U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo NEW YORK, Jan 24 (Reuters) – The dollar edged lower against the euro on Tuesday after data showed euro zone business activity made a surprise return to modest growth in January, while U.S. business activity shrank for a seventh straight month. While U.S. business activity shrank in January, the downturn moderated across both the manufacturing and services sectors for the first time since September and business confidence strengthened as the new year began. "It just looks like another piece of data showing what the Fed has been preaching: the economy is resilient enough to take on more hikes," said Juan Perez, director of trading at Monex USA in Washington. Fed fund futures see only two more quarter-point rate hikes by the Fed to a peak of around 5% by June, before it starts cutting rates later in the year. The Federal Reserve itself has insisted it still has 75 bps of increases in the pipeline. Latest Updates "It is clear looking at PMIs that the Fed has prevented expansion, but the economy has not taken a hit like many thought," Perez said. […]
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Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
