Market Analysis: Dollar's Movement Against Euro Signals Start of Eventful Week

Financial Market Update

🇪🇺 Euro rose 0.15% to $1.08565, while dollar index was down 0.03% at $103.83
💼 Federal Reserve Chair Jerome Powell will testify before lawmakers on Wednesday and Thursday
📉 Markets were pricing in substantial interest rate cuts early this year, but bets have since been reduced
🌍 Market participants think further gains for the dollar may be limited
🇬🇧 Sterling was up 0.32% against the dollar ahead of the British budget on Wednesday
💼 European Central Bank (ECB) meets on Thursday, policymakers cautious about suggesting rate cuts
🇨🇭 Swiss franc briefly jumped after inflation data, soon gave up gains
🦘 Australian dollar down 0.2% awaiting local GDP data on Wednesday and China’s annual parliament meeting beginning Tuesday

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💵 The US dollar weakened against the euro
📅 The upcoming week is expected to be eventful in terms of financial news and market movements
💼 Traders are keeping a close eye on economic data releases and geopolitical events