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Thread: Dollar Index

  1. #31
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    Dollar hits fresh 7-week highs after U.S. jobless Data.


    The dollar rose to fresh seven-week highs against other major currencies on Thursday, after the release of upbeat U.S. jobless claims data and as growing expectations for a March rate hike by the Federal Reserve continued to support demand for the greenback.


    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.34% at a fresh seven-week high of 102.09.The U.S. Department of Labor said initial jobless claims declined by 19,000 to 223,000 in the week ending February 25 from the previous week’s total of 242,000. Analysts expected jobless claims to rise by 1,000 to 243,000 last week.The greenback was already boosted after a number of Federal Reserve officials this week expressed their support for a March rate hike.

  2. #32
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    Dollar hits lows after Yellen's Speech.


    The dollar retreated further against a basket of major currencies on Friday, after Federal Reserve Chair Yellen hinted that a March rate hike would be ‘appropriate’.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, slumped 0.62% to 101.53, after hitting a seven-week high of 102.26 on Thursday.


    Federal Reserve Chair Janet Yellen said on Friday, she expected a gradual increase in interest rates this year and hinted that should U.S. economic data come in as expected, then further monetary tightening "would likely be appropriate" at the Fed's policy meeting on March 15. “At our meeting later this month, the committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate,” Ms. Yellen said.

  3. #33
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    Dollar index hits five-day high.


    The dollar rose to its highest level in five days, just below a two-month peak on Wednesday as data on U.S. private sector payrolls rose more than expected for February, increasing investor expectations of an increase to interest rates by the Federal Reserve later this month. U.S. private employers added 298,000 jobs last month, well above the gain of 190,000 predicted by economists surveyed by Reuters. That pushed the dollar to its highest level since March 3 against a basket of currency rivals. The euro also fell to a five-day low after the payrolls data and ahead of a meeting of the European Central Bank Thursday that market participants expect will see policy kept loose despite rising inflationary pressures. While the dollar rose after the data's release, the gains were minimal, given it has already rallied by around 2.5 percent against a basket of major currencies (DXY) over the past five weeks.The dollar index (DXY) was last up 0.2 percent at 102.03.

  4. #34
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    Dollar steadies.


    Buying from the start of European trade on Monday halted three days of losses for the dollar, the impact of higher U.S. market interest rates turning it positive on the day against both the euro and a basket of currencies. A wave of profit-taking on some of the greenback's gains of the past fortnight has been encouraged since Thursday by signs the European Central Bank is beginning to think more about how to react to an improving euro zone economy.Some ECB policymakers last week raised the possibility of increasing interest rates before it ends its emergency asset purchases although the discussion was isolated and did not enjoy any broad support, sources said on Friday. Friday's solid jobs number has still cemented the case for a rise in U.S. Federal Reserve rates this week that will long predate any European move and sees market rates far higher.Belgian central banker Jan Smets also told the Wall Street Journal that the ECB had not taken a first step toward removing stimulus."There was also always the chance that once we got a good payrolls number on Friday, the market would take some money off the table and that duly occurred," said Neil Mellor, a currency strategist with Bank of New York Mellon in London. "But the fundamentals are still behind the dollar. A lot is priced in but when you have a currency that is outstanding in terms of yield, the sell-off was always going to limited."By 0840, the dollar had recovered around a third of a cent from lows hit in Asian time to stand flat on the day at $1.0680. The dollar index was marginally higher at 101.26. Fed fund futures prices showed investors pricing in more than a 90 percent chance of an increase in U.S. overnight interest rates and the market's attention is now firmly on the scale of tightening further out.Money market pricing still stops short of three quarter-point rises this year. If the Fed can continue to move every three months, it will deliver four.

  5. #35
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    The dollar remains on the downside after U.S. data.


    The dollar remained broadly lower against other major currencies on Wednesday, despite the release of mostly positive U.S. data, as investors remained cautious ahead of the Federal Reserve’s policy decision due later in the day.The U.S. Commerce Department said the consumer price index rose 0.1% last month, meeting forecasts. Year-over-year, consumer prices increased by 2.7% in February.Core consumer prices, which exclude food and energy costs, gained 0.2% last month, in line with expectations.A separate report showed that U.S. retail sales rose 0.1% in February, in line with forecasts. Core retail sales, which exclude automobile sales, increased by 0.2% in February, in line with consensus expectations. In addition, the Federal Reserve Bank of New York said its Empire State manufacturing index slipped to 16.40 in February from 18.70 the previous month. Analysts had expected the index to decline to 15.00. Later Wednesday, the Fed was widely expected to raise interest rates by a quarter point at the conclusion of its policy meeting later Wednesday, which would put it in a range between 0.75%-1%.Investors were also focusing on Wednesday's Dutch election, which is considered as a bellwether for the spread of populism in Europe.

  6. #36
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    Dollar index slips below 100 after Fed speak.


    The dollar slipped Tuesday as Fed members signaled a slower pace of tightening than the market had been expecting.The dollar index was off 0.22% at 99.94 at 03:30 ET after a high of 100.18.Fed member Charles Evans indicated he would be comfortable with a total of three hikes this year if the U.S. economy remains on track.


    Fed member Neel Kashkari warned against rushing to raise rates.Kashkari was the sole dissenter in the FOMC's decision last week to raise its target range to 0.75%-1.0%. More Fed members are due to speak later Tuesday. Chair Janet Yellen speaks Thursday.The euro was firm above $1.07 after the French presidential elections debate on Monday.Centrist Emmanuel Macron emerged with his status as the front-runner intact. The pound steadied as Britain set to trigger Article 50 to leave the EU on March 29. U.K. inflation data are due for release later in the session.

  7. #37
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    Dollar turns positive.

    The dollar rose against a basket of major currencies on Tuesday, as investors shifted focus from Trump’s healthcare bill setback to upbeat economic data and bullish comments from Federal Reserve officials. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, gained 0.19% to 99.22. The greenback bounce back from 4-month lows, buoyed by upbeat consumer confidence data while talk of further rate hikes from Fed officials lifted sentiment. The Consumer Board Consumer Confidence Index, hit 125.6, far above expectations . Consumer confidence rose to its highest level in nearly 17 years. Meanwhile, comments from Chicago Fed President Charles Evans and Dallas Federal Reserve Bank President Robert Kaplan on Monday, added support to the greenback as both suggested that the U.S. central bank would continue on monetary tightening cycle.

  8. #38
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    Dollar holds onto moderate gains.


    The dollar held onto moderate gains against other major currencies in subdued trade on Thursday, helped by the release of positive U.S. jobless claims data, although the minutes of the Federal Reserve’s latest policy meeting continued to weigh.The U.S. Department of Labor said initial jobless claims in the week ending May 20 increased by 1,000 to 234,000 from the previous week’s total of 233,000. Analysts expected jobless claims to rise to 238,000 last week. The data came a day after the minutes of the Fed’s May meeting showed that the central bank plans to unwind its balance sheet towards the end of the year, possibly using a system where cap limits are implemented on how much the Fed would roll off every month without reinvesting. The Fed also signaled that interest rates could be raised soon, but added that "it would be prudent" to wait for more U.S. economic data. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.15% at 97.10, pulling away from Tuesday’s six-month lows of 96.70.

  9. #39
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    Dollar stabilizes after sell off


    The dollar caught its breath in early Asian trading on Monday, pulling away from last week's lows against its major rivals after the weekend passed without any missile launches by North Korea.


    Instead, North Korea observed the 69th anniversary of its founding on Saturday with a celebration honoring the scientists behind the massive nuclear test it conducted last week.




    The dollar added 0.5 percent against its perceived safe-haven Japanese counterpart to 108.38 yen, moving away from a 10-month nadir of 107.32 yen touched on Friday. The yen tends to benefit during times of economic and political uncertainty due to Japan's net creditor nation status.




    The dollar index, which tracks the U.S. unit against a basket of six major currencies, was 0.2 percent higher at 91.524 (DXY), after skidding to a 2-1/2 year low of 91.011 on Friday.

 

 
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