U.S. Dollar Higher On Trade Hopes

RTTNews | 28 days ago
U.S. Dollar Higher On Trade Hopes

(RTTNews) - The U.S. dollar appreciated against its major counterparts in the New York session on Friday, as investors focused on developments on the trade front.

The Trump administration is planning to send letters to many countries in the coming weeks, which indicate tariff rates the U.S. intends to impose.

The U.S.-China trade deal to temporarily slash steep tariffs, as well as the recent bilateral trade agreement between the U.S. and the UK, helped ease trade tensions.

While U.S. consumer sentiment deteriorated in May, inflation expectations rose further.

Preliminary data from the University of Michigan showed that the consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.

The report also said year-ahead inflation expectations surged to 7.3 percent in May from 6.5 percent in April.

Long-run inflation expectations also climbed to 4.6 percent in May from 4.4 percent in April.

The greenback climbed to 3-day highs of 1.1130 against the euro and 0.6387 against the aussie. The next possible resistance for the currency is seen around 1.10 against the euro and 0.62 against the aussie.

The greenback edged up to 146.09 against the yen, 1.3250 against the pound and 0.8401 against the franc, from an early 1-week low of 144.91 and 2-day lows of 1.3332 and 0.8327, respectively. The currency may find resistance around 148.00 against the yen, 1.31 against the pound and 0.86 against the franc.

The greenback rebounded to 1.3995 against the loonie and 0.5866 against the kiwi, from its early 2-day lows of 1.3935 and 0.5918, respectively. The greenback is poised to find resistance around 1.41 against the loonie and 0.57 against the kiwi.

read more
Canadian Dollar Higher Amid Rising Oil Prices

Canadian Dollar Higher Amid Rising Oil Prices

The Canadian dollar advanced against its most major counterparts in the New York session on Friday amid a spike in oil prices after Israel launched fresh wave of attacks on Iran.
RTTNews | 21h 38min ago
Antipodean Currencies Slide Amid Risk-off Mood; Safe-haven CHF, JPY Rises

Antipodean Currencies Slide Amid Risk-off Mood; Safe-haven CHF, JPY Rises

The antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Friday, amid heightening geopolitical tensions in the Middle East region after Israel launched a preemptive strike against Iran in a major escalation of the regional conflict. U.S. officials confirmed that the U.S. had no involvement or role in the operation. Tensions between the U.S. and Iran are also rising over the latter's nuclear developments.
RTTNews | 1 day ago
U.S. Dollar Weakens After Soft PPI Data

U.S. Dollar Weakens After Soft PPI Data

The U.S. dollar dropped against its major counterparts in the New York session on Thursday, as soft producer inflation data for May raised hopes of a rate cut by the Federal Reserve.
RTTNews | 1 day ago
Pound Slides On Weak U.K. GDP Data

Pound Slides On Weak U.K. GDP Data

The British pound weakened against other major currencies in the European session on Thursday, as U.K. economy shrank more than expected in April largely reflecting a fall in services output.
RTTNews | 2 days ago