Dollar Drifts Lower On Rate Cut Bets

RTTNews | 503 dni temu

(RTTNews) - The U.S. dollar shed ground against its major counterparts on Monday with investors growing increasingly confident about a rate cut in the coming months.

It is widely expected that rates will be lower by September. According to CME Group's FedWatch Tool, the possibility of a rate cut in September is at 83.5%.

Last week's data from the Labor Department showed a smaller than expected growth in U.S. non-farm payroll employment in the month of April.

The data showed non-farm payroll employment climbed by 175,000 jobs in April after surging by an upwardly revised 315,000 jobs in March. Economists had expected employment to jump by 243,000 jobs compared to the spike of 303,000 jobs originally reported for the previous month.

The report also showed the unemployment rate crept up to 3.9% in April from 3.8% in March. The unemployment rate was expected to remain unchanged.

The annual rate of wage growth slowed to 4% in April from 4.1% in March, while economists had expected the pace of wage growth to dip to 4%.

A report from the Institute for Supply Management said the U.S. service sector activity unexpectedly contracted in the month of April, according to a report released by the on Friday.

The ISM said its services PMI dipped to 49.4 in April from 51.4 in March, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 52.0.

With the unexpected decrease, the services PMI indicated activity in the sector contracted for the first time since December 2022.

The dollar index, which dropped to 104.87, recovered to 105.11, gaining marginally.

Against the Euro, the dollar was down marginally at 1.0769. The dollar weakened to 1.2596 against Pound Sterling, but recovered subsequently to 1.2562, still down from the previous close of 1.2547.

Against the Japanese currency, the dollar firmed to 153.92 yen. The dollar dropped against the Aussie, weakening to 0.6623.

The Swiss franc weakened to 0.9063 a dollar. Against the Loonie, the dollar eased to C$ 1.3666.

European Shares Seen Mostly Lower In Cautious Trade

European stocks are seen opening flat to slightly lower on Monday as investors react to the Trump administration's immigration crackdown on H-1B visas and shift focus to a slew of U.S. economic data as well as speeches by Fed Chair Jerome Powell and other Fed officials due this week for additional clues on the future path of interest rates.

RTTNews | 1g 31 minut temu

China Leaves Key Interest Rates Unchanged

The People's Bank of China left its benchmark interest rates unchanged for the fourth straight month despite key indicators suggesting economic slowdown. The PBoC kept its one-year loan prime rate unchanged at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The decision came in line with expectations.

RTTNews | 1g 42 minut temu

Sensex, Nifty Little Changed; IT Stocks Tumble After H-1B Visa Fee Increase

Indian shares were little changed on Monday despite U.S. President Donald Trump's decision to impose a hefty $100000 fee on H-1B visas to protect American jobs.

RTTNews | 2g 31 minut temu

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Monday, but adding to the gains in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving above the 8,800.00 level, with gains across most sectors led by mining and financial stocks.

RTTNews | 3g 39 minut temu

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Monday, following the positive cues from Wall Street on Friday, as the recent interest rate cut decision by the US Fed and the forecast by Fed officials of two more rate cuts this year but just one next year, continue to lift market sentiment. However, major currencies in the region weakened against the US dollar. Asian markets closed mixed on Friday.

RTTNews | 3g 59 minut temu

Sensex, Nifty Set To Open Lower After Trump's Visa Crackdown

Indian shares look set to open lower on Monday, with tech stocks likely to be in focus after U.S. President Donald Trump signed an executive order slapping an additional fee on H-1B visa holders, potentially impacting profitability and prompting companies to rethink hiring strategies.

RTTNews | 4g 35 minut temu

Japanese Market Sharply Higher

The Japanese stock market is trading sharply higher on Monday, reversing the losses in the previous session, following the broadly positive cues from Wall Street on Friday, with the Nikkei 225 nearly 600 points to well above the 45,600 level, with gains across most sectors led by exporters and technology stocks.

RTTNews | 4g 52 minut temu

Thai Stock Market Due For Support On Monday

The Thai stock market has moved lower in three straight sessions, shedding more than 15 points or 1.1 percent along the way. The Stock Exchange of Thailand now sits just above the 1,290-point plateau although it may stop the bleeding on Monday.

RTTNews | 5g 12 minut temu

EURUSD	1.17395	GBPUSD	1.34738	AUDUSD	0.65802
USDJPY	148.098	USDCAD	1.38032	USDCHF	0.79573