The dollar clawed back lost ground on Friday, following comments by New York Fed President John Williams, who emphasized that it is premature to discuss lowering interest rates in the United States. Earlier this week, the greenback faced a significant decline after signals from the Federal Reserve hinted at the cessation of rate hikes and […]
In a rollercoaster ride, the U.S. dollar faced turbulence on Tuesday following the publication of November’s consumer price inflation data. The U.S. Bureau of Labor Statistics reported a headline inflation rate of 3.1% year-on-year, marking a five-month low. Meanwhile, the core inflation rate held steady at 4%, aligning with market expectations. Despite the annual dip, […]
The U.S. dollar is gearing up for a critical week, where two major events could be game-changers: the release of the November inflation report on Tuesday and the highly anticipated Federal Reserve meeting on Wednesday. Market sentiment has been riding on the expectation that the Fed might slash interest rates by a whopping 100 basis […]
In a rollercoaster response to a mixed US jobs report, the dollar experienced fluctuations on Thursday, culminating in a modest change after revealing a lower unemployment rate but a sluggish pace of job creation in November. The Bureau of Labor Statistics reported that the US economy added 199,000 jobs last month, falling short of the […]
The US dollar strengthened its position, hitting a one-week high against a basket of currencies, propelled by a significant drop in job openings reported by the Labor Department’s JOLTS data. Job openings fell by 617,000 to 8.733 million in October, marking the lowest point in almost two years and missing analysts’ projections. This decline in […]
Federal Reserve Chair Jerome Powell’s recent comments hinting at a pause in interest rate hikes have impacted the U.S. dollar, causing a dip in its value on Friday. Powell acknowledged that the Fed’s monetary policy has slowed down the U.S. economy as anticipated, stating that the overnight interest rate is “well into restrictive territory.” However, […]
In a volatile market, the U.S. dollar plunged to its lowest point in three months against a basket of major currencies on Tuesday. Traders swiftly unwound their long dollar positions, anticipating key data releases on U.S. and Eurozone inflation this week. Dollar Drops By Over 3% in November The dollar index, a measure of the […]
In what was a challenging week for the greenback, the US dollar weakened against major currencies as the nation grapples with economic uncertainties and a looming debt auction. Signs of a slowing economy, coupled with disappointing labor market figures and lackluster retail sales, have cast shadows on the strength of the recovery. Traders’ Focus for […]
In a swift rebound, the dollar index surged 0.5% to 104.13 on Wednesday, staging a comeback from its recent three-month low of 103.17, fueled by insights gleaned from the Federal Reserve’s October meeting minutes. The Fed, signaling a measured approach, affirmed its commitment to the current rate-setting process, emphasizing a cautious trajectory unless inflation veers […]
