U.S. Dollar Gives Back Ground After Yesterday's Surge

RTTNews | 16日前
U.S. Dollar Gives Back Ground After Yesterday's Surge

(RTTNews) - After surging during Wednesday's trading, the value of the U.S. dollar has shown a notable move back to the downside during trading on Thursday.

The U.S. dollar index is currently sliding 0.73 points or 0.7 percent to 104.35 after jumping by 1.6 percent to its highest levels in almost four months on Wednesday.

The greenback is trading at 152.91 yen versus the 154.63 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.0802 compared to yesterday's $1.0729.

Traders may have looked to cash in on yesterday's rally, which came on the heels of former President Donald Trump's decisive victory in the presidential election.

The pullback also came as the Federal Reserve announced its widely expected decision to lower interest rates by a quarter point.

After aggressively slashing interest rates by half a percentage point in September, the Fed said it has decided to lower the target range for the federal funds rate by 25 basis points to 4.50 to 4.75 percent.

The central bank said its decision to continue lowering rates comes as labor market conditions have generally eased, while inflation continues to make progress towards its 2 percent objective.

However, the Fed said the risks to achieving its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run are roughly in balance.

"The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate," the Fed said.

In considering future adjustments to rates, the central bank said it will continue to carefully assess incoming data, the evolving outlook, and the balance of risks.

Fed Chair Jerome Powell stressed during his post-meeting press conference that rates are not on "any preset course" and said the central bank will make future decisions "meeting by meeting."

Powell also said the Fed is "well positioned" to deal with the risks to both sides of its dual mandate, noting the it can cut rates more slowly or more quickly depending on the economic developments.

read more
U.S. Consumer Sentiment Improves Less Than Previously Estimated In November

U.S. Consumer Sentiment Improves Less Than Previously Estimated In November

Consumer sentiment in the U.S. improved less than previously estimated in the month of November, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for November was downwardly revised to 71.8 from the preliminary reading of 73.0.
RTTNews | 2日前
U.S. Leading Economic Index Falls Slightly More Than Expected In October

U.S. Leading Economic Index Falls Slightly More Than Expected In October

A reading on leading U.S. economic indicators fell by slightly more than expected in the month of October, the Conference Board revealed in a report released on Thursday. The Conference Board said its leading economic index slid by 0.4 percent in October after dipping by a revised 0.3 percent in September.
RTTNews | 3日前
U.S. Existing Home Sales Rebound More Than Expected In October

U.S. Existing Home Sales Rebound More Than Expected In October

Existing home sales in the U.S. rebounded by more than expected in the month of October, according to a report released by the National Association of Realtors on Thursday. The report said existing home sales surged by 3.4 percent to an annual rate of 3.96 million in October after slumping by 1.3 percent to a revised rate of 3.83 million in September.
RTTNews | 3日前
Philly Fed Index Unexpectedly Indicates Contraction In November

Philly Fed Index Unexpectedly Indicates Contraction In November

A report released by the Federal Reserve Bank of Philadelphia on Thursday said regional manufacturing activity softened overall in the month of November. The Philly Fed said its diffusion index for current general activity tumbled to a negative 5.5 in November from a positive 10.3 in October, with a negative reading indicating contraction.
RTTNews | 3日前
U.S. Weekly Claims Dip To Lowest Level In Over Six Months

U.S. Weekly Claims Dip To Lowest Level In Over Six Months

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended November 16th. The report said initial jobless claims slipped to 213,000, a decrease of 6,000 from the previous week's revised level of 219,000. Economists had expected jobless claims to inch up to 220,000.
RTTNews | 3日前
U.S. Weekly Claims Unexpectedly Dip To 213,000

U.S. Weekly Claims Unexpectedly Dip To 213,000

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended November 16th
RTTNews | 3日前
Fed's Barkin Warns U.S. Vulnerable To Inflation Shocks - FT

Fed's Barkin Warns U.S. Vulnerable To Inflation Shocks - FT

The U.S. economy is now more vulnerable to inflation shocks than it was in the past, Federal Reserve Bank of Richmond President Tom Barkin said in an interview to the Financial Times published on Wednesday, as businesses grow increasingly concerned about the impact of the Donald Trump administration's policies regarding tariffs and migrants.
RTTNews | 3日前