Ekonomické zprávy

European session review: USD weakens ahead of Biden-McCarthy meeting

TimeCountryEventPeriodPrevious valueForecastActual
06:30SwitzerlandIndustrial Production (YoY)Quarter I5.9% 3.4%
09:00EurozoneConstruction Output, y/yMarch2.1% -1.5%

USD weakened against most of its major rivals in the European session on Monday as investors continued to monitor the U.S. debt ceiling talks.

The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, slipped 0.12% to 103.08.

After Friday’s disturbing reports of a pause in debt limit negotiations between the White House and House Republicans, U.S. President Joe Biden and Republican House Speaker Kevin McCarthy agreed on Sunday to meet later today in an effort to revive the talks and solve the dispute. 

Investors hope the sides will reach a deal by the end of the week. 

The U.S. Treasury Secretary Janet Yellen repeated yesterday that early June is a hard deadline for the debt ceiling. Also, she warned that the chances that the U.S. can pay all bills on June 15 are quite low without a raise in the debt limit.

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