Today’s Dollar Exchange Rate: Dollar-Euro Prices as of July 10, 2024

Stable Forex Rates as Markets Await Key Economic Data and Fed Decisions

What is the dollar exchange rate today? As of July 10, 2024, what are the latest dollar and euro prices in Turkish Lira? The forex market remains steady.

The USD/TRY exchange rate hovered just below 32.90, while the EUR/TRY rate traded around 35.65.

Today, domestic data releases include the May industrial production index and unemployment figures, with the balance of payments data to be published on Friday.

The current account deficit for May is expected to be $1.5 billion, with a projected total deficit of $26.5 billion for 2024.

Messages from Minister of Treasury and Finance Mehmet Şimşek regarding the macroeconomic outlook will be closely monitored.

Şimşek is scheduled to speak at the Turkish Banks Association (TBB) general assembly and the TÜSİAD High Advisory Council meetings on Thursday.

Globally, developments related to the US Federal Reserve’s (Fed) potential rate cuts are being closely watched.

Fed Chairman Jerome Powell, in his address to the Senate Banking Committee yesterday, stated that the US economy is “no longer an overheated economy,” but did not provide any hints on the timing of rate cuts.

Markets are currently pricing in a 73% probability of a Fed rate cut in September.

Source: NTV / Prepared by Irem Yildiz

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