The U.S. dollar was weak against most major currencies on Tuesday ahead of the deadline for additional U.S. tariffs on Chinese imports and on continued uncertainty about a 'phase one' trade deal between the U.S. and China.
Traders also look ahead to the meeting of the Federal Reserve. The Fed is widely expected to hold rates on Wednesday. The bank's accompanying statement is awaited for clues on future rate stance and the outlook for the economy.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.