The dollar regained color on Tuesday January 7, 2025, following publications of reassuring economic indicators on the American economy.
Around 8:35 p.m. GMT, the American currency advanced 0.43% against the euro, to 1.0345 dollars per euro, and rose 0.62% against the pound sterling, to 1.2481 dollar for a pound.
The Dollar Index, which compares the American currency to a basket of other major currencies, also gained ground, gaining 0.33%.
“The US dollar has strengthened a bit” mardi “based on economic reports” published in the United States, noted to AFP Shaun Osborne, analyst at Scotiabank.
“The ISM institute’s data on services and the figures on job vacancies were both a little stronger than expected,” he pointed out.
Activity in services in the United States continued to grow in December, at a more sustained pace than in November and than expected by analysts, driven in particular by the measures taken by companies to prepare for an increase in prices. customs duties with Donald Trump.
The number of job openings for November also exceeded analysts’ consensus to stand at 8.1 million, according to the U.S. Bureau of Statistics (BLS).
“In addition, President (elect) Trump has indicated that he will aggressively pursue tariffs,” refuting press information assuring that the Republican could “restrict the increase in customs duties to essential imports”added Mr. Osborne.
However, “it seems that the trend appreciation of the dollar is slowing down”he continued, while a series of data on American employment as well as the report of the last monetary meeting of the American central bank (Fed), held in December, are expected in the coming days .
In the euro zone, inflation accelerated in December, to 2.4% over one year, compared to 2.2% in November, in line with analysts’ expectations, according to figures published Tuesday by Eurostat.
For its part, the Canadian currency climbed 0.18% against the greenback, to 1.4358 Canadian dollars per dollar, following the resignation of Prime Minister Justin Trudeau on Monday, after weeks of political crisis in the country, recently aggravated by the economic threats of Donald Trump.
© Agence France-Presse
