Dollar Edges Higher but Set for Losing Week; China Cuts Key Rate The U.S. dollar edged higher in early European trade Friday, but is still heading for its worst week since February as traders reacted to lower U.S. Treasury yields. At 3:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a…
Happy Friday, traders. Welcome to our weekly market wrap, where we look back at these last five trading days with a focus on the market news, economic data and headlines that had the most impact on the financial market – and may continue to into the future for the US Dollar and other key correlated…
Dollar Edges Lower; Risk Sentiment Remains Fragile The U.S. dollar edged lower in early European trade Thursday, handing back some of the previous session’s substantial gains although the safe haven remains in demand with risk sentiment fragile. At 3:05 AM ET (0705 GMT), the Dollar Index, which tracks the greenback against a basket of six…
Dollar Up, Improving Risk Sentiment Boosts Euro and Pound The dollar was up on Wednesday morning in Asia. Overnight surges gave the euro and pound a boost in early trading, alongside strong U.K. jobs data and a general improvement in investor sentiment thanks to positive U.S. retail sales data and hopes that China will ease…
Gold Up, Dollar and U.S. Yields Also Resume Climb Gold was up on Tuesday morning in Asia, even as the dollar slowly resumed an upward trend and U.S. Treasury yields resumed their climb. Gold futures gained 0.48% to $1,882.65 by 12:36 AM ET (4:36 AM GMT). The dollar, which normally moves inversely to gold, inched…
Here is what you need to know about the important news between May 16th 2022 and May 20th 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…
Oil prices slide as investors take profit; supply fear still looms Oil prices fell on Monday, paring early gains as investors took profit from a surge in the previous session, albeit in the shadow of supply fear as the European Union prepares an import ban on Russian crude and with limited increase in OPEC output.…
Dollar Edges Lower, But Remains Near 20-Year High The U.S. dollar edged lower in early European trade Friday but remained near a 20-year high with Federal Reserve Chair Jerome Powell largely cementing the likelihood of further hefty interest rate rises to combat stubbornly high U.S. inflation. The dollar has been in demand for much of…
Happy Friday, traders. Welcome to our weekly market wrap, where we look back at these last five trading days with a focus on the market news, economic data and headlines that had the most impact on the financial market – and may continue to into the future for the US Dollar and other key correlated…
Dollar Strengthens After CPI; Sterling Hit by GDP Release The U.S. dollar strengthened in early European trade Thursday to a new two-decade high after U.S. inflation remained stubbornly high, while sterling weakened on disappointing U.K. growth data. At 3:10 AM ET (0710 GMT), the Dollar Index, which tracks the greenback against a basket of six…
Dollar’s surge spurs currency hedging by U.S. companies U.S. companies are ramping up efforts to protect their profits from a relentless rally in the dollar, as the greenback surges to multi-decade highs. The dollar has climbed about 15% against a basket of currencies over the last year, helped by a hawkish Federal Reserve and heightened…
Oil drops as economic worries, strong dollar weigh Oil prices dropped more than 1% on Tuesday, extending the previous day’s steep declines as coronavirus lockdowns in top oil importer China, a strong dollar and growing recession risks fed worries about the outlook for global demand. The falls reflected trends in global financial markets, as investors…
Bitcoin falls to lowest since January, in line with tumbling stock markets Bitcoin fell to its lowest level since January on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in line with so-called riskier assets like tech stocks. Bitcoin dropped to as low as $33,266 in morning trade, testing the…
Here is what you need to know about the important news between May 9th 2022 and May 13th 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…
ECB must quickly raise key rates, says head of Germany’s Ifo institute The European Central Bank must quickly raise interest rates in line with the United States, given high inflation in the euro zone, the head of Germany’s Ifo institute told the Augsburger Allgemeine newspaper. “The U.S. interest rate hike leads to an appreciation of…
Happy Friday, traders. Welcome to our weekly market wrap, where we look back at these last five trading days with a focus on the market news, economic data and headlines that had the most impact on the financial market – and may continue to into the future for the US Dollar and other key correlated…
Lack of alternatives set to drive dollar dominance The dollar will retain most of its recent gains for at least another six months, according to a Reuters poll of FX strategists who for years mostly held the view the greenback would weaken. Last trading just below a 20-year high it hit last week, the dollar…
Fraying central bank consensus spurs dollar and market stress The highest inflation in decades is unravelling whatever policy consensus there was between the world’s major central banks since the Great Financial Crisis and global markets could buckle under resulting waves of stress and volatility A turbo-charged dollar, which often both reflects and fuels financial market…
Gold prices pinned near 2-1/2-month low as investors await Fed meeting Gold prices dropped on Tuesday towards their lowest since mid-February, as an elevated dollar and an imminent interest rate hike by the U.S. Federal Reserve dampened bullion’s appeal as an inflation hedge. Spot gold was down 0.3% at $1,858.10 per ounce, as of 0510…
U.S. natural gas production growth wanes as need arises U.S. natural gas production growth is waning at the same time many countries are looking for new suppliers to help break their dependence on Russian gas after Moscow’s invasion of Ukraine. The United States is already the world’s largest producer of natural gas. But the two…