Dollar Loses Ground Against Major Counterparts After Inflation Data

RTTNews | vor 729 Tagen
Dollar Loses Ground Against Major Counterparts After Inflation Data

(RTTNews) - The U.S. dollar drifted lower against its major counterparts on Tuesday after data showing a slowdown in consumer price inflation raised hopes the Federal Reserve will pause rate increases when it announces its monetary policy decision on Wednesday.

Data from the Labor Department showed the consumer price index inched up by 0.1% in May after climbing by 0.4% in April. Economists had expected prices to tick up by 0.2%.

Core consumer prices rose by 0.4% in May, matching the increase seen in each of the two previous months as well as economist estimates.

The Labor Department also said the annual rate of consumer price growth slowed to 4% in May from 4.9% in April. The annual rate of core consumer price growth also slowed to 5.3% in May from 5.5% in April, in line with expectations.

Following the release of the report, CME Group's FedWatch Tool is indicating a 91.9% chance the Fed leaves interest rates unchanged.

The dollar index dropped to 103.05 soon after the release of the consumer inflation data, and despite recovering some lost ground subsequently, remains more than 0.3% down at 103.30.

Against the Euro, the dollar has weakened to 1.0793 from 1.0759. The dollar is weak against Pound Sterling at 1.2610, easing from 1.2514.

Against the Japanese currency, the dollar is strong, fetching 140.23 yen a unit, nearly 0.5% more than the previous close of 139.60 yen.

The dollar is weak against the Aussie at 0.6765. Against Swiss franc, the dollar has firmed to CHF 0.9051, and against the Loonie, is trading at C$1.3316, with higher oil prices strengthening the Canadian currency.

read more
European Economic News Preview: UK GDP, Foreign Trade Data Due

European Economic News Preview: UK GDP, Foreign Trade Data Due

Monthly GDP, industrial production and foreign trade from the UK are due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade figures. The economy is forecast to shrink 0.1 percent on a monthly basis in April, reversing a 0.2 percent rise in March.
RTTNews | vor 16 Minuten
Sensex, Nifty Subdued In Cautious Trade

Sensex, Nifty Subdued In Cautious Trade

Indian shares were subdued on Thursday as investors assessed U.S. President Donald Trump's declaration that a trade deal with China was "done" and that he would set unilateral tariff rates for trading partners within two weeks.
RTTNews | vor 32 Minuten
Australian Market Doubles Early Gains In Mid-market

Australian Market Doubles Early Gains In Mid-market

The Australian market is doubling its early gains in mid-market moves on Thursday, extending the gains in the previous two sessions, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains in gold miners and energy stocks partially offset by weakness in iron ore miners.
RTTNews | vor 56 Minuten
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Thursday, following the broadly negative cues from Wall Street overnight, after US President Donald Trump said he and Chinese President Xi Jinping "are going to work closely together to open up China to American Trade." However, signs of escalating geopolitical tensions in the Middle East are weighing on market sentiment.
RTTNews | vor 1Std 47 Minuten
Sensex, Nifty Seen Lower As Investors Monitor Trade, Geopolitical Developments

Sensex, Nifty Seen Lower As Investors Monitor Trade, Geopolitical Developments

Indian shares look set to open lower on Thursday as oil prices climbed on signs of rising tensions in the Middle East and U.S. President Donald Trump said he would notify trading partners within the next one to two weeks about the new unilateral tariff rates, with the choice to accept or reject them.
RTTNews | vor 2Std 24 Minuten
Rally May Stall For Thai Stock Market

Rally May Stall For Thai Stock Market

The Thai stock market has moved higher in back-to-back sessions, collecting more than 6 points or 0.6 percent along the way. The Stock Exchange of Thailand now rests just above the 1,140-point plateau although it may be stuck in neutral on Thursday.
RTTNews | vor 2Std 57 Minuten
Japanese Market Notably Lower

Japanese Market Notably Lower

The Japanese market is trading notably lower on Thursday, snapping a four-session winning streak, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 38,200 level, with weakness across most sectors led by automakers, exporters and technology stocks. Financial stocks are the only bright spot.
RTTNews | vor 3Std 19 Minuten
Indonesia Bourse May Extend Wednesday's Losses

Indonesia Bourse May Extend Wednesday's Losses

The Indonesia stock market on Wednesday ended the three-day winning streak in which it had gained almost 190 points or 2.7 percent. The Jakarta Composite Index now rests just above the 7,220-point plateau and the losses may accelerate on Thursday.
RTTNews | vor 3Std 27 Minuten