The dollar started the week loweraccording to Bloomberg, while operators had more and more confidence in the likelihood that the Federal Reserve will cut interest rates this year.
The currency closed this Monday at an average price of $3,894,26, being $1.15 below the TRM, which for today was $3,895.41. In addition, the currency reached a maximum price of $3,907 and a minimum price of $3,886.60.
New York Fed President John Williams and Richmond Fed President Thomas Barkin will make comments this Monday, followed by Neel Kashkari of Minneapolis on Tuesday.
“This week is expected to be quieter on the economic front: few economic data releases and limited intervention from central bankers”, wrote Credit Agricole strategists led by Jean-François Paren.
At Morgan Stanley, strategists are already starting to focus on the importance of next week’s US inflation data for April. “Price reaction following this release may be more important than the data itselfgiven how influential price action has been on investor sentiment amid an uncertain macroeconomic setup,” Michael Wilson wrote in a note reported by Bloomberg.
Oil futures rose on Monday after Saudi Arabia raised June crude oil prices for most regions and prospects for a ceasefire deal in Gaza appeared dim, renewing fears that the conflict between Israel and Hamas could continue to spread in the region, Reuters reported.
Brent futures rose $77 cents, or 0.9%, to $83.73 a barrel.while West Texas Intermediate, WTI, futures gained US$87 cents, or 1.1%, to US$78.98 a barrel.
Last week, both futures contracts posted their biggest weekly loss in three monthswith Brent falling more than 7% and WTI 6.8%, as investors weighed weak U.S. jobs data and the possible timing of an interest rate cut from the Federal Reserve.
