Bets on Fed rate cuts heat up, with the dollar falling to its lowest level in nearly two months.

According to the news from Zhitong Finance and Economics, the US dollar fell to its lowest level since April against the euro and the British pound on Tuesday, as signs of a weak US economy have given the Federal Reserve reason to cut interest rates in advance. The US dollar fell to a two-week low against the yen, after data showed that manufacturing activity had slowed for the second consecutive month and that construction spending had unexpectedly slipped. According to LSEG's interest rate probability application, the probability of a Fed fund futures rate cut in September has increased to around 59.1% after the data was released. As of press time, the US dollar index had fallen 0.05% to 103.99, its lowest level since April 9. By contrast, data released last Friday showed that consumer

Zhitong Finance53minutes ago

Manufacturing PMIs Signal Global Industry Rebound in 2Q -- Market Talk

The latest manufacturing PMIs suggest the global industry recovery has gathered momentum so far in 2Q and price pressures have risen.

WSJ20:42 ET

Gold Prices Surge as US Treasury Yields Drop on Soft US ISM PMI

Gold climbs over 0.80% after hitting a daily low of $2,314.

FXStreet17:17 ET

Forex Today: US Data Dominate the Mood in the FX Space

The USD Index (DXY) dropped markedly and flirted with three-week lows near the 104.00 neighbourhood. On June 4, Factory Orders take centre stage seconded by the JOLTs Job Openings and the RCM/TIPP Economic Optimism Index.

FXStreet15:07 ET

US Dollar Continues to Decline Due to Weak ISM PMI Data

On Monday, the US Dollar Index (DXY) continued its decline toward the 104.15 area mainly due to the Institute of Supply Management (ISM) PMI report for May.

FXStreet12:56 ET

How the Federal Reserve Drives the Boom-bust Cycle

The Federal Reserve was sold as a way to "provide the nation with a safer, more flexible, and more stable monetary and financial system."

FXStreetJun 3 11:38 ET