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The dollar opened at $930 and the market remains focused on the central bank’s interest rate decision.

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The exchange rate is around $940. If the trend of the past few days continues, a drop to the first target of $920 is possible. If the trend reverses, it will reach $970 again.

of dollar It again points to a day with downward pressure.On his first move in the session, he fluctuated between $929 and $933 a drop to $920 cannot be ruled out in some forecasts.

The market expects the US Federal Reserve to cut the rate of monetary tightening.

Meanwhile, in Australia, the central bank surprised by raising interest rates by 25 basis points. less than expected assures them they have already risen significantly, but further tightening is still needed in the future, he added.

Francisco Román, Senior Market Analyst at XTB Latam, commented that data that could support the theory that allowed the Federal Reserve to be less aggressive in its decisions: increase. That’s a boost for stocks.

He said the decline in economic activity in North America The mood seems unstoppable, leading to a plunge in the dollar index.

“This week’s focus will be on Friday’s US nonfarm payrolls data. We may get more clarity on the Fed’s tightening of monetary policy. ” he argued.

of copper On the other hand, the depreciation of the dollar has encouraged the buying of red gold, showing an increase.

On the local level, Román emphasized yesterday that Imacec with 0% volatility was announced. “Better than expected, ultimately strengthening the local currency against the U.S. currency.”

For all this, experts noted that the exchange rate is in the $940 region. First target could fall to $920 reaching $970 again if the trend reverses.

Source: Biobiochile

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