Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS

Share on StockTwits

The euro heads to break its losses this week of dwindling hopes Fed's rate cut

Today's market analysis on behalf of Samer Hasn Market Analyst and part of the Research Team at


May 24, 2024 ( Newswire) The euro witnessed gains of 0.32% against the US dollar at 1:00 pm GMT, and the level of 1.08503 is preparing to stop the series of daily losses that it has been exposed to since the beginning of the week, after a series of weekly gains for five weeks in a row.

The euro's gains today came despite the better-than-expected performance of durable goods orders in the US last April and despite the noticeable decrease in the possibilities of the Federal Reserve cutting interest rates in next September and November during the week.

This week witnessed a series of statements and statements from monetary policy officials supportive of the US dollar, as they indicated the economy's ability to continue expansion, in addition to the members of the Fed speaking about their concerns regarding the potential path of inflation and the ability to push it to its target soon.

These inputs have raised the probability that the Fed will keep current rates unchanged from 35% and 22.8% to 50% and 38%, respectively, from a week ago to now, according to CME FedWatch Tool.

While the European Central Bank may be set to cut rates sooner than the Fed, the Eurozone's economic performance and the recovery of growth has continued to support the single currency. This helps the euro face the dollar, which is supported by a relatively wide bond yield gap with other advanced economies, including the euro zone.

As for today's data, durable goods orders grew by 0.7% on a monthly basis in April, but excluding transportation items, the basic reading grew by only 0.4%. However, all durable goods orders from the items, with the exception of the volatile transportation and defense items, and the "other" items, all recorded positive performance, which in the end may be an indication of business confidence in the future of the economy and the feasibility of huge capital spending now.

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire

Global investors must adhere to regulations of each country. Please read privacy policy:

That's all it takes to get an article published on Investor Ideas - Learn More