Dollar Rises Against Major Counterparts On Rate Hike Bets

RTTNews | 912 일 전

(RTTNews) - The U.S. dollar climbed higher against is major counterparts on Friday following hawkish comments from several Fed officials, including St. Louis Fed President James Bullard.

In remarks at an event hosted by Greater Louisville Inc., St. Louis Fed President James Bullard suggested the central bank's aggressive interest rate hikes have had "only limited effects on observed inflation."

Bullard said the Fed will need to continue increasing interest rates to reach a level that could be considered "sufficiently restrictive."

In U.S. economic news today, a report from the National Association of Realtors showed existing home sales plummeted by 5.9% to an annual rate of 4.43 million in October after slumping by 1.5% to a rate of 4.71 million in September.

Existing home sales decreased for the ninth consecutive month, resulting in a 28.4% nosedive compared to the same month a year ago.

A separate report released by the Conference Board showed a much bigger than expected decrease by its reading on leading U.S. economic indicators in the month of October.

The Conference Board said its leading economic slumped by 0.8% in October after falling by a revised 0.5% in September. Economists had expected the index to decrease by 0.4%, matching the drop originally reported for the previous month.

The dollar index climbed to 107.01, gaining about 0.3% over Thursday's closing level, recovering well after having dropped to 106.34 in the Asian session.

Against the Euro, the dollar has firmed to 1.0321 from 1.0366.

The dollar weakened to 1.1952 against Pound Sterling in the Asian session, but has recovered to 1.1885, trimming its loss to just around 0.1%.

Against the Japanese currency, the dollar has strengthened to fetch 140.39 yen as against 140.20 yen Thursday evening.

The dollar is stronger against the Aussie at 0.6673, gaining from 0.6688.

Against Swiss franc, the dollar is up at CHF0.9547, firming from CHF0.9520. The Loonie is weak as well against the dollar, having drifted down to C$1.3386.

European Shares Edge Lower On US Debt Concerns

European stocks traded lower on Monday as investors reacted to Moody's downgrade of U.S. credit rating and mixed economic data from China.

RTTNews | 51 분 전

Asian Shares Drift Lower After US Credit Rating Downgrade

Asian stocks ended lower on Monday as Moody's downgrade of the U.S. credit rating reinforced Wall Street's growing worries over the U.S. sovereign bond market.

RTTNews | 1 시간 13 분 전

China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China's industrial production increased more than expected in April despite trade tariff hikes and the unemployment rate dropped marginally but growth in retail sales fell short of expectations signalling weaker domestic demand, official data revealed on Monday. Industrial output logged an annual growth of 6.1 percent in April after rising 7.7 percent in March.

RTTNews | 2 시간 28 분 전

Thai Downgrades GDP Growth Outlook

Thailand's economy is projected to expand less than the previous estimate this year as trade tariffs are likely to dampen exports in the second half of the year, the National Economic and Social Development Council said Monday. Southeast Asia's second largest economy is forecast to grow in the range of 1.3 percent to 2.3 percent this year. This was down from the previous outlook of 2.3 percent-

RTTNews | 4 시간 1 분 전

European Shares Likely To Drift Lower On Concerns About US Debt

European stocks may open on a sluggish note Monday after Moody's downgraded the U.S. credit rating by one notch to Aa1 from Aaa, citing rising levels of government debt and interest payments.

RTTNews | 4 시간 23 분 전

Fijian Import & Export Recalls Ready-To-Eat Meat Pie Products

Hayward, California-based Fijian Import & Export Co. Inc. is recalling around 127 pounds of ready-to-eat meat pie products from Australia that were not presented for import reinspection upon entry into the United States, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The recall involves 5.6-oz. plastic packages...

RTTNews | 4 시간 53 분 전

Sensex, Nifty Marginally Lower As IT Stocks Drag

Indian shares were flat to slightly lower on Monday, with IT stocks leading losses after a U.S. credit rating downgrade.

RTTNews | 5 시간 33 분 전

Australian Market Halves Early Losses In Mid-market

The Australian stock market is halving its early losses in mid-market trading on Monday, snapping an eight-session winning streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,300.00 level, with weakness in iron ore miners, energy and financial stocks partially offset by gains in gold miners.

RTTNews | 6 시간 32 분 전

EURUSD	1.12792	GBPUSD	1.33988	AUDUSD	0.64446
USDJPY	144.813	USDCAD	1.3945	USDCHF	0.83268

Advertisement

Dollar Rises Against Major Counterparts On Rate Hike Bets