U.S. Dollar Advances Ahead Of Key Inflation Data

RTTNews | 10 hari yang lalu
U.S. Dollar Advances Ahead Of Key Inflation Data

(RTTNews) - The U.S. dollar climbed against its major counterparts in the New York session on Monday, as investors await upcoming U.S. inflation data and speeches by Federal Reserve officials for additional clues to the Fed's rate trajectory.

U.S. reports on consumer and producer prices, retail sales and industrial production due later in the week may provide further insights into the health of the world's largest economy as the Presidency and Senate falls into Republican hands, presenting a clear path for Trump to enact any major policy changes.

Trump won a second term as president on a platform of steep import taxes, including tariffs as high as 60 percent on China. The focus is now on how quickly Trump will implement his fiscal and protectionist trade policies.

Federal Reserve Bank of Minneapolis President Neel Kashkari indicated at the weekend that tariffs would hurt long-term inflation if global trade partners were to strike back.

According to CME Fedwatch, traders currently bet on a 65.9 percent chance for a 25-basis point rate cut in December, and a 34.1 percent chance that rates will remain unchanged.

The greenback climbed to near a 7-month high of 1.0628 against the euro and a 5-day high of 1.2855 against the pound, off its early lows of 1.0727 and 1.2925, respectively. The next possible resistance for the currency is seen around 1.06 against the euro and 1.26 against the pound.

The greenback advanced to a 4-day high of 153.94 against the yen and a 3-1/2-month high of 0.8808 against the franc, from its early lows of 152.61 and 0.8751, respectively. The currency is poised to challenge resistance around 156.00 against the yen and 0.89 against the franc.

The greenback touched 1.3950 against the loonie, setting a 5-day high. If the currency rises further, it is likely to test resistance around the 1.40 region.

The greenback recovered to 0.6565 against the aussie and 0.5952 against the kiwi, reversing from its early lows of 0.6598 and 0.5977, respectively. The currency is likely to locate resistance around 0.64 against the aussie and 0.58 against the kiwi.

read more
Canadian Dollar Climbs Against Majors

Canadian Dollar Climbs Against Majors

The Canadian dollar advanced against its most major counterparts in the New York session on Thursday amid higher oil prices, as Russia-Ukraine tensions intensified and fuelled concerns about disruption in oil supplies.
RTTNews | 7j 49min yang lalu
Yen Rises After BoJ Governor Ueda Comments

Yen Rises After BoJ Governor Ueda Comments

The Japanese yen strengthened against other major currencies in the late Asian session on Thursday, after the Bank of Japan (BoJ) indicated that the bank is prepared to raise rates once more, if the economy and prices move in line with its forecast.
RTTNews | 17j 34min yang lalu
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the late Asian session on Thursday.
RTTNews | 19j 11min yang lalu
Euro Declines Amid Ukraine-Russia Tensions

Euro Declines Amid Ukraine-Russia Tensions

The euro dropped against its major counterparts in the New York session on Wednesday, amid growing geopolitical tensions after Ukraine's use of Storm Shadow missiles supplied by Britain in Russia.
RTTNews | 1 hari yang lalu
Pound Rises As U.K. Inflation Accelerates More Than Forecast

Pound Rises As U.K. Inflation Accelerates More Than Forecast

The British pound strengthened against other major currencies in the European session on Wednesday, after U.K. consumer price inflation accelerated more than expected in October, lowering the chances of a rate cut at the upcoming monetary policy meeting in December.
RTTNews | 1 hari yang lalu
Pound Rises Against Majors

Pound Rises Against Majors

The British pound strengthened against other major currencies in the European session on Wednesday.
RTTNews | 1 hari yang lalu
Yen Falls Amid BoJ Rate Hike Uncertainty

Yen Falls Amid BoJ Rate Hike Uncertainty

The Japanese yen weakened against other major currencies in the Asian session on Wednesday, due to uncertainties over the timing of the Bank of Japan's (BoJ) next interest rate hike.
RTTNews | 1 hari yang lalu
Commodity Currencies Rise On Upbeat Crude Oil Prices

Commodity Currencies Rise On Upbeat Crude Oil Prices

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Wednesday, as the crude oil prices rose amid concerns about escalating tensions between the U.S. and Russia over the war in Ukraine after Russian President Vladimir Putin updated the nuclear doctrine.
RTTNews | 1 hari yang lalu