Current Dollar Exchange Rate: Dollar-Euro Prices as of July 3, 2024

Current Dollar and Euro Rates: Latest Updates from the Interbank Market

The dollar/TL started the new day trading flat after the June inflation figures, with the dollar currently at ₺32.57.

The euro/TL is trading at ₺35.04, while the pound/TL is slightly below its previous close at ₺41.3370.

The dollar index is slightly above its previous close at 105.7.

Market Influences and Key Economic Indicators

Remarks from U.S. Federal Reserve (Fed) Chairman Jerome Powell regarding inflation had an impact on asset prices. Investors are focusing on a busy data agenda today, including ADP private sector employment in the U.S.

During a panel at the European Central Bank (ECB) Central Banking Forum in Sintra, Portugal, Powell noted signs of a renewed disinflationary trend following a first-quarter slowdown, stating, “We have made significant progress in reducing inflation to our target.”

In the money markets, the likelihood of the Fed cutting rates in September remains at 71%, while the probability of a rate cut in November has increased to 97%. The chances of a second rate cut in December are priced at 77%.

Domestically, the Consumer Price Index (CPI) in June increased by 1.64% month-on-month and fell to 71.6% year-on-year.

Today, analysts will follow the Turkish Central Bank’s (TCMB) Monetary Policy Committee (MPC) meeting summary and global Purchasing Managers’ Index (PMI) data, especially U.S. ADP private sector employment. Technically, resistance levels for the dollar index are noted at 106 and 107, with support at 105 and 104.

Source: NTV / Prepared by Irem Yildiz

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button