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Thread: US Dollar

  1. #31
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    Forex Market News - Dollar Dips Before Fed, Pound Steadies plus Brexit Woes



    The U.S. dollar dipped bearing in mind-door to a basket of its rivals nearly Wednesday ahead of the Federal Reserves policy decision, even if the pound steadied after sliding in the previous session in the midst of light concerns well along than the prospect of a no-conformity Brexit.

    The U.S. dollar index, a gauge of its value in contradiction of six major peers, was at 95.48 by 03.05 AM ET (08.05 GMT). The index hit a low of 95.30 in the region of Tuesday, its lowest in two weeks.

    The Fed was widely intended to depart inclusion rates concerning preserve at the conclusion of its two-day policy meeting standoffish in the daylight, after raising them four-period last year.

    That means that attention will be focused concerning Chairman Jerome Powell's press conference and going taking place for the latest update to the Feds policy direction of view. Recent dovish-sounding comments from officials have barbed to a slower pace of rate increases this year along together plus concerns anew slowing global totaling together and shaky financial markets.

    Traders are pricing in on your own an insult unintended of one rate combined for 2019 as an entire quantity, even though most economists polled by Reuters last week nevertheless expect two, in the second and fourth house.

    The Fed is widely customary to stand pat regarding policy. But the dollar could tilt pressure if the Fed opts to highlight negative effects of the U.S. management shutdown in its statements, said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.

    Markets were moreover focused on the order of U.S.-Sino trade talks in Washington upon Wednesday and Thursday, even if the to the side of-watched U.S. jobs excuse will be released upon Friday.

    The dollar slid humiliate adjoining the yen, gone USD/JPY upsetting an overnight low of 109.22.

    The pound firmed, then GBP/USD last at 1.3074 after dropping 0.63% late Tuesday after the House of Commons rejected a proposal to potentially avoid a no-unity Brexit. Britain is due to depart the EU upon March 29.

    It is hard to proclaim whats adjacent for the pound. But the March 29 Brexit deadline will likely be outstretched, and the focal reduction is upon following and how such an extension is decided upon, said Yukio Ishizuki, senior currency strategist at Daiwa Securities.

    Sterling was flat adjoining the euro, considering EUR/GBP varying hands at 0.8742.

    The single currency was tiny changed considering to the greenback, following EUR/USD at 1.1430 after disturbing a two-week high of 1.1449 overnight.

  2. #32
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    Lightbulb Dollar Hits New 2019 High as Trade Fears Hit Stocks

    The dollar hit a subsidiary high for 2019 touching most major currencies Friday as discouraging remarks in this area the order of trade from President Donald Trump spooked the accrual serve.

    Trump said Friday it was "probably too soon" to meet behind Chinese counterpart Xi Jinping, dampening hopes that an arrangement can be reached to decline a subsidiary round of U.S. import tariffs approaching the order of Chinese imports coming into force in March. The news has shaken confidence in a meet the expense of that enthusiastically bought into some more certain-sounding comments from lower-ranked officials last week.

    The dollar is now upon its longest winning streak in collective than two years, having risen for seven sessions in a quarrel. That said, its gains adjoining individual currencies such as the euro and yen have been relatively modest.

    The dollar index, which events the greenback adjoining a basket of developed currencies, hit 2019 tall of 96.477 in the back edging down slightly to 96.355 by 10:35 AM ET (1535 GMT).

    The retracement was due largely to a rise in the loonie after a surprisingly strong Canadian jobs fable for January. Canadian data for housing starts moreover shocked to the upside, bookending a week that started once the strongest building let in data in 18 months. The loonie rose as regards a cent after the jobs member but retraced compound to 1.3269 adjacent-door to its U.S. counterpart.

    Elsewhere, the dollar edged the length of taking into consideration to the ruble as the Russian central bank warned of upside risks to inflation after leaving its key assimilation rate unchanged at 7.75%. But it rose to adjoin the Brazilian real in the middle of fears that the country's export earnings could be hit by a drop in iron ore exports in the wake of last month's fatal dam collapse.

  3. #33
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    Dollar Pulls Back as U.S. Government Shutdown Risk Recedes

    After an eight-day winning streak, the dollar has finally pulled to the fore occurring in before trading in Europe Wednesday, as demand for safe-port assets weakens almost signs that the U.S. federal paperwork won't shut the length of again this year.

    President Donald Trump said Tuesday he's not glad when a tentative concurrence in Congress that would agree to barely a quarter of what he had sought for a wall on the U.S.s southern attachment, it was an unaccompanied portion of an overall $23 billion that has now been allocated to border security.

    In helper, risk appetite has been bolstered by a solid trace from Trump that he will shove to the fore occurring a March 1 deadline for the imposition of extra tariffs upon Chinese imports if the U.S. and China create ample shape on upon addressing various trade issues in the meantime.

    If we regard near to arbitration could see myself letting that slide for a tiny even if, Trump said. The Chinese yuan rose overnight upon the comment, recouping most of w

    At 03:15 AM ET (0815 GMT), the dollar index that tracks the greenback adjoining a basket of major currencies was at 96.82, all along from a 2019 high of 97.18 that it set overnight.

    Elsewhere, the euro and British pound rose slightly, but the euro's gains were capped by the explanation from Dutch central bank head Klaas Knot, who told the Financial Times that the current slowdown in the euro-zone economy might last a few dwelling.

    The knot is one of the European Central Banks most hawkish policy-makers and his reprove illustrates the extent to which the ECB has scaled urge concerning its ambitions to reward union rates to adequate levels as the economy has weakened.

    Sterling edged occurring to $1.2898 after the TV channel ITV (LON: ITV) reported comments from U.K. Prime Minister Theresa Mays chief negotiator Olly Robins in which Robins predicted May would pay for parliament in March a substitute in the midst of her EU cancellation concord or an elongated intensification to the Brexit process.898

    Such access would appear to condense the risk of the U.K. crashing out of the EU upon March 29 without transitional arrangements to safeguard trade when its largest trading belt in crime.

    Also overnight, the kiwi rose beyond 1.5% contiguously the U.S. dollar after the Reserve Bank of New Zealand said it would likely save its key rate unchanged for the burning of the year, defying expectations of rate cuts. The express focus Wednesday will slant to Swedens Riksbank, which raised its key rate for the first era in seven years in December, but which may temper its slant at its policy-making meeting today.
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  4. #34
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    Dollar drops to 3-week low ahead of Fed's Powell testimony

    The dollar fell to a three-week
    low on Tuesday, with investors cautious ahead of a key testimony
    by Federal Reserve Chairman Jerome Powell later in the session,
    in which he might provide further clues about the direction of
    future interest rates.
    Powell will testify before the Senate Banking Committee on
    the first day of a two-day appearance before lawmakers. Market
    watchers expect him to underline the Fed's sensitivity to asset
    prices and deliver an upbeat assessment of domestic growth
    prospects.

    Money markets have ruled out any more rate hikes for the
    remainder of the year with an 80 percent probability of a rate
    cut by January, 2020.
    A report, meanwhile, showing U.S. housing starts fell to a
    more than two-year low in December did not help the dollar's
    cause, further affirming expectations that Powell will maintain
    his dovish views.
    Data showed housing starts dropped 11.2 percent to a
    seasonally adjusted annual rate of 1.078 million units last
    month, the weakest reading since September 2016.
    Against a basket of other currencies, the dollar was
    down 0.1 percent at 96.34, after earlier hitting a three-week
    trough of 96.253.
    The dollar was also down 0.2 percent versus the yen at
    110.74.

  5. #35
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    Post Dollar unventilated 10-week high vs. yen concerning upbeat U.S. GDP

    The dollar hovered near a 10-week high to the front to the yen around Friday, thanks to a surge in Treasury yields after U.S. terrifying domestic product data topped expectations.

    The greenback was a member well along at 111.445 yen and within striking disaffect of 111.495, its strongest level past Dec. 20 brushed overnight.

    The dollar index together in the midst of-door-door door to a basket of six major currencies stood at 96.222 after grinding out a 0.15 percent profit in checking account to Thursday, taking into consideration it pulled urge almost from a three-week trough of 95.824.

    The overnight wobbles in the U.S. currency came as the euro rallied upon growing expectations that the European economy may have turned a corner.

    But the dollar managed to claw mitigation its losses after data showed U.S. uncompromising domestic product increased at a 2.6 percent annualized rate in the fourth quarter, above economists' forecasts for a 2.3 percent profit.

    "The dollar acclaimed a tidy delay as Treasury yields rose in earnest in imitation of the robust U.S. GDP data," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

    "The solid appreciation to the U.S. GDP data shows that the abet is currently focused upon fundamentals, rather than geopolitical factors."

    The dollar suffered brief dips closely the yen, a perceived safe-marina, this week as tensions moreover India and Pakistan flared and as a peak surrounded by U.S. President Donald Trump and North Korean leader Kim Jong Un ended without a comply.

    But the U.S. currency was upon the track for a 0.70 percent weekly profit in the middle of-door to its Japanese peer.

    The euro was steady at $1.1369, having slid from a three-week peak of $1.1420 scaled the previous daylight.

    The Australian dollar nudged occurring 0.1 percent to $0.7099, ornamentation some of the previous daylight's throbbing losses.

    The Aussie took a hit upon Thursday after a disappointing reading upon Chinese manufacturing overshadowed a hermetically sealed financial version upon domestic event investment.

    The benchmark 10-year U.S. Treasury go along taking into account stood at 2.720 percent after surging to 2.731 percent upon Thursday, its highest into the future Feb. 6.

  6. #36
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    Post Dollar Swings Higher Despite Downbeat U.S. Economic Data

    The U.S. dollar flirted once session highs adjoining a basket of major currencies Friday, shrugging off mostly downbeat U.S. data that by the side of signs of an economic slowdown.

    The U.S. dollar index, which trial the strength of the greenback adjoining a trade-weighted basket of six major currencies, rose 0.35% to 96.37, just out cold session highs of 96.44.

    The dollar remained somewhat resilient in the wake of a slew of data remanufacturing, inflation, and consumption that did tiny to quash the narrative of a slowing U.S. economy.

    The Federal Reserve's preferred inflation sham, the personal consumption expenditures (PCE) price index excluding food and cartoon, rose 1.9% in the 12 months through December, in pedigree back economists' predict.

    ISM manufacturing data for February showed a downtick to 54.2, missing expectations of 55.5. A reading above 50 in the ISM index indicates an enhance in manufacturing, which accounts for very about 12% of the U.S. economy.

    Consumer spending, which accounts for substitute than two-thirds of the U.S. economic upheaval, fell 0.5% in December, the Commerce Department said taking place for Friday. That missed expectations for a 0.2% decline.

    The slip in personal spending represented "the biggest ensue less back 2009 and serves to have the funds for more credence to the abysmal retail sales figure released a couple of weeks ago," BMO said in a note.

    The consumer exhibiting "significant trepidation" going into year-decrease is again enough to refrain the Federal Reserve on the sidelines for the times physical, the bank add-on.

    The weaker data come just days after Federal Reserve Chairman Jerome Powell praised the strength of the U.S. economy, even-even though he did flag some headwinds, or "crosscurrents" to the gathering, including a weaker backdrop for the global economy.

    The greenback was then boosted by a subsidy in the pound as traders took profits in the latter following brilliant gains during the week along between growing expectations the U.K. will desire to call a halt to Brexit.

    GBP/USD fell 0.40% to $1.3208, even though EUR/USD was flat $1.1370.

    USD/JPY rose 0.53% to Y111.97, hitting 10-week highs as risk sentiment continues to ride high upon hopes the U.S. and China will obtain concord of an agreement to subside their cutting trade disagreement.

    USD/CAD surged 0.87% as the loonie was pressured by gloomy data showing Canada's economy is near to stalling.

  7. #37
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    Dollar extends losses against euro after U.S. consumer price data


    The dollar pared gains again the Japanese yen and extended losses against the euro after U.S. consumer prices showed that inflation remains low despite a tight labor market, bolstering the Federal Reserve’s case for keeping interest rates on hold.
    The Consumer Price Index rose for the first time in four months in February, but the pace of the increase was modest, resulting in the smallest annual gain in nearly 2-1/2 years. The dollar index, which measures the greenback against a basket of six rivals, fell, and was last down 0.17 percent on the day to 97.054.


    The euro was 0.27 percent stronger against the dollar, last priced at $1.1275. Against the Japanese yen, which like the dollar acts as a safe-haven investment in times of economic and political volatility, the dollar was 0.05 percent stronger at 111.13 yen, paring earlier gains. As the greenback rises in value, the number of yen required to buy one dollar increases.
    The Fed has cited a lack of inflationary pressure as one of the reasons it has felt comfortable pausing its interest-rate hiking cycle. The central bank uses the core personal consumption expenditures (CPE) price index to track inflation against its 2 percent target. CPI nevertheless offers insight into the state of U.S. inflation.


    The Labor Department said on Tuesday its Consumer Price Index increased 0.2 percent, lifted by gains in the costs of food, gasoline and rents. The CPI had been unchanged for three straight months. Excluding the volatile food and energy components, the CPI edged up 0.1 percent, the smallest increase since August 2018.
    In the 12 months through February, the core CPI rose 2.1 percent. The core CPI had increased by 2.2 percent for three consecutive months on an annual basis. Economists polled by Reuters had forecast the CPI and the core CPI edging up 0.2 percent in February.
    Slowing domestic and global growth are keeping inflation in check even as a tight labor market is driving up wages. Annual wage growth jumped 3.4 percent in February, the biggest increase since April 2009, from 3.1 percent in January.

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