On Tuesday, the dollar declined against major world currencies amid expectations of macroeconomic data from the United States and decisions on the bill to reduce government spending. The euro strengthened to $1.126 from $1.1241, while the dollar declined against the yen to 144.47 yen from 144.83. The dollar index, reflecting its exchange rate against the currencies of the six key US partners, fell by 0.17% to 100.2. This week, key American statistics are expected from Thursday: data on applications for unemployment benefits, as well as reports on home sales in the secondary market and new buildings. These indicators may affect the further dynamics of the dollar. At the same time, data from Germany is holding back the strengthening of the euro. In April, the producer price index (PPI) decreased by 0.9% year-on-year and 0.6% month-on-month, which turned out to be worse than analysts' forecasts (expected -0.6% and -0.3%). Earlier it became known that the budget Committee of the US House of Representatives approved President Donald Trump's bill on reducing government spending. Speaker Mike Johnson expects it to be passed to Congress by the end of the week. The Trump administration has stepped up efforts to implement tax reform and immigration policy changes.
