Dollar Turns In Mixed Performance Against Major Rivals

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(RTTNews) - After staying weak till about an hour past noon, the U.S. dollar made some progress up north on Tuesday, but a significant uptick still remained elusive as traders looked for direction.

The U.S. dollar was notably lower in the Asian session on Wednesday, and despite seeing a gradual recovery thereafter, still stayed somewhat sluggish with traders tracking Covid-related news from China, and looking ahead to the crucial jobs data, due later in the week.

Hawkish comments from St. Louis Fed President James Bullard and New York Fed President John Williams helped the dollar's cause a bit. Both Bullard and Williams reiterated their hawkish stance on further rate hikes.

Optimism surrounding China's reopening offset rate-hike fears and weighed on the greenback. China reported a slight dip in new COVID-19 infections and also stepped-up support for the country's property sector.

In U.S. economic news, the Conference Board released a report on Tuesday showing a modest decrease in U.S. consumer confidence in the month of November.

The Conference Board said its consumer confidence index dipped to 100.2 in November from a revised 102.2 in October. Economists had expected the index to slip to 100.0 from the 102.5 originally reported for the previous month.

The modest decrease by the headline index came as the present situation index edged down to 137.4 in November from 138.7 in October.

The dollar index, which dropped to 106.06 in the Asian session, climbed to 106.88, gaining nearly 0.2%.

Against the Euro, the dollar firmed to 1.0327, after having weakened to 1.0396 earlier in the day.

The dollar is up marginally against Pound Sterling at $1.1951.

Against the Japanese currency, the dollar is weak at 138.69 yen, compared with 138.93 yen on Monday.

The dollar is weak against the Aussie at 0.6688, easing from 0.6653.

Against Swiss franc, the dollar has firmed to CHF 0.9535, up nearly 0.5% over the previous close.

The dollar is stronger against the loonie, fetching C$1.3580 a unit, compared with C$1.3469 on Monday.

Swiss Markets Ends Slightly Weak

The Swiss market edged down marginally on Friday with stocks paring gains in late afternoon trade as investors chose to take some profits following a long winning streak. Data showing a stronger than expected jump in the nation's retail sales aided sentiment.

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Major European Markets Close Slightly Higher

European stocks saw some profit taking in late afternoon trades on Friday, but the major markets in the region still managed to close slightly up. Investors assessed recent economic data, earnings news, and monetary policy announcements of the Federal Reserve and the European Central Bank.

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Canadian Market Down Marginally In Cautious Trade; Tech Stocks Move Higher

The Canadian market is up in positive territory a little past noon on Friday with the benchmark S&P/TSX Composite Index hovering near record high, thanks largely to strong buying in the technology sector after encouraging earnings updates from big name U.S. companies such as Apple Inc. and Meta Platforms.

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U.S. Dollar Advances Amid Trump's Tariff Threats

The U.S. dollar firmed against its most major counterparts in the New York session on Friday amid concerns about President Donald Trump's renewed pledge to slap 25 percent tariffs on imports from Canada and Mexico on February 1.

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ECB Surveys Show Rising Eurozone Inflation Expectations

Euro area consumers' inflation expectations for the next 12 months increased for a third straight month in December, while professional forecasters revised up the projections for this year and next, separate surveys by the European Central Bank showed on Friday.

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Chicago Business Barometer Increases But Still Indicates Contraction

MNI Indicators released a report on Friday showing its reading on Chicago-area business activity increased in the month of January but continued to indicate contraction. The report said the Chicago business barometer rose to 39.5 in January from 36.9 in December, although a reading below 50 still indicates contraction. Economists had expected the index to climb to 40.0.

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U.S. Consumer Price Growth Matches Estimates In December

The Commerce Department released a closely watched report on Friday showing consumer prices in the U.S. increased in line with economist estimates in the month of December. The report said the personal consumption expenditures (PCE) price index rose by 0.3 percent in December after inching up by 0.1 percent in November. The increase matched expectations.

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Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note on Friday with investors reacting to the nation's GDP data, and treading cautiously ahead of the February 1 deadline for the imposition of trade duties on Canada.

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EURUSD	1.03689	GBPUSD	1.23901	AUDUSD	0.62102
USDJPY	155.18	USDCAD	1.45195	USDCHF	0.91077