Forex Today: US Dollar extends Fed-inspired rebound, ECB next to unveil policy – by eren_fxstreet Majors Currencies Macroeconomics Commodities CentralBanks
The US Dollar continues to gather strength against its rivals early Thursday, supported by the Federal Reserve's hawkish guidance. The European Central Bank will announcedecisions later in the day. The US economic docket will feature May Retail Sales, Philadelphia Fed Manufacturing Survey for June and the weekly Initial Jobless Claims data.
Although FOMC Chairman Jerome Powell refrained from committing to rate increase in July, the hawkish dot plot helped the USD, with theThe ECB is widely anticipated to raise key rates by 25 basis points. ECB President Christine Lagarde will comment on the policy outlook and respond to questions from the press in a news conference starting at 1245 GMT. After having climbed to its highest level in nearly a month above 1.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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