U.S. Dollar Down Amid Soft ADP Data; Powell's Speech In Focus

RTTNews | Před 793 dny
U.S. Dollar Down Amid Soft ADP Data; Powell's Speech In Focus

(RTTNews) - The U.S. dollar was lower against its most major opponents in the European session on Wednesday, as the nation's private sector job growth slowed more than expected in November and investors focused on a speech by U.S. Federal Reserve Chair Jerome Powell for more clues about the future path of monetary policy.

Data from the payroll processor ADP showed that private sector employment increased by 127,000 jobs in November after surging by an unrevised 239,000 jobs in October.

Economists had expected employment to jump by another 200,000 jobs.

Powell is scheduled to deliver a speech about the economic outlook and inflation at the Brookings Institution at 1:30 pm ET.

The Fed chair is expected to reinforce expectations for a slower pace of rate hikes from December amid signs that U.S. inflation is peaking.

The greenback was down against the euro, at 1.0392. Next key support for the greenback is possibly seen around the 1.05 level.

The greenback edged down to 0.9483 against the franc, from an 8-day high of 0.9547 set at 1:45 am ET. The currency may challenge support around the 0.92 region, if it drops again.

The greenback dropped to 1.2029 against the pound, from a 2-day high of 1.1942 seen at 6:40 pm ET. The greenback is seen finding support around the 1.22 level.

The greenback fell to 1.3496 against the loonie, 0.6250 against the kiwi and 0.6741 against the aussie, from its prior highs of 1.3594, 0.6189 and 0.6670, respectively. The next possible support for the currency is seen around 1.32 against the loonie, 0.64 against the kiwi and 0.69 against the aussie.

In contrast, the greenback firmed against the yen, touching a 6-day high of 139.68. The greenback is likely to find resistance around the 142.00 level.

At 1:30 pm ET, Federal Reserve Chair Jerome Powell will deliver a speech about the economic outlook, inflation, and the labor market at the Brooking Institution, in Washington DC.

read more
U.S. Dollar Advances Amid Trump's Tariff Threats

U.S. Dollar Advances Amid Trump's Tariff Threats

The U.S. dollar firmed against its most major counterparts in the New York session on Friday amid concerns about President Donald Trump's renewed pledge to slap 25 percent tariffs on imports from Canada and Mexico on February 1.
RTTNews | Před 10 h 31 min
Yen Rises Amid Tariff Worries

Yen Rises Amid Tariff Worries

The Japanese yen strengthened against other major currencies in the Asian session on Friday, as investor sentiment dropped on the sidelines after U.S. President Donald Trump announced that 25 percent tariffs on Canada and Mexico are coming on Saturday, although crude flows may be exempted from the levies.
RTTNews | Před 19 h 14 min
Canadian Dollar Weakens As BoC Cuts Rates

Canadian Dollar Weakens As BoC Cuts Rates

The Canadian dollar declined against its major counterparts in the New York session on Wednesday, as the Bank of Canada lowered interest rates by a quarter point, noting consumer price inflation remains close to 2 percent and the economy is in excess supply.
RTTNews | Před 2 dny
Euro Falls Amid ECB Rate Cut Speculation

Euro Falls Amid ECB Rate Cut Speculation

The euro weakened against other major currencies in the European session on Wednesday, as traders speculate that the European Central Bank (ECB) will cut its deposit rate in the policy meeting tomorrow.
RTTNews | Před 2 dny