The dollar hovered near a 15-month low on Friday, heading for its biggest weekly decline since November, after weak U.S. inflation data boosted investor bets that the Federal Reserve was close to ending its rate hike path. Data on Thursday revealed that U.S. producer prices barely rose in June, while …
Read More »Dollar is falling ahead of US inflation data, and sterling is at its highest level in 15 months
The dollar fell, hitting a two-month low on Wednesday, July 12, against other major currencies ahead of the release of US inflation data, while the British pound rose to a 15-month high on expectations that the Bank of England will continue to raise interest rates. The yen jumped to the …
Read More »Dollar falls to its lowest level in two months and pound rises
The dollar fell to a two-month low on Tuesday after Federal Reserve officials signaled the tightening cycle was coming to an end, while sterling rose to a 15-month high after more-than-expected wage growth in Britain. Several Federal Reserve officials said on Monday that the bank would likely need to raise …
Read More »Dollar is making up for its losses and Yuan is falling after weak inflation data in China
The dollar recovered its losses on Monday, after falling after data showed that jobs in the United States recorded the lowest growth in two and a half years, while disappointing inflation figures in China weighed on the yuan and the Australian and New Zealand dollars. Figures released on Friday showed …
Read More »Dollar is stable with the continued resilience of the US economy
Dollar index futures moved in narrow ranges on Friday as investors awaited a key report on US jobs and assessed the possibility of the Federal Reserve raising interest rates for a longer period in light of economic growth expectations. The US Nonfarm Payrolls report is due later on Friday, while …
Read More »US stocks still impacted by negative sentiment post FOMC minutes
US stocks slid during the US trading session after strong labour data spurred fears around further interest rate hikes by the US central bank, reviving concerns about the impact of those hikes on the economy.Both the S&P 500 and the Dow Jones Industrial Average, which plummeted by as much as …
Read More »Wall Street futures slide on rate hike jitters; Meta rises
As investors analysed the minutes of the Federal Reserve’s June meeting, Wall Street futures declined on Thursday. However, Meta defied the trend by launching Threads, a Twitter-like app, and defying the decline in rate-sensitive technology and growth businesses. The previous day saw a decline in U.S. market indexes as the …
Read More »Market Drivers – US Session – 05/07/2023
US markets moderately retreated on the back of tensions between China and the US, as well as following reports of softer economic activity. The Chinese Caixin Services dropped more than expected, and Japanese, Australian, and Eurozone PMIs were revised lower. Additionally, US Factory Orders rose below expectations.Economic DataUS data showed …
Read More »US Dollar enjoys firmer stance on hawkish Fed bets as China eyed
The US Dollar Index teeters around weekly top after rising in the last three consecutive days. FOMC Minutes confirm July rate hike even as softer US data exists.Traders seek solace in US Dollar as yields portray recession fears, China-linked headlines appear grim. US ISM Services PMI, ADP Employment Change eyed, …
Read More »Wall Street slips amid China woes post FOMC minutes
US stocks edged lower as traders return from the Independence Day holiday to monitor headwinds for the global economy and after the release of Fed’s minutes for June monetary policy meeting.The S&P 500 was down 0.1%, while the Dow Jones Industrial Average slipped by around 0.3% or about 100 points. …
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