The U.S. dollar surged on Friday following the release of data showing a key inflation measure that met expectations. Alongside this, personal spending and income showed an increase, reinforcing the view that the Federal Reserve may opt for a smaller 25 basis point interest rate cut next month, rather than the previously speculated 50 point
Forex
The U.S. dollar saw a slight increase in value, ending a five-week losing streak. The Dollar Index, tracking the greenback against a basket of other currencies, rose by 0.1% to 101.314. While this marks the best week since April, the dollar is still set for a significant drop of about 2.5% in August. This decline
The U.S. dollar showed signs of recovery on Thursday, following recent lows, as investors anticipated a series of crucial economic data releases. The Dollar Index, which compares the greenback against a basket of other currencies, edged 0.2% higher to 101.182 after hitting a 13-month low earlier in the week. Despite concerns about trade tensions between
The foreign exchange market is currently in a state of uncertainty as traders closely monitor the potential size of the expected U.S. interest rate cut next month. The dollar remains near its lowest level in over a year against a basket of peers. This has led to a surge in the value of sterling, which
The recent imposition of new Canadian trade tariffs on China has led to a weakening of most Asian currencies. The Chinese yuan saw a slight rise following Canada’s decision to impose a 100% import tariff on Chinese electric vehicle imports, with additional tariffs on Chinese steel imports. The escalation of trade tensions between China and
Asian currencies showed strength on Monday as the Japanese yen saw a significant rise amid growing speculations that the Federal Reserve would lower interest rates in September. This led to the dollar hitting a 13-month low, causing most regional currencies to extend their gains from the previous week. Comments made by Fed Chair Jerome Powell
The U.S. dollar experienced a decline in early European trading, following a recent rebound from seven-month lows, as investors awaited Fed Chair Jerome Powell’s speech at the Jackson Hole symposium. The Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower to 101.245 at 04:30 ET (09:30 GMT). Despite
The recent trends in the Asian currency market have been characterized by weakening currencies amid a stronger dollar and growing expectations of interest rate cuts. While some currencies have experienced gains, the overall sentiment remains bearish towards the greenback. The Japanese yen, which initially showed strength, has softened, reflecting uncertainties in the market. The Federal
The dollar showed a mixed performance on Wednesday following the release of data showing that employers had added 818,000 fewer jobs in the year leading up to March 2024 than previously thought. This unexpected data release beyond its scheduled time caused confusion in the markets, leading to some choppy trading. While this data might not
The dollar has been under pressure in recent times, hovering near a seven-month low, as investors anticipate a potential rate cut by the U.S. Federal Reserve in the coming months. This speculation has been bolstered by the likelihood of interest rate reductions starting in September, with traders closely monitoring Federal Reserve Chair Jerome Powell’s speech