Dollar Strengthens Amidst Fear of a U.S. Government Shutdown
In the realm of U.S. equity markets, the dominant theme remains the Federal Reserve's resolute hawkish stance, indicating an enduring era of monetary tightening.
The Euro (EUR/USD) tumbled 0.8% lower to 1.0887 (1.0975) weighed by a soft Eurozone Inflation report. The Dollar Index (DXY), which measures the value of the Greenback against a basket of 6 major currencies rebounded to 103.55 from 102.80.
ACY Securities | 19h 34min ago
Despite OPEC+ announces production cuts, oil traders remain skeptical, resulting in a nearly 3% overnight plunge in oil prices. The voluntary nature of these cuts, coupled with Angola's rejection, raises questions about their effectiveness.
PU Prime | 23h 54min ago
The November rate hike decision was a pointed way to impact consumer inflation, which rose 5.6% in September, up from 5.2% and 4.9% in August and July, respectively. Current price rises and general economic conditions in Australia give the RBA a reason to resume its pause in interest rate hikes.
OctaFX | 1 day ago
The value of the United States dollar has experienced a significant decline, with the DXY index nearing a 4% drop on a month-to-date basis. If this trend persists, it could mark the most substantial monthly decrease in the dollar's performance since November of the previous year.
ACY Securities | 1 day ago
The Dollar Index slumped while gold and silver prices soared on hopes that the Fed may start easing policy sooner than expected. Meantime the Kiwi (NZD/USD) found its wings, soaring 0.55% against the Dollar ahead of today’s RBNZ rate decision. New Zealand’s Reserve Bank is expected to keep its Official Cash Rate at 5.5%.
ACY Securities | 2 days ago