Dollar Hits 2-Month Low Before US Inflation Data Investors are betting that U.S. inflation data due later today will show a sharp slowdown, which could lead the Federal Reserve to end its aggressive rate hike cycle. Economists polled by Reuters expect to see June U.S. consumer price inflation slow to 3.1% from 4% in May. …
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The dollar held steady on Friday as investors awaited a key U.S. jobs report and weighed the prospect of higher-for-longer Federal Reserve interest rates against the economic growth outlook. The closely watched nonfarm payrolls report is due later on Friday, where expectations are for the U.S. economy to have added 225,000 jobs in June. The …
Dollar firming up on a hawkish Fed view The dollar firmed up on Thursday as investors digested the latest Federal Reserve policy meeting minutes, which reinforced expectations for a rate increase this month. The minutes showed that a majority of policymakers believe that further rate hikes are needed to curb inflation, even though they acknowledged …
Gold prices swung between gains and losses on Monday as traders remained on the sidelines ahead of the July 4th holiday. The cautious mood prevailed as investors weighed the U.S. Federal Reserve’s (Fed) rate hike prospects for this year, especially after the top-tier U.S. ISM manufacturing PMI data unexpectedly showed that the manufacturing sector contraction …
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U.S. equity index futures rose on Friday morning after the release of the latest inflation data. The May core PCE price index, which is the Federal Reserve’s preferred inflation measure, rose 0.3% month-over-month, in line with expectations. However, the core PCE price index rose 4.7% year-over-year, below the consensus forecast of 4.8%. The weaker-than-expected inflation …
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The US Dollar is in the green today as investors continue to price in more rate hikes from the Federal Reserve. The greenback is up against most major currencies, including the euro, the yen, and the pound. The dollar’s strength is being driven by a number of factors, including the Fed’s hawkish stance and the …
US Dollar in the green as focus shifts to Powell Read More »
The dollar is under pressure as key U.S. data looms The dollar is under pressure against major currencies on Tuesday as the market looks ahead to U.S. durable goods and other data this week that may determine the timing of further interest rate hikes. The dollar index, which measures the greenback against a basket of …
The dollar is under pressure as key U.S. data looms Read More »
Dollar Weakens as Powell’s Testimony Fails to Impress The dollar weakened on Thursday after Federal Reserve Chair Jerome Powell’s semi-annual testimony to Congress failed to provide any new insights into the central bank’s monetary policy plans. In his testimony, Powell reiterated that the Fed is committed to bringing inflation back to its 2% target. However, …
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Gold Price Forecast: The Road to $1,930 Gold prices are expected to extend their downside journey below $1,930 in the near term, as investors continue to sell the metal on expectations of more aggressive monetary tightening by the Federal Reserve. The US central bank is widely expected to raise interest rates by 50 basis points …
US Dollar on fire as Japan, China commit to further easing: The US Dollar is on fire today, as investors seek safety in the world’s reserve currency. The Japanese Yen and Chinese Yuan are both under pressure after their respective central banks announced plans to further ease monetary policy. The Bank of Japan (BoJ) said …
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