Dollar Remains Subdued

RTTNews | 675 days ago
Dollar Remains Subdued

(RTTNews) - The U.S. dollar weakened against most of its major counterparts on Monday with traders contemplating the Federal Reserve's possible moves with regard to interest rates.

The central bank is widely expected to pause its tightening cycle and a section of analysts even forecast an interest rate cut later this year.

Meanwhile, the data on consumer and producer prices, due later in the week could have a significant impact on the outlook for interest rates.

In economic news today, the Commerce Department released a report showing U.S. wholesale inventories were unexpectedly unchanged in the month of March.

The report said wholesale inventories were virtually unchanged in March, while revised data showed inventories were also unchanged in February. Economists had expected wholesale inventories to inch up by 0.1%, matching the uptick originally reported for the previous month.

The dollar index, which dropped to 101.04 in the European session, gained in strength as the day progressed and was at 101.40 a little while ago, gaining 0.18%.

Against the Euro, the dollar firmed to 1.1004 after having weakened to 1.1146.

The dollar is up against Pound Sterling at 1.2619. Against the Japanese currency, the dollar is firm at 135.11 yen, gaining from 134.86 yen.

Against the Aussie, the dollar is weak at 0.6781, down nearly 0.5%, and weak against Swiss franc as well, easing to CHF 0.8897. The dollar is little changed at C$1.3375 against the Loonie.

read more
UK Economy Contracts Unexpectedly On Weaker Production

UK Economy Contracts Unexpectedly On Weaker Production

The UK economy logged an unexpected contraction at the start of the year on a sharp fall in production, official data revealed on Friday. Gross domestic product shrank 0.1 percent on a monthly basis in January, following a growth of 0.4 percent in December, the Office for National Statistics reported. GDP was expected to grow 0.1 percent.
RTTNews | 5h 7min ago
Asian Shares Advance As US Shutdown Worries Ease

Asian Shares Advance As US Shutdown Worries Ease

Asian stocks ended mostly higher on Friday after U.S. Senate Minority Leader Chuck Schumer said he plans to vote for a Republican bill to fund the government through September, helping ease worries about a potential federal government shutdown.
RTTNews | 5h 13min ago
Yen Falls Amid Uncertainty Over BoJ Policy

Yen Falls Amid Uncertainty Over BoJ Policy

The Japanese yen weakened against other major currencies in the Asian session on Friday, as the Bank of Japan (BoJ) is anticipated to keep interest rates steady next week as a way to evaluate the risks of escalating U.S. trade tensions.
RTTNews | 5h 58min ago
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Friday.
RTTNews | 7h 48min ago
European Shares Seen Up As US Government Shutdown Worries Ease

European Shares Seen Up As US Government Shutdown Worries Ease

European stocks are likely to open higher on Friday amid signs the U.S. may avert a looming government shutdown after Senate Democratic leader Chuck Schumer announced he's ready to start the process of considering a Republican-led government funding bill that has fiercely divided Democrats.
RTTNews | 8h 7min ago
Dr. Reddy's Labs Recalls Levetiracetam In Sodium Chloride Injection

Dr. Reddy's Labs Recalls Levetiracetam In Sodium Chloride Injection

Dr. Reddy's Laboratories Ltd. is recalling Levetiracetam in 0.75% Sodium Chloride Injection in the United States citing mislabeling of infusion bag, according to the U.S. Food and Drug Administration. The recall involves one Batch/Lot No: A1540076 of Levetiracetam in 0.75% Sodium Chloride Injection, 1,000 mg/100 mL (10 mg/mL) single-dose infusion bags to the consumer level.
RTTNews | 8h 50min ago