Dollar Extends Losses Against Major Counterparts

RTTNews | 363 days ago
Dollar Extends Losses Against Major Counterparts

(RTTNews) - Despite data showing a bigger than expected increase in U.S. Producer Price Index, the U.S. dollar fell on Friday, extending recent losses, on rising prospects of an interest rate cut by the Federal Reserve amid signs of cooling consumer price inflation.

A report from the Labor Department said its producer price index for final demand rose by 0.2% in June following a revised unchanged reading in May. Economists had expected producer prices to inch up by 0.1% compared to the 0.2% dip originally reported for the previous month.

The report also said the annual rate of producer price growth accelerated to 2.6% in June from an upwardly revised 2.4% in May. The annual rate of producer price growth was expected to creep up to 2.3% from the 2.2% originally reported for the previous month.

The Labor Department's data on Wednesday said U.S. consumer price index slipped by 0.1% in June after coming in unchanged in May. Economists had expected consumer prices to inch up by 0.1%.

The report also said the annual rate of consumer price growth slowed to 3% in June from 3.3% in May. Economists had expected the pace of price growth to decelerate to 3.1%. The annual rate of core consumer price growth also slowed to 3.3% in June from 3.4% in May. The pace of growth was expected to remain unchanged.

The dollar index dropped to 104.04, down nearly 0.4% from the previous close.

Against the Euro, the dollar weakened to 1.0909 from 1.0869, and against Pound Sterling, it fell more than 0.5% to 1.2986.

The dollar was down against the Japanese currency at 157.91 yen. The Aussie firmed against the U.S. dollar, fetching 0.6784 a unit.

Against Swiss franc, the dollar weakened to CHF 0.8944. The Loonie edged down marginally to 1.3637 a unit of the American currency.

read more
Higher Open Called For Indonesia Stock Market

Higher Open Called For Indonesia Stock Market

The Indonesia stock market has moved higher in four straight sessions, gathering almost 140 points or 2 percent along the way. The Jakarta Composite Index now sits just above the 7,000-point plateau and it's looking at a steady start again on Friday.
RTTNews | 21 minutes ago
Japanese Market Modestly Higher

Japanese Market Modestly Higher

Reversing the losses in the previous session, the Japanese market is modestly higher on Friday, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 39,700 level, with gains in exporters and technology stocks.
RTTNews | 31 minutes ago
Hong Kong Shares Tipped To Open In The Green

Hong Kong Shares Tipped To Open In The Green

The Hong Kong stock market has moved higher in two of three trading days since the end of the three-day losing streak in which it had dropped more than 330 points or 1.4 percent. The Hang Seng Index now sits just beneath the 24,030-point plateau and it may see additional support on Friday.
RTTNews | 36 minutes ago
Australian Market Slightly Higher

Australian Market Slightly Higher

The Australian stock market is trading slightly higher on Friday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying just below the 8,600 level, with gains in iron ore miner stocks partially offset by weakness in gold miner and financial stocks.
RTTNews | 51 minutes ago
China Bourse May Extend Thursday's Gains

China Bourse May Extend Thursday's Gains

The China stock market bounced higher again on Thursday, one day after snapping the four-day winning streak in which it had risen almost 45 points or 1.3 percent. The Shanghai Composite Index now sits just beneath the 3,510-point plateau and it may add to its winnings on Friday.
RTTNews | 51 minutes ago
Soft Start Expected For Taiwan Stock Market

Soft Start Expected For Taiwan Stock Market

The Taiwan stock market has moved higher in back-to-back sessions, collecting more than 330 points or 1.5 percent in that span. The Taiwan Stock Exchange now sits just beneath the 22,700-point plateau although it may run out of steam on Friday.
RTTNews | 1h 21min ago
Rally May Stall For Singapore Stock Market

Rally May Stall For Singapore Stock Market

The Singapore stock market has moved higher in four straight sessions, improving more than 60 points or 1.5 percent along the way. The Straits Times Index now rests just above the 4,075-point plateau although it may run out of steam on Friday.
RTTNews | 1h 51min ago