Dollar Rises Against Major Counterparts

RTTNews | vor 527 Tagen

(RTTNews) - The U.S. dollar climbed higher on Monday, lifted by recent data showing an increase in the annual rate of consumer price growth, and comments from Federal Reserve Chair Jerome Powell that the central bank is in no hurry to cut rates, and is content to remain in wait-and-watch mode.

Data released by the Commerce Department on Friday showed the annual rate of consumer price growth ticked up to 2.5% in February from 2.4% in January, in line with estimates.

Meanwhile, the annual rate of growth by core consumer prices, which exclude food and energy prices, slowed to 2.8% in February from an upwardly revised 2.9% in January. Economists had expected the pace of core price growth to come in unchanged compared to the 2.8% originally reported for the previous month.

After the inflation data, Fed Chair Jerome Powell said that the central bank will not overreact to the data, suggesting the bank is content to remain in wait-and-watch mode.

A report released by the Institute for Supply Management this morning showed a modest growth in U.S. manufacturing activity in the month of March, contributing to a jump in Treasury yields.

The ISM said its manufacturing PMI jumped to 50.3 in March from 47.8 in February, with a reading above 50 indicating growth in the sector. Economists had expected the index to inch up to 48.4.

With the much bigger than expected increase, the index returned to expansion territory for the first time since September 2022.

The dollar index, which advanced to 105.08, was at 104.97 a little while ago, gaining about 0.4%.

Against the Euro, the dollar firmed to 1.0744 from 1.0798. Against Pound Sterling, the dollar strengthened to 1.1551, gaining from 1.2626.

The dollar gained against the Japanese currency, rising to 151.65 yen a unit. The Aussie weakened against the dollar with the AUD/USD pair trading at 0.6488. Against Swiss franc, the dollar firmed, fetching CHF 0.9043 a unit, up from CHF 0.9016. The dollar was up against the Loonie at C$ 1.3573.

Swiss Market Ends Moderately Lower

After a brief spell in positive territory early on in the session on Wednesday, the Switzerland market turned a bit easy and moved along the flat line till around mid afternoon before losing ground to eventually close on a negative note.

RTTNews | vor 1Std 14 Minuten

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Wednesday as investors digested data showing a modest drop in U.S. producer prices in the month of August, and continued to assess the developments on the trade front. Some of the major markets started off on a firm note, but failed to sustain at higher levels.

RTTNews | vor 1Std 44 Minuten

U.S. Wholesale Inventories Inch Up 0.1% In July, Slightly Less Than Expected

Wholesale inventories in the U.S. increased slightly less than expected in the month of July, according to a report released by the Commerce Department on Wednesday. The Commerce Department said wholesale inventories crept up by 0.1 percent in July after rising by an upwardly revised 0.2 percent in June.

RTTNews | vor 4Std 57 Minuten

U.S. Producer Prices Unexpectedly Edge Slightly Lower In August

Largely reflecting a sharp pullback in prices for trade services, the Labor Department released a report on Wednesday unexpectedly showing a modest decrease by U.S. producer prices in month of August. The Labor Department said its producer price index for final demand edged down by 0.1 percent in August after climbing by a downwardly revised 0.7 percent in July.

RTTNews | vor 5Std 19 Minuten

U.S. Producer Prices Unexpectedly Edge Down 0.1% In August

Largely reflecting a sharp pullback in prices for trade services, the Labor Department released a report on Wednesday unexpectedly showing a modest decrease by producer prices in the U.S. in the month of August.

RTTNews | vor 6Std 38 Minuten

Bay Street Seen Opening Higher

Canadian stocks are likely to open higher on Wednesday, tracking firm oil and metal prices. The mood may change a bit cautious at higher levels with investors looking ahead to the crucial U.S. inflation data, due later in the week.

RTTNews | vor 6Std 47 Minuten

Major European Markets In Positive Territory In Cautious Trade

The major European markets are up in positive territory on Wednesday with investors picking up stocks amid continued optimism about a sharp rate cut by the Federal Reserve following recent weak labor market data. Easing concerns on the trade front also contribute to the positive sentiment in the markets.

RTTNews | vor 7Std 20 Minuten

Sensex, Nifty Close On Firm Note Again

Indian stocks closed on a positive note on Wednesday, extending previous session's gains, amid expectations of further reduction in GST rates, and hopes of a larger than expected interest rate cut by the Federal Reserve.

RTTNews | vor 8Std 10 Minuten

EURUSD	1.16998	GBPUSD	1.35303	AUDUSD	0.66157
USDJPY	147.364	USDCAD	1.38636	USDCHF	0.79897