The US Dollar showed signs of recovery on Tuesday, managing to stabilize after initial declines due to negative economic signals and escalating trade tensions. The dollar weakened following disappointing ISM Manufacturing PMI figures, reflecting ongoing challenges within the US industry. Rising trade fears, particularly due to President Trump's tariff threats against steel and the growing rift with China, have contributed to market volatility. Investors are keenly watching upcoming economic indicators, such as job openings and factory orders, to gauge the economic outlook and implications for Federal Reserve policy.
The US Dollar edged higher on Tuesday, stabilizing after a decline at the start of the week, though it remained near multi-week lows.
The modest recovery came as market sentiment steadied despite growing concerns over trade tensions and a string of soft economic data.
President Donald Trump's threat to double steel tariffs to 50% and escalating rhetoric with China have reignited fears of a renewed trade confrontation.
Looking ahead, investors await key data, including JOLTs job openings and factory orders, for further clues on the economic trajectory and the Fed's policy outlook.
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