Dollar Recovers From Recent Losses, Posts Gains Again Major Rivals

RTTNews | 569 days ago
Dollar Recovers From Recent Losses, Posts Gains Again Major Rivals

(RTTNews) - The U.S. dollar firmed against its major counterparts on Tuesday, after the minutes from the Federal Reserve's latest monetary policy meeting signaled interest rates will remain at a restrictive level for now.

The minutes of the October 31-November 1 meeting said participants agreed policy should remain restrictive until inflation is clearly moving down sustainably toward the Fed's 2% objective.

Following the recent series of interest rate hikes, participants also agreed to proceed carefully and take a data-dependent approach to future policy decisions.

"Participants noted that further tightening of monetary policy would be appropriate if incoming information indicated that progress toward the Committee's inflation objective was insufficient," the Fed said.

The Fed also said participants expect data arriving in coming months to help clarify the extent to which the disinflation process was continuing.

On the economic front, the National Association of Realtors released a report showing existing home sales in the U.S. tumbled by much more than expected in the month of October

NAR said existing home sales plummeted by 4.1% to an annual rate of 3.79 million in October after plunging by 2.2% to a revised rate of 3.95 million in September.

Economists had expected existing home sales to slump by 1.5% to a rate of 3.90 million from the 3.96 million originally reported for the previous month.

The dollar index, which climbed to 103.71 a few minutes before the Fed released the minutes of its latest policy meeting, dropped a bit to 103.58, but still remained above the flat line, gaining about 0.14%.

Against the Euro, the dollar firmed to 1.0914. Against Pound Sterling, the dollar was weak at 1.2538, giving up about 0.25%.

The dollar was little changed against the Japanese currency at 148.39 yen. Against the Aussie, the dollar is trading at 0.6557, and against Swiss franc, it is weak at CHF 0.8838.

The Loonie has strengthened against the dollar to C$ 1.3700, recovering from early weakness.

read more
Thai Stock Market May Erase Thursday's Losses

Thai Stock Market May Erase Thursday's Losses

The Thai stock market on Thursday ended the two-day winning streak in which it had risen more than 6 points or 0.6 percent. The Stock Exchange of Thailand now rests just beneath the 1,130-point plateau and it's expected to open higher on Friday.
RTTNews | 55 minutes ago
Indonesia Shares May Move Higher On Friday

Indonesia Shares May Move Higher On Friday

The Indonesia stock market has moved lower in back-to-back sessions, slipping more than 25 points or 0.4 percent in that span. The Jakarta Composite Index now rests just above the 7,200-point plateau although it may find support on Friday.
RTTNews | 1h 25min ago
Japanese Market Sharply Lower

Japanese Market Sharply Lower

Extending the losses in the previous session, the Japanese market is sharply lower on Friday, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling below the 37,600 level, with weakness across most sectors led by index heavyweights, exporters and technology stocks.
RTTNews | 1h 27min ago
Little Movement Seen For Hong Kong Stock Market

Little Movement Seen For Hong Kong Stock Market

The Hong Kong stock market has alternated between positive and negative finishes through the last five trading days since the end of the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,030-point plateau and it's likely to remain rangebound on Friday.
RTTNews | 1h 40min ago
Australian Market Slightly Lower

Australian Market Slightly Lower

The Australian stock market is trading slightly lower on Friday after opening in the green, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 8,600 level, with weakness is technology stocks partially offset by gains in gold miners and energy stocks.
RTTNews | 1h 50min ago
China Stock Market May Add To Its Winnings On Friday

China Stock Market May Add To Its Winnings On Friday

The China stock market has moved higher in back-to-back sessions, collecting more than 15 points or 0.4 percent in that span. The Shanghai Composite Index now sits just above the 3,400-point plateau and it's expected to see continued strength on Friday.
RTTNews | 1h 55min ago
Taiwan Shares May Bounce Higher Again On Friday

Taiwan Shares May Bounce Higher Again On Friday

The Taiwan stock market on Thursday ended the three-day winning streak in which it had rallied more than 810 points or 3.6 percent. The Taiwan Stock Exchange now sits just beneath the 22,290-point plateau and it may see renewed support on Friday.
RTTNews | 2h 25min ago