The U.S. dollar weakened on Friday after a report showed that consumer spending, the main driver of the economy, barely rose in May while inflation moderated slightly. According to the Commerce Department, personal consumption expenditures (PCE) edged up by 0.1% month-over-month in May, missing the consensus estimate of 0.2%. On a year-over-year basis, PCE increased […]
In the latest report by the Bureau of Economic Analysis, the US GDP (gross domestic product) for the first quarter of 2023 showed a modest increase of 2.0 percent, outpacing the previous quarter’s growth rate of 2.6 percent. The revised estimate, based on more comprehensive and reliable data, exceeded earlier expectations of a mere 1.3 […]
In the midst of fragile US-China relations, the exchange rate between the US dollar and the Chinese yuan (USD/CNY) encounters significant resistance at 7.2600. This resistance level follows a recent breach of the crucial 7.0000 mark by the pair. Despite the mixed performance of the US dollar, the bullish trend of USD/CNY remains supported by […]
The U.S. dollar, a major player in the global currency arena, recorded a notable dip on Wednesday, with the DXY index slipping by around 0.45% to 103.66. Surprisingly, this happened despite the surge in U.S. Treasury yields. Things really got interesting when the Bank of Canada (BoC) made a surprise move and raised rates, catching […]
In a striking comeback, the U.S. dollar is flexing its muscles once again, fueled by the unwavering strength of the U.S. economy and the surge in Treasury yields. Despite facing a barrage of challenges, including recent banking sector turbulence, American business activity and the labor market have shown an impressive ability to weather the storm. […]
EUR/USD kicked off the week with a moderate bounce, managing to find its footing at the crucial support level of 1.0840. The currency pair’s resilience is commendable, considering the tumultuous ride it experienced last week when a resurgent US dollar and souring market sentiment exerted downward pressure. ECB Policymaker Sending Mixed Signals The European Central […]
The US dollar had a lukewarm week, slipping by 0.10% to 101.68 as positive sentiment from tech earnings boosted the equity market. However, with the Federal Reserve’s monetary policy decision and the nonfarm payrolls survey coming up, traders are advised to brace themselves for potential turbulence. The Fed is expected to raise interest rates by […]
On Tuesday, the dollar fell by 0.36% to 102.08 against a basket of currencies as investors remained cautious ahead of the release of the Consumer Price Index (CPI) data. This data is expected to reveal a 0.2% rise in headline inflation in March, while core inflation is predicted to rise by 0.4%. Investors are hoping […]
The recent gains in the US dollar against most of its peers on Thursday may have been a result of investors consolidating their positions and pondering the upcoming release of US jobs data. The highly anticipated report, scheduled to be released on Good Friday when most markets are closed, has investors on edge as they […]
