(CercleFinance.com) - Complicated weekend for the Dollar which is still trying to preserve the floor of 1.19/E after several forays below this threshold during the day (1.1920 at its lowest).


The weakness of the greenback (-0.75% at 1.1890/e this evening) seems to confirm the 1st hot impression of forex traders the day before, during the intervention of Jerome Powell announcing a "more flexible" approach to the inflation and the possibility of considering the 2% target as a "pivot": the FED has just found a new excuse to delay a rate hike and extend zero remuneration for the greenback.

The dollar could have benefited from encouraging US figures of the day: the consumer confidence index of the University of Michigan stood at 74.1 points in August, clearly beating the consensus of 72.8 points (after 72.5 points in July).
The most anticipated figure was that of consumer spending by American households: it increased by 1.9% sequentially last month, according to the Commerce Department, where economists were counting on +2%.

For their part, household income rose by 0.4% in July, while the consensus expected a decline of -0.3%.

The Euro should logically have been weakened by
the fall of -13.8% in French GDP after -5.9% in the previous quarter, according to CVS-CJO data from INSEE.
Main responsible for this historic contraction: drop of -11.5% in household consumption expenditure and drop of -14.+% in GFCF (business investment).
The Dollar fell -1% against the Yen (around 105.40), despite a short period of political uncertainty which began with the surprise resignation this Friday morning of Shinzo Abe for health reasons.
Comparable drop against the Pound (the "cable") towards 1.3330.
more modest decline of -0.4% against the Swiss Franc which also lost 0.2% against the Euro, towards 1.0670.