U.S. Dollar Gives Back Ground Following Recent Strength

RTTNews | 726 दिनों पहले

(RTTNews) - After trending higher over the past several sessions, the value of the U.S. dollar has given back some ground during trading on Monday.

The U.S. dollar index is falling 0.56 points or 0.5 percent to 104.66 after reaching its highest levels in over two months last Friday.

Currently, the greenback is trading at 136.21 yen versus the 136.48 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.0608 compared to last Friday's $1.0548.

The dollar's retreat versus the euro partly reflects concerns about the outlook for European interest rates, with some traders pricing in a terminal rate of 3.9 percent next February.

"The king dollar trade might make a comeback, but many investors are expecting the ECB to deliver more rate hikes than all of its major trading partners," said Edward Moya, senior market analyst at OANDA.

The pullback by the dollar also came following the release of some mixed U.S. economic data, including a Commerce Department report showing a sharp pullback in new orders for durable goods in the month of January.

The report said durable goods orders plunged by 4.5 percent in January after surging by a downwardly revised 5.1 percent in December.

Economists had expected durable goods orders to tumble by 4.0 percent compared to the 5.6 percent spike that had been reported for the previous month.

The steep drop by durable goods orders came as orders for transportation equipment plummeted by 13.3 percent in January after soaring by 15.8 percent in December.

Excluding orders for transportation equipment, durable goods orders climbed by 0.7 percent in January after falling by 0.4 percent in December. Economists had expected a 0.1 percent uptick.

Meanwhile, the National Association of Realtors released a separate report showing pending home sales in the U.S. spiked by much more than expected in the month of January.

NAR said its pending home sales index soared by 8.1 percent to 82.5 in January after jumping by 1.1 percent to a downwardly revised 76.3 in December.

Economists had expected pending home sales to advance by 1.0 percent compared to the 2.5 percent surge originally reported for the previous month.

टैग: USD

U.S. Consumer Sentiment Plunges To Lowest Level Since November 2023

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by much more than previously estimated in the month of February. The University of Michigan said its consumer sentiment index for February was downwardly revised to 64.7 from a preliminary reading of 67.8. Economists had expected the index to be unrevised.

RTTNews | 2 दिनों पहले

U.S. Existing Home Sales Pull Back Sharply In January

Existing home sales pulled back sharply in the month of January, according to a report released by the National Association of Realtors on Friday. NAR said existing home sales plunged by 4.9 percent to an annual rate of 4.08 million in January after surging by 2.9 percent to an upwardly revised rate of 4.29 million in December.

RTTNews | 2 दिनों पहले

U.S. Leading Economic Index Unexpectedly Decreases In January

Reversing most of the gains from the previous two months, the Conference Board released a report on Thursday showing an unexpected decrease by its reading on leading U.S. economic indicators in the month of January. The Conference Board said its leading economic index fell by 0.3 percent in January following a revised 0.1 percent uptick in December.

RTTNews | 3 दिनों पहले

Philly Fed Index Pulls Back Sharply But Still Indicates Growth In February

Philadelphia-area manufacturing activity continued to expand in the month of February, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday, although the index of activity in the sector pulled back sharply. The Philly Fed said its diffusion index for current general activity plunged to 18.1 in February after skyrocketing to 44.3 in January.

RTTNews | 3 दिनों पहले

U.S. Jobless Claims Rise More Than Expected To 219,000

A report released by the Labor Department showed a modest increase by first-time claims for U.S. unemployment benefits in the week ended February 15th. The Labor Department said initial jobless claims rose to 219,000, an increase of 5,000 from the previous week's revised level of 214,000. Economists had expected jobless claims to inch up to 215,000.

RTTNews | 3 दिनों पहले