Dollar Rises On Strong Economic Data, Posts Strong Gains Against Major Rivals

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(RTTNews) - The U.S. dollar climbed higher against its major counterparts on Monday after data showing an unexpected pickup in U.S. services sector activity in the month of November raised the possibility of more aggressive rate hikes by the Federal Reserve.

Already, Friday's data showing a stronger-than-expected growth in U.S. non-farm payrolls in the month of November had triggered speculation the central bank will continue with its aggressive rate hike path.

A report from the Institute for Supply Management this morning showed U.S. service sector activity unexpectedly grew at an accelerated rate in the in the month of November.

The ISM said its services PMI climbed to 56.5 in November from 54.4 in October, with a reading above 50 indicating growth in the sector. The increase surprised economists, who had expected the index to dip to 53.1.

A separate report released by the Commerce Department showed new orders for U.S. manufactured goods jumped by more than expected in the month of October.

The dollar index surged to 105.40, gaining more than 0.8% from the previous close.

Against the Euro, the dollar firmed to 1.0491 from 1.0543.

The dollar is trading at 1.2184 against Pound Sterling, strengthening from 1.2294.

Against the Japanese currency, the dollar is stronger, fetching 136.79 yen a unit, as against Friday's close of 134.31 yen.

Against the Aussie, the dollar is firm at 0.6694. The Swiss franc is weak against the dollar at CHF 0.9432, easing from CHF 0.9369.

The dollar is firm against the Loonie, fetching C$1.3599 a unit, compared with C$1.3473 on Friday.

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from Wall Street overnight, as traders remain cautiously optimistic on the outlook for markets after the U.S.-China temporary trade truce. They now stay focused on the outcome of US trade negotiations with India and Japan. Some traders also locked in profits following the recent upside in the markets.

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Sensex, Nifty Set To Follow Global Peers Higher

Indian shares look set to open higher on Tuesday, tracking firm cues from global markets as China cut its benchmark lending rates for the first time in 7 months to boost its struggling economy amid rising trade tensions.

RTTNews | 1घंटे 1 मिनट पहले

Flat Lead Called For Thai Stock Market

The Thai stock market has alternated between positive and negative finishes through the last nine trading days since the end of the five-day winning streak in which it had advanced more than 50 points or 4.3 percent. The Stock Exchange of Thailand now sits just above the 1,185-point plateau and it figures to see little movement on Tuesday.

RTTNews | 1घंटे 38 मिनट पहले

Japanese Market Significantly Higher

The Japanese stock market is trading significantly higher on Tuesday, snapping a four-session losing streak, following the broadly positive cues from Wall Street overnight, with the Nikkei 225 moving up to near the 37,800 level, with gains across all sectors led by index heavyweights and technology stocks.

RTTNews | 1घंटे 59 मिनट पहले

Indonesia Bourse Due For Profit Taking

The Indonesia stock market has finished higher in five straight sessions, improving more than 310 points or 4.5 percent in that span. The Jakarta Composite Index now rests just above the 7,140-point plateau although investors may lock in gains on Tuesday.

RTTNews | 2घंटे 8 मिनट पहले

Hong Kong Shares Due For Support On Tuesday

The Hong Kong stock market has moved lower in three straight sessions, dropping more than 300 points or 1.3 percent along the way. The Hang Seng Index now sits just above the 23,330-point plateau although it may halt its slide on Tuesday.

RTTNews | 2घंटे 23 मिनट पहले

Australian Market Significantly Higher

The Australian stock market is trading significantly higher on Tuesday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,300 level, with gains across most sectors led by technology, mining and financial stocks.

RTTNews | 2घंटे 38 मिनट पहले

Little Movement Seen For China Stock Market

The China stock market on Monday ended the two-day slide in which it had slipped more than 35 points or 1 percent. The Shanghai Composite Index now rests just above the 3,365-point plateau and it's likely to remain in that neighborhood again on Tuesday.

RTTNews | 2घंटे 38 मिनट पहले

EURUSD	1.12448	GBPUSD	1.33672	AUDUSD	0.64484
USDJPY	144.812	USDCAD	1.39585	USDCHF	0.83414

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Dollar Rises On Strong Economic Data, Posts Strong Gains Against Major Rivals