U.S. Dollar Eases after More Weak U.S. Economic Data

The dollar started the week on the defensive on Monday after more disappointing U.S. economic data reinforced expectations the U.S. Federal Reserve will not hike interest rates any time soon, while concerns about Greece’s ongoing debt talks pressured the euro.

Data on Friday showed U.S. business investment spending plans fell for a seventh straight month in March, suggesting the economy was struggling to rebound.

The data cemented the view that the U.S. central bank will not send any imminent tightening signal after its two-day Federal Open Market Committee meeting scheduled to begin on Tuesday.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.