Dollar Pares Some Gains After Fed Policy Announcement

RTTNews | 167 days ago
Dollar Pares Some Gains After Fed Policy Announcement

(RTTNews) - The U.S. dollar pared some gains Wednesday afternoon after the Federal Reserve, which left interest rate unchanged, signaled two quarter percentage point cuts this year.

The Fed also lowered its GDP growth projections and raised its inflation forecast.

Traders looked ahead to the monetary policy announcements from the Bank of England and the Swiss National Bank. The two banks are scheduled to announced their rate decisions on Thursday.

The Bank of Japan left its interest rate unchanged after hiking the rate by a quarter-point early this year, amid rising concerns about the US trade policies and its impact on economic activity and prices.

At a two-day meeting that ended on Wednesday, the policy board, governed by Kazuo Ueda, unanimously decided to maintain the uncollateralized overnight call rate at around 0.5%, which was the highest level since the global financial crisis in 2008.

The dollar index, which climbed to 103.91 before the central bank's policy announcement, dropped to 103.46 subsequently, but still stayed above the flat line, netting a gain of about 0.21%.

Against the Euro, the dollar firmed to 1.0905 from 1.0946. The dollar pared early gains and was roughly flat at 1.3003 against Pound Sterling.

Against the Japanese currency, the dollar eased to 148.65 yen a unit, after having firmed to 150.14 yen earlier in the session. The dollar pared gains and traded at 0.6358 against the Aussie.

The Swiss franc eased slightly against the greenback at CHF 0.8773, while the Loonie weakened to 1.4330 against the U.S. dollar.

read more
Singapore Shares: Resistance Expected At 4,300 Points

Singapore Shares: Resistance Expected At 4,300 Points

The Singapore stock market has moved higher in five straight sessions, collecting more than 50 points or 1.2 percent in that span. The Straits Times Index now sits just shy of the 4,300-point plateau, although it may run out of steam on Wednesday.
RTTNews | 19 minutes ago
Malaysia Shares May See Renewed Consolidation On Wednesday

Malaysia Shares May See Renewed Consolidation On Wednesday

The Malaysia stock market on Tuesday snapped the two-day slide in which it had fallen more than a dozen points or 0.8 percent. The Kuala Lumpur Composite Index now sits just above the 1,575-point plateau although it may head south again on Wednesday.
RTTNews | 44 minutes ago
Japan Stock Market May Hand Back Tuesday's Gains

Japan Stock Market May Hand Back Tuesday's Gains

The Japanese stock market on Tuesday ended the two-day losing streak in which it had dropped almost 650 points or 1.4 percent. The Nikkei 225 now sits just above the 42,310-point plateau although it may see renewed consolidation on Wednesday.
RTTNews | 1h 6min ago
South Korea Shares May Head South Again On Wednesday

South Korea Shares May Head South Again On Wednesday

The South Korea stock market on Tuesday ended the two-day slide in which it had given up mor than 50 points or 1.6 percent. The KOSPI now rests just above the 3,170-point plateau although it's expected to turn lower again on Wednesday.
RTTNews | 1h 22min ago
Australia GDP Data Due On Wednesday

Australia GDP Data Due On Wednesday

Australia will on Wednesday release Q2 figures for gross domestic product, highlighting a modest day for Asia-Pacific economic activity. GP is expected to rise 0.5 percent on quarter and 1.6 percent on year, up from 0.2 percent on quarter and 1.3 percent on year in the three months prior.
RTTNews | 2h 22min ago
Swiss Shares Extend Losing Streak

Swiss Shares Extend Losing Streak

The Swiss stock market closed under pressure again on Tuesday, stretching its losing streak to three sessions while giving up more than 130 points or 1.1 percent in that span.
RTTNews | 7h 34min ago
Eurozone Inflation Path Suggests ECB Unlikely To Cut Rates Further

Eurozone Inflation Path Suggests ECB Unlikely To Cut Rates Further

Euro area inflation modestly accelerated to a four-month high, and the core figure was steady around the 2 percent target in August as a slight slowing in both food price growth and services inflation was offset by a smaller decline in energy prices, which suggests that the European Central Bank is set to hold interest rates steady in future policy sessions.
RTTNews | 7h 40min ago