The U.S. dollar has stabilized ahead of the Federal Reserve’s (Fed’s) latest minutes release. This might be driven by investors’ more risk-averse behavior, as they await information on the following monetary policy course.

According to preliminary data last month, the Canadian economy was marked by periods of activity. This fact may call into question the data on the level of a slowdown in the fourth quarter.

The G7 countries should soon announce price caps for Russian oil exports.

The dollar settled on Tuesday following its rally the day before. Appreciation of the value has been triggered by investors that used the currency as a safe haven. This was due to the growing rate of COVID-19 in China.

According to economists from Commerzbank, the prerequisites for the weakening of the dollar in the medium term already exist.

Japan's largest oil refinery is drawing up plans to consolidate production as domestic demand for oil products falls due to declining population and efforts to reduce emissions.

The European Central Bank (ECB) is likely to raise interest rates by 75 basis points at the regulator’s next meeting in December. Robert Holtzmann, a member of the ECB's Governing Council, expressed support, stating that further monetary tightening is needed.

On Tuesday, the dollar weakened a bit and led to an increase in oil prices. Now there are worries on the market about a coming global recession.

Cleveland Fed President Loretta Mester said Monday that the Federal Reserve could move to a smaller pace of interest rate hikes starting next month as it adjusts its measures to combat high inflation and keep the economy growing.

Goldman Sachs forecast the growth of the US dollar against Asian currencies. If the situation with the Fed’s interest rates will get clear during the first half of 2023, the strengthening of the dollar must stop. In that case, the U.S. currency will gradually begin to decline.