The dollar attempts to recover amid anticipation of important U.S. data

The dollar attempts to recover amid anticipation of important U.S. data

• The U.S. House of Representatives passes the new tax bill

• The market is awaiting new evidence regarding U.S. interest rate cuts

The U.S. dollar rose in the European market on Thursday for the first time in the last four days against a basket of global currencies, as part of efforts to recover from a two-week low, driven by active buying from low levels.

This comes with the rise amid a decline in financial stability concerns in the United States, especially after the Republican-dominated U.S. House of Representatives approved the tax bill imposed by Trump and referred it to the Senate.

Investors are anticipating important economic data from the United States today in quick succession, looking for new evidence regarding the possibility of U.S. interest rate cuts at least twice before the end of this year.

Price Outlook

• The price of the U.S. dollar index today: the dollar index rose by 0.25% to a level of (99.87) points, from the opening level of today's trading at (99.63) points, and recorded a low of (99.44).

• At the close on Wednesday, the index lost 0.3%, marking the third consecutive daily loss, and recorded a two-week low at 99.34 points, due to concerns about financial stability in the United States.