Dollar Rises for Fifth Day Ahead of Key Economic Data: The U.S. dollar continued rising for the fifth consecutive day as American traders returned from their holidays,
anticipating a busy week filled with economic data. On Tuesday, the dollar gained against most of its G10 peers.
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U.S. Set to Impose Sanctions
Inflation in Switzerland Slows
Dollar Rises for the Fifth Day
U.S. Set to Impose Sanctions on Venezuelan Officials Over Maduro
The United States is preparing to impose new sanctions on
Venezuelan government officials in response to events during the re-election of Nicolás Maduro in July.
The Treasury Department is close to announcing individual sanctions against 15 officials linked to Maduro,
accusing them of “obstructing free and fair presidential elections,” according to documents seen by Bloomberg.
These measures target key leaders who the U.S. claims collaborated with Maduro to undermine the July 28 vote,
including members of the electoral authority, the Supreme Court of Venezuela, the National Assembly,
and the military and civilian intelligence services known as SEBIN and DGCIM.
These plans could be announced early this week and are subject to change before final approval.
Inflation in Switzerland Slows, Surpassing Expectations in August
On Tuesday morning, data from the Swiss economy
showed that the annual Consumer Price Index (CPI) rose by 1.1% in August,
below market expectations of a 1.2% increase and down from the previous 1.3% rise.
The CPI has been flat at 0.0% every month,
missing market expectations of a 0.1% increase but better than the last decline of 0.2%.
The data indicates weaker inflationary pressures,
supporting the likelihood of the Swiss National Bank cutting interest rates again this September for the third time this year.
Dollar Rises for the Fifth Day Amid Anticipation of a Busy Week of Economic Data
The U.S. dollar extended its gains for the fifth day as traders returned from their holidays
and anticipated a week packed with economic data releases.
The dollar gained against most of its G10 peers on Tuesday,
with the Bloomberg Dollar Spot Index rising by 0.1%.
In contrast, the Australian dollar was the weakest performer amid falling iron ore futures
and lower-than-expected GDP inputs.
Investors are looking ahead to several key U.S. economic reports,
including manufacturing data due today, service sector data on Thursday,
and the main non-farm payroll report on Friday,
to assess whether expectations for a more accommodative Federal Reserve policy are justified.
One in four swap market participants believe the Fed will cut rates by over 25 basis points this month.
Dollar Rises for Fifth Day Ahead of Key Economic Data