» Forex - Dollar rose on Monday on Oil price dip and unexpected strong HSBC earnings

The Dollar rose against Japanese Yen and Swiss franc on Monday as investors snapped up riskier assets such as stocks, encouraged by a dip in oil prices and unexpectedly strong earnings from HSBC. US and global stocks markets were cheered by news that European banking heavyweight HSBC posted unexpectedly strong Q1 earnings and a fall in oil prices.

Investors will watch a big slate of economic data on Tuesday, especially April US retail sales, as well as speeches by Fed officials for clues on whether the US central bank will cut benchmark interest rates again next month.

Short-term interest rate futures, which track market expectations for Fed monetary policy, show an 86% chance that the Fed will keep benchmark lending rates unchanged at 2% when it next meets on June 25.

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