Dollar Rises Against Major Counterparts Ahead Of Eventful Week

RTTNews | 23 일 전
Dollar Rises Against Major Counterparts Ahead Of Eventful Week

(RTTNews) - The U.S. dollar suffered a mild setback in early New York session on Friday after data showing a much smaller than expected increase in non-farm payroll employment growth and an unexpected contraction in the nation's manufacturing activity last month.

However, the currency recovered swiftly and moved higher as the day progressed as investors looked ahead to the upcoming presidential election and the Federal Reserve's monetary policy announcement next week.

Data from the Labor Department showed much weaker than expected job growth in the month of October. The data said non-farm payroll employment crept up by 12,000 jobs in October after jumping by a downwardly revised 223,000 jobs in September.

Economists had expected employment to climb by 113,000 jobs compared to the surge of 254,000 jobs originally reported for the previous month.

Meanwhile, the report said the unemployment rate came in at 4.1% in October, unchanged from September and in line with economist estimates.

A report released by the Institute for Supply Management on Friday showed U.S. manufacturing activity unexpectedly contracted at a modestly faster rate in the month of October.

The ISM said its manufacturing PMI fell to 46.5 in October from 47.2 in September, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 47.6.

With the unexpected decrease, the manufacturing PMI dropped to its lowest level since hitting 46.5 in July 2023.

The dollar index climbed to 104.32, gaining 0.33%.

Against the Euro, the dollar firmed to 1.0837 after having weakened to 1.0908 earlier in the day. Against Pound Sterling, the dollar weakened to 1.2981 before recovering to 1.2921, but still trailed the previous closing value of 1.2899.

The dollar strengthened against the Japanese currency, fetching 152.98 yen a unit, compared to 152.03 yen Thursday evening. Against the Aussie, the dollar firmed to 0.6559 from 0.6583.

The Swiss franc weakened to 0.8698 a unit of U.S. dollar from 0.8634, while the Loonie was down at 1.3955 a unit of the U.S. currency.

read more
U.S. Dollar Falls Amid Risk Appetite

U.S. Dollar Falls Amid Risk Appetite

The U.S. dollar weakened against other major currencies in the Asian session on Monday amid risk appetite, following the broadly positive cues from Wall Street on Friday, boosted by strong gains in markets in Japan, Indonesia and South Korea as traders remain optimistic about a 25-basis point rate cut by the U.S. Fed in December after data showing consumer sentiment in the U.S. improved less than expected in November.
RTTNews | 5 시간 30 분 전
European Economic News Preview: German Ifo Business Confidence Data Due

European Economic News Preview: German Ifo Business Confidence Data Due

Business confidence survey data from Germany is the only major economic report due on Monday, headlining a light day for the European economic news. At 2.00 am ET, manufacturing sentiment and capacity utilization figures are due from Turkey. At 2.30 am ET, Switzerland's Federal Statistical Office releases employment data for the third quarter.
RTTNews | 6 시간 36 분 전
European Shares Set To Open On Buoyant Note

European Shares Set To Open On Buoyant Note

European stocks look set to open notably higher on Monday after U.S. President-elect Donald Trump picked hedge fund billionaire Scott Bessent as his Treasury Secretary, raising optimism he would recommend "tariffs be layered in gradually".
RTTNews | 7 시간 21 분 전
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, boosted by strong gains in markets in Japan, Indonesia and South Korea as traders remain optimistic about a 25-basis point rate cut by the US Fed in December after data showing consumer sentiment in the U.S. improved less than expected in November.
RTTNews | 9 시간 27 분 전
Sensex, Nifty Set For Gap-up Opening

Sensex, Nifty Set For Gap-up Opening

Indian shares may see a gap-up opening on Monday after BJP-led alliance scored significant victory in the Maharashtra state assembly elections, raising expectations for increased government spending to boost domestic demand.
RTTNews | 10 시간 25 분 전
Japanese Market Sharply Higher

Japanese Market Sharply Higher

The Japanese stock market is trading sharply higher on Monday, adding to the gains in the previous session. The benchmark S&P/ASX 200 is moving above the 38,900 level, following the broadly positive cues from Wall Street on Friday, with gains across most sectors led by index heavyweights, financial and technology stocks after recent data showed headline inflation slowing to a nine-month low.
RTTNews | 10 시간 34 분 전
Thai Stock Market Expected To Open In The Green On Monday

Thai Stock Market Expected To Open In The Green On Monday

The Thai stock market rebounded on Friday, one day after snapping the three-day winning streak in which it had gathered more than 20 points or 1.5 percent. The Stock Exchange of Thailand now sits just above the 1,445-point plateau and it's tipped to open to the upside again on Monday.
RTTNews | 10 시간 55 분 전