The U.S. dollar strengthened at the start of the new trading week, supported by upbeat economic data as the currency attempted to recover some of last week\u2019s losses.<\/p>\n\n\n\n
The Dollar Index, which measures the greenback against a basket of major currencies, climbed about 0.3%, buoyed by strong manufacturing figures out of New York. The November Empire State Manufacturing Survey showed business conditions rising well above market expectations, reaching their highest level in a year.<\/p>\n\n\n\n
The index advanced by eight points to 18.7, compared with forecasts for a decline to 5.8. This surprise reading reinforced confidence in the resilience of the U.S. economy and boosted the dollar\u2019s appeal in global markets.<\/p>\n\n\n\n
The currency also drew support from recent remarks by several Federal Reserve officials, who signaled a preference for keeping interest rates steady. Their comments reduced the probability of a rate cut at the Fed\u2019s December meeting to 41%, down from 70% earlier this month.<\/p>\n\n\n\n
Together, the stronger\u2011than\u2011expected data and the Fed\u2019s cautious stance highlight the dollar\u2019s resilience against earlier expectations. They also underscore growing market caution over the likelihood of near\u2011term rate cuts, particularly as fresh indicators continue to point to underlying strength in the U.S. economy.<\/p>\n","protected":false},"excerpt":{"rendered":"
The U.S. dollar strengthened at the start of the new trading week, supported by upbeat economic data as the currency attempted to recover some of last week\u2019s losses. The Dollar Index, which measures the greenback against a basket of major currencies, climbed about 0.3%, buoyed by strong manufacturing figures out of New York. The November …<\/p>\n","protected":false},"author":13,"featured_media":112137,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37],"tags":[],"class_list":["post-120949","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=120949"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120949\/revisions"}],"predecessor-version":[{"id":120950,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120949\/revisions\/120950"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/112137"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=120949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=120949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=120949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}