Dollar Mostly Subdued Against Major Counterparts Amid Rate Cut Bets

RTTNews | 221 dias atrás

(RTTNews) - The U.S. dollar turned in a weak performance on Thursday, weighed down by dovish remarks from Federal Reserve Governor Waller that suggested.

Waller said in an interview with CNBC that inflation is getting closer to the target and three or four cuts are likely this year. "If we continue getting numbers like this, it is reasonable to think rate cuts could happen in the first half of the year," he said.

Waller added that a reduction in March cannot be ruled out, suggesting that more cuts could happen if inflation continues to ease.

Traders also digested a slew of economic data. Data from the Labor Department said initial jobless claims climbed to 217,000 in the week ended January 11th, an increase of 14,000 from the previous week's revised level of 203,000.

Economists had expected jobless claims to rise to 210,000 from the 201,000 originally reported for the previous week.

A report from the Commerce Department said retail sales rose by 0.4% in December after advancing by an upwardly revised 0.8% in November. Economists had expected retail sales to climb by 0.6% compared to the 0.7% increase originally reported for the previous month.

A report from the Labor Department said import prices inched up by 0.1% in December, matching the upticks seen in November and October as well as expectations. Meanwhile, the report said export prices climbed by 0.3% in December after coming in unchanged in November. Export prices were expected to rise by 0.2%.

The Philly Fed said its diffusion index for current general activity skyrocketed to a positive 44.3 in January from a negative 10.9 in December, with a positive reading indicating growth. Economists had expected the index to jump to a negative 5.0.

The dollar index dropped to 108.83 before recovering to 108.95, but still remained weak, losing about 0.13%.

Against the Euro, the dollar weakened to 1.0305 from 1.0292. Against Pound Sterling, the dollar gained marginally at 1.2240.

The dollar weakened against the Japanese currency to 155.14 yen, from Wednesday's close of 156.47 yen. The dollar gained marginally against the Aussie at 0.6213.

The Swiss franc firmed against the dollar to CHF 0.9056 from CHF 0.9107. Against the Loonie, the dollar strengthened to fetch C$ 1.4395 a unit, up from previous close of C$ 1.4340.

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 15 minutos atrás

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 45 minutos atrás

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | 1h 0min atrás

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1h 16min atrás