19th July – Daily Market Review

The U.S. dollar stabilized in early European hours Monday after suffering its worst weekly drop this year, while weak Chinese growth data pressured the yuan. The dollar index last week fell below the 100 level for the first time since April 2022 after softer-than-expected inflation data–consumer prices on Wednesday and producer prices on Thursday–supported the view that the Federal Reserve will end its interest rate-hiking cycle after a final increase next week. The NY Empire state manufacturing index is due later in the session, to be followed later in the week by U.S.