Dollar Slips Ahead Of Fed Policy

RTTNews | 19 ngày trước
Dollar Slips Ahead Of Fed Policy

(RTTNews) - The U.S. Dollar drifted lower against its major counterparts on Tuesday amid uncertainty about the outcome of the U.S. Presidential Election, and caution ahead of the Federal Reserve's monetary policy.

The Fed is widely expected to lower interest rates by another 25 basis points, but traders will be looking to the accompanying statement for clues about the likelihood of future rate cuts.

A report from the Institute for Supply Management showed service sector activity unexpectedly grew at an accelerated rate in the month of October.

The ISM said its services PMI rose to 56.0 in October from 54.9 in September, with a reading above 50 indicating growth. The uptick surprised economists, who had expected the index to dip to 53.8.

With the unexpected increase, the ISM's services PMI reached its highest level since hitting 56.4 in July 2022.

A separate report released by the Commerce Department showed a substantial increase in the size of the U.S. trade deficit in the month of September, as imports surged and exports slumped.

The dollar index, which dropped to a low of 103.37, was at 103.45 a little while ago, down 0.42% from the previous close.

Against the Euro, the dollar weakened to 1.0927 from 1.0879, and against Pound Sterling, it was down nearly 0.6% at 1.3032.

The dollar dropped against the Japanese currency, easing to 151.57 yen a unit. Against the Aussie, the dollar slid to 0.6638 against the Aussie from 0.6586.

The Swiss franc firmed marginally to CHF 0.8632 a dollar, while the Loonie strengthened to 1.3837 a unit of the U.S. currency.

read more
TSX Closes At New Record High

TSX Closes At New Record High

The Canadian market closed modestly higher on Friday, lifted by gains in industrials and energy stocks. Positive reaction to the nation's retails data and the recent announcement of a mini stimulus package contributed to the upside.
RTTNews | 2 ngày trước
Swiss Stocks Close On Strong Note

Swiss Stocks Close On Strong Note

Swiss stocks closed on a bright note on Friday, in line with markets across Europe, as weak manufacturing and services sector data from major European countries such as the U.K., Germany and France raised hopes that central banks will cut interest rates further to help revive growth.
RTTNews | 2 ngày trước
Canadian Market Modestly Higher In Cautious Trade

Canadian Market Modestly Higher In Cautious Trade

The Canadian market is modestly higher a little past noon on Friday with stocks turning in a mixed performance in cautious trade. Investors are digesting the latest economic data from Canada and the U.S., while continuing to follow the developments on the geopolitical front.
RTTNews | 2 ngày trước
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 ngày trước
Bay Street Seen Opening Higher

Bay Street Seen Opening Higher

The Canadian market may open higher on Friday, with materials shares finding some support on firm metal prices. Investors will also be reacting to Canadian retails sales data and U.S. producer prices report.
RTTNews | 2 ngày trước
Regulator CFPB To Consider Apple Pay, Other Digital Payment Apps As Banks

Regulator CFPB To Consider Apple Pay, Other Digital Payment Apps As Banks

The US Consumer Financial Protection Bureau or CFPB has finalized a rule to supervise Apple Inc. and other major technology firms that offer digital funds transfer and payment wallet apps, and treat them more like banks. In a statement, the US consumer watchdog said the rule on federal oversight of popular digital payment apps by the largest non-bank companies is aimed to protect personal data...
RTTNews | 2 ngày trước