Dollar Rises Against Major Counterparts On Safe-haven Appeal

RTTNews | 646 dias atrás
Dollar Rises Against Major Counterparts On Safe-haven Appeal

(RTTNews) - The U.S. dollar gained against its major counterparts on Tuesday on safe-haven appeal following the release of disappointing service sector data from China, and weak euro area business activity report.

A private survey showed China's service sector grew at the slowest pace in eight months in August largely due to weaker new business.

The Caixin services Purchasing Managers' Index slipped more-than-expected to 51.8 from 54.1 in July. The expected score was 53.6.

Elsewhere, disappointing data from the euro area and the U.K. also signaled waning consumer demand and pointed to more headwinds for the global economy.

Business activity in the euro zone weakened further in August as the economic downturn extended from manufacturing to the services sector.

HCOB's final Composite Purchasing Managers' Index (PMI), compiled by S&P Global, dropped to 46.7 in August from July's 48.6, marking the lowest level since November 2020.

The U.K. services PMI dropped to 49.50 from 51.50 in July, marking the lowest reading since January.

The dollar index rose to 104.91 before easing slightly to 104.80, still up with a strong gain of about 0.55%.

Against the Euro, the dollar firmed to 1.0723 from 1.0.796. The dollar is strong against Pound Sterling at 1.2565, gaining from 1.2628.

Against the Japanese currency, the dollar has firmed to fetch 147.69 yen a unit, rising from 146.48 yen.

The dollar is up against the Aussie at 0.6380, and strengthened to CHF 0.8897 against Swiss franc. Against the loonie, the dollar is up, fetching C$1.3643 a unit.

read more
U.S. Consumer Sentiment Improves Much More Than Expected In June

U.S. Consumer Sentiment Improves Much More Than Expected In June

Preliminary data released by the University of Michigan on Friday showed a substantial improvement by consumer sentiment in the U.S. in the month of June. The University of Michigan said its consumer sentiment index surged to 60.5 in June after holding at 52.2 in May. Economists had expected the index to rise to 53.5.
RTTNews | 1h 21min atrás
CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including around 1.2 million Anker Power Banks, as well as hedge trimmers, high chairs, mattresses, pool covers and Skywalker Pro Via Ferrata Sets. China- based Anker Innovations Limited has called back about 1.16 million units of power banks citing fire and burn risks, and TTI Outdoor Power Equipment recalled...
RTTNews | 1h 44min atrás
FTSE 100 Falls Amidst Israel-Iran Conflict

FTSE 100 Falls Amidst Israel-Iran Conflict

Renewed geopolitical tensions from the Israel-Iran conflict weighed on sentiment for the FTSE 100 benchmark as it shed more than a quarter percent in Friday's trade.
RTTNews | 3h 35min atrás
Eurozone Trade Surplus Declines To 3-Month Low

Eurozone Trade Surplus Declines To 3-Month Low

Eurozone trade surplus declined to a three month low in April as demand from the US softened following tariff hikes, official data revealed on Friday. The trade surplus declined to EUR 9.9 billion in April from EUR 37.3 billion in March, Eurostat reported. This was the lowest surplus since January. In the same period last year, the surplus totalled EUR 13.6 billion.
RTTNews | 3h 50min atrás
Geopolitical Tensions Drag Down CAC 40

Geopolitical Tensions Drag Down CAC 40

An escalation in geopolitical tensions in the Middle East triggered by the Israel-Iran conflict weighed on market sentiment dragging down the CAC 40. Concerns about the trade dispute between the U.S. also weighed on sentiment.
RTTNews | 4h 31min atrás
Adobe Lifts FY25 Outlook After Higher Q2; But Stock Down

Adobe Lifts FY25 Outlook After Higher Q2; But Stock Down

Software major Adobe Inc. issued third-quarter outlook and raised its fiscal 2025 earnings and revenue targets after reporting higher second-quarter profit, above market estimates, amid strong growth in the adoption of AI-powered and creative solutions. Meanwhile, the shares were down nearly 2 in the extended trading on Thursday, and are currently losing in the pre-market activity on the NYSE.
RTTNews | 5h 7min atrás
Sensex, Nifty Follow Global Peers Lower Amid Middle East Tensions

Sensex, Nifty Follow Global Peers Lower Amid Middle East Tensions

Indian shares fell sharply on Friday, tracking weak cues from global markets after Israel launched strikes against Iran, targeting nuclear facilities and ballistic missile factories as part of efforts "to damage Iran's nuclear infrastructure, its ballistic missile factories and military capabilities."
RTTNews | 5h 22min atrás
Eurozone Industrial Output Falls For First Time In Four Months

Eurozone Industrial Output Falls For First Time In Four Months

Eurozone industrial production declined for the first time in four months in April as the positive impulse from frontloading of orders from the US faded, official data revealed Friday. Industrial output registered a monthly fall of 2.4 percent in April, offsetting March's 2.4 percent increase, Eurostat said. Production was forecast to drop 1.6 percent.
RTTNews | 5h 53min atrás