginning of the week.<\/p>\n\n\n\n

Trade Tensions Undermine Economic Confidence<\/strong><\/h2>\n\n\n\n

Trade concerns continue to weigh on investor sentiment. According to Reuters, the Trump administration is pressing negotiating partners to submit their most favorable trade proposals by Wednesday. However, the looming doubling of tariffs<\/strong> on imported steel and aluminum to 50%<\/strong>\u2014also set for Wednesday\u2014signals that economic headwinds could intensify.<\/p>\n\n\n\n

\u201cYesterday\u2019s ISM manufacturing survey<\/strong> surprised to the downside, reversing the recent pattern of resilient U.S. data,\u201d analysts at ING noted. \u201cThe export component\u2019s drop to a five-year low may point to the impact of retaliatory tariffs, further burdening a manufacturing sector already strained by trade uncertainty and weaker consumer spending.\u201d<\/p>\n\n\n\n

Later in the session, the release of April\u2019s JOLTS report<\/strong> will draw attention, especially data on job openings and layoffs<\/strong>. Meanwhile, April\u2019s durable goods orders<\/strong> are also expected to show weakness. \u201cAnother round of soft data, particularly in the labor market, could push the dollar back toward its April lows,\u201d ING added.<\/p>\n\n\n\n

Euro Slips, Pound Gains on Robust UK Data<\/strong><\/h2>\n\n\n\n

EUR\/USD<\/strong> slipped 0.2% to 1.1415<\/strong>, retreating from a six-week high ahead of the flash inflation report<\/strong> for May. Analysts expect eurozone consumer prices to have slowed to an annual rate of 2.0%<\/strong>, down from April\u2019s unexpectedly high 2.2%<\/strong>, which could support a 25 basis-point interest rate cut<\/strong> by the European Central Bank (ECB)<\/strong> on Thursday.<\/p>\n\n\n\n

\u201cToday\u2019s CPI release is unlikely to alter expectations of a cut, but it may fuel speculation that President Lagarde will strike a more dovish tone,\u201d said ING.<\/p>\n\n\n\n

GBP\/USD<\/strong> also dipped 0.2% to 1.3518<\/strong> but remained supported by strong domestic data and cautious policy moves from the Bank of England<\/strong>. UK house prices rose 3.5% year-on-year<\/strong> in May, according to Nationwide<\/strong>, beating expectations. Monthly prices increased 0.5%<\/strong>, rebounding from April\u2019s decline and marking the biggest gain since December.<\/p>\n\n\n\n

Aussie Falls After Dovish RBA Minutes<\/strong><\/h2>\n\n\n\n

In Asia, AUD\/USD<\/strong> dropped 0.6% to 0.6460<\/strong> after the Reserve Bank of Australia\u2019s<\/strong> May meeting minutes reaffirmed its dovish stance. The central bank had already cut interest rates by 25 basis points<\/strong> in May, citing increasing risks from trade tariffs.<\/p>\n\n\n\n

Market sentiment was further dampened by a weak batch of Q1 economic data<\/strong>, including a larger-than-expected current account deficit<\/strong>. Attention now turns to Australia\u2019s Q1 GDP<\/strong> data, due Wednesday.<\/p>\n\n\n\n

Yen Retreats Slightly, Yuan Weakens Post-Holiday<\/strong><\/h2>\n\n\n\n

USD\/JPY<\/strong> rose 0.1% to 142.88<\/strong>, with the yen<\/strong> giving back some of its recent safe-haven gains. Meanwhile, USD\/CNY<\/strong> slipped 0.1% to 7.1906<\/strong> as Chinese markets<\/strong> reopened after a long weekend.<\/p>\n\n\n\n

Recent PMI data<\/strong> pointed to ongoing weakness in China\u2019s economy. The Caixin manufacturing PMI<\/strong> unexpectedly contracted in May, aligning with the government\u2019s PMI figures released over the weekend. Export orders continue to stall, pressured by elevated U.S. tariffs.<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. dollar edged higher on Tuesday but remained close to its six-week low as growing uncertainty over trade policies clouded the outlook for the U.S. economy. Meanwhile, the euro weakened slightly ahead of key inflation data from the eurozone. As of 04:10 ET (08:10 GMT), the U.S. Dollar Index\u2014which measures the greenback against a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[205,210],"tags":[220,221,222,223],"class_list":["post-34352","post","type-post","status-publish","format-standard","hentry","category-markets-pt","category-currencies-pt","tag-currencies-pt","tag-dollar-pt","tag-euro-pt","tag-yen-pt"],"acf":[],"yoast_head":"\nDollar Recovers Modestly After Hitting Six-Week Low, Euro Drops Prior to ECB Meeting - OnEquity<\/title>\n<meta name=\"description\" content=\"Dollar recovers from six-week low as euro weakens before ECB meeting; markets eye inflation data and global trade tensions..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/onequity.com\/pt\/dollar-recovers-modestly-after-hitting-six-week-low-euro-drops-prior-to-ecb-meeting\/\" \/>\n<meta property=\"og:locale\" content=\"pt_PT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar Recovers Modestly After Hitting Six-Week Low, Euro Drops Prior to ECB Meeting - OnEquity\" \/>\n<meta property=\"og:description\" content=\"Dollar recovers from six-week low as euro weakens before ECB meeting; 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