Dollar Rises Against Major Counterparts On Strong Service Sector Data

RTTNews | vor 858 Tagen

(RTTNews) - The U.S. dollar climbed higher on Tuesday, buoyed by data showing a slightly faster pace of growth of the nation's service sector in the month of August.

A report from the Institute for Supply Management showing the services PMI unexpectedly inched up to 56.9 in August from 56.7 in July, raised the possibility of an aggressive rate hike by the Federal Reserve.

Comments from Fed officials, including Chair Jerome Powell, are likely to be in focus in the coming days along with the central bank's Beige Book.

The dollar index rose to a fresh 20-year high at 110.55 after the released of the data from ISM, and despite paring some gains subsequently, the index remains firm around 110.30, gaining about 0.7%.

Against the Euro, the dollar has firmed to 0.9903 from 0.9933.

The dollar is trading at 1.1518 against Pound Sterling, strengthening from 1.1609. The pound climbed against its most major counterparts in the European session today, as U.K. Prime Minister Liz Truss is considering a support package worth 40 billion pounds in order to help businesses to lower their energy bills.

The new government is considering two proposals, which include placing a cap on wholesale gas prices.

The other plan is a percentage or unit price reduction offered by energy suppliers to firms.

Against the Japanese currency, the dollar is stronger, fetching 142.82 yen a unit, up from 140.59 in the previous session.

The AUD/USD pair is quoting at 0.6733, down from 0.6797. The Reserve Bank of Australia today increased the cash rate by 50 basis points as widely expected.

Against Swiss franc, the dollar has firmed to CHF0.9848 from CHF0.9798.

The Loonie, moving in a tight range against the U.S. currency, is down marginally at 1.3148 a dollar.

TSX Ends Notably Lower As Stocks Drop On Interest Rate Concerns

The Canadian market closed notably lower on Friday, hurt by rising bond yields, and fading optimism about interest rate cuts by the Federal Reserve after data showed stronger-than-expected growth in U.S. non-farm payroll employment. Canadian employment data too came in stronger than expected, reducing prospects of any significant monetary easing by the Bank of Canada.

RTTNews | vor 1 Tagen

Dollar Climbs Higher After Buoyant Jobs Data

The U.S. dollar firmed against its major counterparts on Friday amid fading hopes of further reductions in interest rates after data from the Labor Department showed stronger-than-expected growth in non-farm payroll employment in the month of December.

RTTNews | vor 1 Tagen

U.S. Stocks Close Sharply Lower As Strong Jobs Data Raises Interest Rate Concerns

U.S. stocks tumbled on Friday due to heavy selling across the board as buoyant non-farm payroll data raised concerns that the Federal Reserve will likely hold interest rates at current levels or slow down the pace of reductions. Rising bond yields hurt as well.

RTTNews | vor 1 Tagen

Swiss Market Ends Notably Lower

The Switzerland market settled notably lower on Friday, in line with markets across Europe, as upbeat U.S. jobs data raised concerns that the Federal Reserve will likely hold interest rates unchanged from current levels, or go slow on interest rate cuts this year. Data showing an increase in Swiss unemployment weighed as well.

RTTNews | vor 1 Tagen

U.S. Dollar Firms As Strong Jobs Data Dampens Rate Cut Hopes

The U.S. dollar climbed against its most major counterparts in the New York session on Friday, as stronger-than-expected jobs data for December strengthened expectations that the Federal Reserve will hold rates steady for sometime.

RTTNews | vor 1 Tagen

European Stocks Close Lower As Strong U.S. Jobs Data Fuels Interest Rate Concerns

European stocks closed lower on Friday after stronger-than-expected U.S. jobs data raised concerns that the Federal Reserve will hold interest rates at current levels for longer. Higher Euro zone bond yields, and potential tariff hikes by the U.S. weighed as well on investor sentiment.

RTTNews | vor 1 Tagen

Canadian Stocks Tumble As Upbeat Jobs Data Raises Interest Rate Concerns

Canadian stocks are down sharply on Friday with stronger-than-expected U.S. jobs data raising concerns that the Federal Reserve will likely hold interest rates unchanged from current levels for sometime. Also, a buoyant Canadian employment reports has dimmed the prospects for further easing by the Canadian central bank for now.

RTTNews | vor 1 Tagen

U.S. Consumer Sentiment Edges Lower In January As Inflation Expectations Surge

Consumer sentiment in the U.S. has unexpectedly seen a modest deterioration in the month of January, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index edged down to 73.2 in January from 74.0 in December. Economists had expected the index to inch up to 74.5.

RTTNews | vor 1 Tagen

EURUSD	1.02441	GBPUSD	1.22097	AUDUSD	0.61461
USDJPY	157.737	USDCAD	1.44282	USDCHF	0.91664