Forex Analysis by Investing.com (Günay Caymaz) covering: EUR/USD, US Dollar Index. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
The US dollar, after hitting a yearly low, is showing signs of recovery.For less than $8 a month, InvestingPro's Fair Value tool helps you find which stocks to hold and which to dump at the click of a buttonThis suggests that the Fed might only cut interest rates by 25 basis points, which is good news for the greenback.report. A strong jobs report could further support the dollar, as it might lead the Fed to slow down its rate cuts.
A move above this level could push the index toward the 102.6-103.3 range, potentially triggered by strong U.S. labor data. If the DXY fails to break into the 102 range this week, it could test 101.40 as support due to diminished demand. Conversely, markets are pricing in a high probability of the ECB cutting rates again at its September 12 meeting. August inflation in the Eurozone fell to 2.2%, a three-year low, and core inflation dropped by one percentage point after three months.
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