Dollar Rises Against Major Counterparts On Strong Service Sector Data

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(RTTNews) - The U.S. dollar climbed higher on Tuesday, buoyed by data showing a slightly faster pace of growth of the nation's service sector in the month of August.

A report from the Institute for Supply Management showing the services PMI unexpectedly inched up to 56.9 in August from 56.7 in July, raised the possibility of an aggressive rate hike by the Federal Reserve.

Comments from Fed officials, including Chair Jerome Powell, are likely to be in focus in the coming days along with the central bank's Beige Book.

The dollar index rose to a fresh 20-year high at 110.55 after the released of the data from ISM, and despite paring some gains subsequently, the index remains firm around 110.30, gaining about 0.7%.

Against the Euro, the dollar has firmed to 0.9903 from 0.9933.

The dollar is trading at 1.1518 against Pound Sterling, strengthening from 1.1609. The pound climbed against its most major counterparts in the European session today, as U.K. Prime Minister Liz Truss is considering a support package worth 40 billion pounds in order to help businesses to lower their energy bills.

The new government is considering two proposals, which include placing a cap on wholesale gas prices.

The other plan is a percentage or unit price reduction offered by energy suppliers to firms.

Against the Japanese currency, the dollar is stronger, fetching 142.82 yen a unit, up from 140.59 in the previous session.

The AUD/USD pair is quoting at 0.6733, down from 0.6797. The Reserve Bank of Australia today increased the cash rate by 50 basis points as widely expected.

Against Swiss franc, the dollar has firmed to CHF0.9848 from CHF0.9798.

The Loonie, moving in a tight range against the U.S. currency, is down marginally at 1.3148 a dollar.

Indonesia Shares May Reverse Tuesday's Losses

The Indonesia stock market headed south again on Tuesday, one day after snapping the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,900-point plateau although it's looking to bounce higher again on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.

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Australian Market Modestly Higher

Australian shares are trading modestly higher on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains in mining and financial stocks.

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Hong Kong Shares Expected To Open To The Upside

The Hong Kong stock market on Tuesday ended the two-day winning streak in which it had advanced more than 825 points or 3.4 percent. The Hang Seng Index now rests just above the 25,520-point plateau although it may find renewed support on Wednesday.

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Higher Open Called For China Stock Market

The China stock market on Tuesday halted the four-day winning streak in which it had rallied almost 160 points or 4.4 percent. The Shanghai Composite Index now sits just beneath the 3,870-point plateau although it may move back to the upside again on Wednesday.

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Win Streak May Continue For Taiwan Stock Market

The Taiwan stock market has tracked higher in back-to-back sessions, gathering almost 540 points or 2.2 percent along the way. The Taiwan Stock Exchange now rests just above the 24,300-point plateau and it may add to its winnings again on Wednesday.

RTTNews | 1घंटे 15 मिनट पहले

Singapore Stock Market Expected To Open In The Green

The Singapore stock market on Tuesday snapped the five-day winning streak in which it had climbed almost 70 points or 1.6 percent. The Straits Times Index now sits just above the 4,240-point plateau although it may move back above water on Wednesday.

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Malaysia Stock Market Expected To Open To The Upside On Wednesday

The Malaysia stock market on Tuesday wrote a finish to the three-day winning streak in which it had collected almost 15 points or 0.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,580-point plateau although it's likely to rebound on Wednesday.

RTTNews | 2घंटे 15 मिनट पहले

Japan Stock Market May See Renewed Support

The Japan stock market on Tuesday halted the two-day winning streak in which it had advanced almost 200 points or 0.5 percent. The Nikkei 225 now rests just beneath the 42,400-point plateau although it's expected to open in the green on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead. The Nikkei finished sharply lower on Tuesday following losses from the financial shares, technology stocks and automobile producers. For the day, the index slumped 413.42 points or 0.97 percent to finish at 42,394.40 after trading between 42,137.62 and 42,703.27. Among the actives, Nissan Motor plummeted 6.25 percent, while Mazda Motor added 0.40 percent, Toyota Motor retreated 1.41 percent, Honda Motor tumbled 1.71 percent, Softbank Group dropped 0.91 percent, Mitsubishi UFJ Financial sank 0.72 percent, Mizuho Financial shed 0.45 percent, Sumitomo Mitsui Financial skidded 1.01 percent, Mitsubishi Electric tumbled 1.91 percent, Sony Group declined 1.87 percent, Panasonic Holdings slumped 1.11 percent and Hitachi contracted 1.63 percent.

RTTNews | 2घंटे 30 मिनट पहले

EURUSD	1.16372	GBPUSD	1.34743	AUDUSD	0.65031
USDJPY	147.59	USDCAD	1.38284	USDCHF	0.80409