US dollar weakens, focus on economic reports and trade talks

From Investing.com: 2025-07-01 05:40:00

The US dollar weakened by 14% against the euro in the first half of the year, while focus remains on the US budget bill and trade talks. A data-packed week includes today’s US economic reports and Thursday’s jobs report. Oil prices hover around $66 while gold rallies, gaining momentum. The dollar’s recent underperformance is a concern, with euro/dollar climbing 14% and cable rallying 10% in the first half of 2025. The US stock market is under pressure despite strong AI market growth, as trade tensions and budget concerns persist. Trump’s advisers are shifting towards framework agreements in trade negotiations, with deals remaining elusive. Fed Chair Powell faces continued pressure from Trump to lower rates, as he attends a central banking forum in Portugal. Oil prices stabilize around $66 amid OPEC+ output hikes, while gold prices rally above a key trendline, signaling a potential upleg.



Read more at Investing.com: US Dollar Steadies as Risk Appetite Eases on Data and Key Deadlines