Dollar Extends Weakness Against Major Rivals

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Dollar Extends Weakness Against Major Rivals

(RTTNews) - The U.S. dollar shed ground against its major counterparts on Monday amid hopes the Federal Reserve will start reducing interest rates by the middle of 2024.

Recent data showing a bigger than expected drop in consumer price inflation, and an uptick in weekly jobless claims have raised expectations that the central bank will hold rates unchanged for now, and begin reducing rates sooner than earlier thought.

CME Group's FedWatch Tool currently indicates the Fed is likely to remain on hold until cutting rates beginning in mid-2004.

The dollar index dropped to 103.38 before recovering a bit to 103.50, but still trailed its previous close by about 0.4%.

Against the Euro, the dollar eased to 1.0942 from 1.0917, and traded at 1.2506 against Pound Sterling, sliding from 1.2462.

Against the Japanese currency, the dollar is flat at 148.38 yen. The Aussie firmed, fetching US$ 0.6556. Against Swiss franc, the dollar weakened to CHF 0.8849. Against the Loonie, the dollar settled little changed at C$1.3725.

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Euro Falls Against Majors

Euro Falls Against Majors

The euro weakened against other major currencies in the pre-European session on Tuesday.
RTTNews | il y a 1h 17min
European Economic News Preview: UK Mortgage Approvals Data Due

European Economic News Preview: UK Mortgage Approvals Data Due

Mortgage approvals from the UK and flash GDP from Spain are the top economic news due on Tuesday. At 3.00 am ET, Spain's statistical office INE publishes flash GDP data and retail sales figures. The economy is forecast to grow at a steady pace of 0.6 percent in the second quarter.
RTTNews | il y a 1h 53min
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian stock market is trimming is early losses in mid-market trading on Tuesday, reversing the slight gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,700 level, with weakness in financial and technology stocks partially offset by some gains in energy stocks.
RTTNews | il y a 4h 25min
Asian Markets Trade Mostly Lower

Asian Markets Trade Mostly Lower

Asian stock markets are trading mostly lower on Tuesday, following the mixed cues from Wall Street overnight, as traders remain cautious ahead of the U.S. interest rate decision later in the week and as they await the outcome of the U.S.-China trade talks. Meanwhile, several European leaders voiced concerns over the EU-U.S. trade deal, calling it 'lopsided' and 'unsustainable'.
RTTNews | il y a 4h 32min
Thai Shares Likely To Remain Rangebound

Thai Shares Likely To Remain Rangebound

Ahead of Monday's holiday for King Maha's birthday, the Thai stock market had alternated between positive and negative finishes through the last four trading days since the end of the three-day winning streak in which it had spiked more than 50 points or 4.1 percent. The Stock Exchange of Thailand now sits just above the 1,215-point plateau and it's expected to remain in that neighborhood again on Tuesday.
RTTNews | il y a 5h 48min