Dollar Recovers After Early Setback, Gains Against Some Major Rivals

RTTNews | vor 658 Tagen
Dollar Recovers After Early Setback, Gains Against Some Major Rivals

(RTTNews) - The U.S. dollar tumbled Thursday morning after data showed the nation's annual inflation rose less than expected in July, raising expectations that the Federal Reserve will leave interest rates unchanged next month.

However, the dollar recovered as the session progressed and scored gains against some of its major counterparts.

Data from the Labor Department showed consumer price growth accelerated to 3.2% in July from 3% in June, while economists had expected the pace of price growth to accelerate to 3.3%.

The Labor Department also said its consumer price index rose by 0.2% on a monthly basis in July, matching the uptick seen in June as well as expectations.

Excluding food and energy prices, core consumer prices also rose by 0.2% for the second straight month in July, in line with estimates. Meanwhile, the annual rate of growth by core consumer prices slowed to 4.7% in July from 4.8% in June. The rate of growth was expected to be unchanged.

While the data reinforced expectations the Federal Reserve will leave interest rates unchanged next month, economists suggested "sticky" core inflation could leave the door open for the Fed to resume raising rates in November.

A separate Labor Department report showed first-time claims for U.S. unemployment benefits rose by much more than expected in the week ended August 5th.

The report said initial jobless claims climbed to 248,000, an increase of 21,000 from the previous week's unrevised level of 227,000. Economists had expected jobless claims to inch up to 230,000.

The dollar index, which fell to 101.78, recovered subsequently and was last seen at 102.65, gaining about 0.15%.

Against the Euro, the dollar is down marginally at 1.0983, recovering from 1.1066. The dollar is firm against Pound Sterling at 1.2677, after having weakened to 1.2819 in early New York session.

Against the Japanese currency, the dollar is stronger at 144.78 yen, gaining from 143.73 yen. The dollar is up slightly against the Aussie at 0.6520. The Swiss franc is up marginally against the dollar at CHF 0.8768, while the Loonie is weak against the dollar at C$ 1.3445.

read more
Win Streak May Continue For Singapore Stock Market

Win Streak May Continue For Singapore Stock Market

The Singapore stock market has moved higher in three straight sessions, advancing more than 40 points or 1 percent along the way. The Straits Times Index now sits just above the 3,915-point plateau and it may add to its winnings again on Friday.
RTTNews | vor 19 Minuten
Japan Jobless Rate Holds Steady At 2.5%

Japan Jobless Rate Holds Steady At 2.5%

The unemployment rate in Japan came in at a seasonally adjusted 2.5 percent in April, the Ministry of Internal Affairs and Communications said on Friday.
RTTNews | vor 38 Minuten
Malaysia Stock Market Tipped To End Losing Streak

Malaysia Stock Market Tipped To End Losing Streak

The Malaysia stock market has moved lower in four straight sessions, slipping more than 15 points or 1.1 percent in that span. The Kuala Lumpur Composite Index now sits just beneath the 1,520-point plateau although it's due for support on Friday.
RTTNews | vor 49 Minuten
Mild Upside Seen For Japan Stock Market

Mild Upside Seen For Japan Stock Market

The Japan stock market bounced higher again on Thursday, one day after ending the three-day winning streak in which it had collected almost 750 points or 2 percent. The Nikkei 225 now sits just above the 38,430-point plateau and it may open to the upside again on Friday.
RTTNews | vor 1Std 4 Minuten
South Korea Industrial Output Slumps 0.8% In April

South Korea Industrial Output Slumps 0.8% In April

Industrial production in South Korea was down a seasonally adjusted 0.8 percent on month in April, Statistics Korea said on Friday. That missed expectations for an increase of 0.5 percent following the 2.9 percent jump in March.
RTTNews | vor 1Std 6 Minuten
South Korea Stock Market Tipped To Open In The Green

South Korea Stock Market Tipped To Open In The Green

The South Korea stock market has moved higher in two straight sessions, improving more than 80 points or 3.1 percent along the way. The KOSPI now rests just above the 2,720-point plateau and it may tick higher again on Friday.
RTTNews | vor 1Std 19 Minuten
New Zealand Building Consents Slump 15.6% In April

New Zealand Building Consents Slump 15.6% In April

The total number of building permits issued in New Zealand was down a seasonally adjusted 15.6 percent on month in April, Statistics New Zealand said on Friday - following the 10.7 percent increase in March. In April, there were 2,418 new dwellings consented, comprising: 1,148 stand-alone houses; 1,105 townhouses, flats, and units; 85 retirement village units; and 80 apartments.
RTTNews | vor 1Std 32 Minuten