Dollar Gains Against Major Counterparts On Rate Hike Bets

RTTNews | 783 dias atrás

(RTTNews) - The U.S. dollar firmed against most of its major counterparts on Tuesday after stronger-than-expected housing starts and building permits data raised expectations for a rate hike by the Federal Reserve next month.

The Commerce Department's report showed new residential construction in the U.S. unexpectedly skyrocketed in the month of May.

The report said housing starts soared by 21.7% to an annual rate of 1.631 million in May after tumbling by 2.9% to a revised rate of 1.340 million in April. Economists had expected housing starts to edge down to a rate of 1.400 million from the 1.401 million originally reported for the previous month.

The report said building permits also surged by 5.2% to an annual rate of 1.491 million in May after slumping by 1.4% to a revised rate of 1.417 million in April.

Building permits, an indicator of future housing demand, were expected to rise to a rate of 1.423 million from the 1.416 million originally reported for the previous month.

Investors are now pricing in a 71.9% chance of a 25 basis point increase at the Fed's next meeting in July.

Traders look ahead to congressional testimony by Federal Reserve Chair Jerome Powell, for additional clues about the outlook for rates after the Fed signaled further rate hikes last week.

Powell is due to testify before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday.

The dollar index, which climbed to 102.79 after the release of housing starts and building permits data, later dropped to 102.53, up just slightly from the previous close.

Against the Euro, the dollar firmed to 1.0893 before paring some gains. The dollar is currently trading at 1.0918 against the Euro.

The dollar is trading at 1.2766 against Pound Sterling, gaining from 1.2794. Against the Japanese currency, the dollar is weak, fetching 141.43 yen a unit, compared with 141.99 yen a unit on Monday.

The dollar has strengthened to 0.6788 against the Aussie, firming from 0.6853. Against Swiss franc, the dollar is firm at CHF 0.8979, and up against the loonie as well, gaining about 0.2% at C$1.3233.

Singapore Bourse May Give Up Support At 4,200 Points

The Singapore stock market has finished lower in two straight sessions, slipping more than 25 points or 0.6 percent along the way. The Straits Times Index now sits just above the 4,230-point plateau and it may extend its losses on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 23 minutos atrás

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in five straight sessions, collecting more than 35 points or 2.4 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,560-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 53 minutos atrás

Win Streak May End For Japan Stock Market

Ahead of Monday's holiday for Mountain Day, the Japan stock market had moved higher in four consecutive sessions, advancing more than 1,580 points or 3.8 percent along the way. The Nikkei 225 now sits just above the 41,820-point plateau although investors are likely to lock in gains on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red. The Nikkei finished sharply higher on Friday with gains cross the board, especially among the finance, automobile and technology sectors. For the day, the index surged 761.38 points or 1.85 percent to finish at 41,820.48 after trading between 41,248.05 and 42,033.92. Among the actives, Nissan Motor accelerated 2.75 percent, while Mazda Motor spiked 4.91 percent, Toyota Motor jumped 3.47 percent, Honda Motor rallied 3.95 percent, Softbank Group skyrocketed 10.39 percent, Mitsubishi UFJ Financial collected 0.64 percent, Mizuho Financial advanced 1.02 percent, Sumitomo Mitsui Financial added 0.71 percent, Mitsubishi Electric fell 0.28 percent, Sony Group soared 3.50 percent, Panasonic Holdings climbed 1.16 percent and Hitachi rose 0.50 percent. The lead from Wall Street is negative as the major averages opened mixed on Monday, rallied midday but then slumped in the afternoon and finished under water.

RTTNews | 1 h 8 min atrás

Continued Consolidation Called For South Korea Shares

The South Korea stock market has finished lower in back-to-back sessions, sinking more than 20 points or 0.6 percent along the way. The KOSPI now sits just above the 3,200-point plateau and it may take further damage again on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 1 h 23 min atrás

Australia Interest Rate Decision On Tap For Tuesday

The Reserve Bank of Australia will wrap up its monetary policy meeting this morning and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The RBA is expected lower its benchmark lending rate by 25 basis points, to 3.60 percent from 3.85 percent.

RTTNews | 2 h 23 min atrás

U.S. Dollar Firms Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Monday.

RTTNews | 3 h 46 min atrás

Swiss Market Fails To Hold Early Gains, Ends Just Slightly Up

Despite opening on a firm note, the Switzerland market paring gains and even slipped into negative territory in late afternoon trades on Monday, but managed to end the day's session slightly up.

RTTNews | 6 h 39 min atrás

European Stocks Close On Mixed Note After Cautious Session

European stocks turned in a mixed performance on Monday after a cautious session as investors looked ahead to upcoming talks between the U.S. and Russia on the Ukraine war issue, and the ongoing tariff negotiations between the U.S. and China, as well as some crucial economic data, including a report on consumer price inflation in the world's largest economy.

RTTNews | 7 h 3 min atrás

EURUSD	1.16143	GBPUSD	1.34312	AUDUSD	0.6519
USDJPY	148.345	USDCAD	1.37761	USDCHF	0.81201