The dollar hit a six-week high as strong U.S. economic data led traders to bid for higher interest rates. Fewer Americans filed new claims for unemployment benefits last week than expected. Monthly producer prices rose the most in January in seven months. The Fed’s target range is currently 4.53% to 4.76%, with a sharp increase …
The dollar fell as investors grabbed riskier currencies after strong US economic data boosted confidence in the outlook for global growth, even as the Federal Reserve raised interest rates further. Reports from the US Commerce Department showed that US retail sales rebounded sharply, driven by big-ticket purchases such as cars and other goods. This came …
The dollar eased after a strong US economic data Read More »
In early European trade, the US dollar rose after US consumer inflation (CPI) picked up in January. Meanwhile, sterling experienced a fall after the UK CPI rate cut. The dollar index (DXY), traded 0.34% higher at 103.458. US CPI was at 6.43% in January, short of the 6.2% analysts forecast. Moreover, a broadly viewed year-over-year …
The dollar fell on Tuesday as investors awaited an expected inflation report, while the yen gained ahead of the expected appointment of the Bank of Japan’s next governor, Kazuo Ueda. Markets look to U.S. CPI data for clues about the Fed’s policy outlook. The number should rise 0.53% in January after falling 0.12% in December. …
The dollar was testing a five-week high against its major peers on Monday, with particular gains against the rate-sensitive Japanese yen as investor speculation that the Federal Reserve is going to keep monetary policy on hold for longer pushed U.S. yields higher. These expectations will be challenged or highlighted by the main event of the …
The dollar rose sharply as investors held off on U.S. inflation next week on concerns of an economic slowdown and Fed rate hike sentiment. The dollar index, increased 0.156% to 103.35 after falling 0.25% in the previous session. The index is poised for a weekly gain, its second consecutive positive week, and a run it …
The US dollar fell Wednesday after the Fed head refused to raise his tone on inflation despite a very solid US jobs number last week. In a Tuesday session before the Economic Club of Washington, Powell explained that interest rates might be higher than expected if the US economy remains strong. Still, he reiterated that …
The dollar eased on Tuesday but still hovered near a one-month peak as traders raised bets on how high the U.S. Federal Reserve would need to raise interest rates to curb inflation. The main mover on Tuesday was the Australian dollar, which rose 1.5% to $0.6953 after the country’s central bank raised its cash rate …
The dollar held firm against the euro, with traders saying the U.S. Federal Reserve will likely raise its benchmark rate to 5.3% and keep it on hold to curb inflation after data showed the labor market remained strong. An earthquake in central Turkey and Syria and a strong U.S. dollar pressured emerging currencies, sending the …
The vast majority of Asian currencies rose sharply. The dollar fell to a nine-month low even after the Fed raised interest rates significantly, with markets betting that the US economic slowdown will force the bank to reverse its dovish stance this year. The Chinese yuan rose 0.44% against the dollar to hit a seven-month high. …
The dollar was largely flat against major currencies after falling in the previous session following U.S. data that showed modest wage pressures. Importantly, investors have been eagerly awaiting the conclusion of the Federal Reserve’s policy meeting. The U.S. bank should raise interest rates by 25 basis points. Fed Chairman Jerome Powell’s press conference will likely …
On Tuesday, the dollar was on track for a fourth monthly loss as investors speculated that a peak in US interest rates could come as soon as this week’s Federal Reserve meeting. Before the Fed rate decision on Wednesday and the Bank of England and European Central Bank rate announcements on Thursday, there was a …
The euro rose on Monday as hopes for an increase in eurozone printing rose on Wednesday after Spain’s inflation figures came in unexpectedly high. At the same time, the dollar remained close to an eight-month low ahead of several central bank meetings this week. After data showed that Spain’s consumer prices increased 5.8% in January …
Sterling fell slightly on Friday but was still close to its highest level in over seven months against the US dollar. Investors anticipate that the British economy’s slowing will bring the Bank of England’s (BOE) tightening cycle to an end soon, potentially weakening the pound in the short term. According to a survey released on …
The US dollar changed a little in European morning trade on Thursday. Markets are eagerly awaiting US GDP data before taking new positions. The dollar index was steady at 101.39. Individual crosses were there same. The euro rose by less than 0.16% to $1.0964, and the pound by less than 0.1% to $1.2406. The fourth …
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