Dollar Extends Gains Against Major Counterparts

RTTNews | 108 dni temu
Dollar Extends Gains Against Major Counterparts

(RTTNews) - The U.S. dollar gained against its major counterparts on Monday amid concerns about inflation and slightly fading hopes of more interest rate cuts by the Fed following new tariff threats from U.S. President Donald Trump.

Trump said over the weekend that he would announce new 25% tariffs on all steel and aluminium imports, raising fears of a brewing global trade war and its potential impact on the global economy.

German Chancellor Olaf Scholz reportedly emphasized that the EU is prepared to respond "within an hour" if the US imposes tariffs on European goods.

China's retaliatory tariffs on U.S. goods are set to take effect today. Trump has stated that he would announce reciprocal tariffs on Tuesday or Wednesday that mirror the tariffs those countries charge on American exports.

Results of a survey by the Federal Reserve Bank of New York showed the one-year and three-year inflation expectations were unchanged at 3%, while the five-year-ahead inflation expectations increased 0.3 percentage point to 3% in January.

House price growth expectations edged up 0.1 percentage point to 3.2%. Median household spending growth expectations decreased 0.4 percentage points to 4.4%, which was the lowest since January 2021, the survey revealed.

The NY Fed survey showed that expectations for future credit availability improved, while year-ahead expectations about households' financial situations deteriorated.

Traders await the release of U.S. consumer and producer prices data, and Fed Chair Jerome Powell's congressional testimony this week, for some clues about the central bank's interest rate moves in coming months.

The dollar index climbed to 108.44 in the Asian session, and despite dropping to 108.09, recovered and steadily edged higher to 108.32, gaining about 0.26% over previous closing value.

Against the Euro, the dollar strengthened to 1.0306 from 1.0330, and against Pound Sterling, firme to 1.2366 from 1.2403.

The dollar climbed higher against the Japanese currency to 152.01 yen, from 151.41 yen a unit. Against the Aussie, the dollar edged down marginally to 0.6278.

The dollar firmed against Swiss franc, to CHF 0.9115 a unit, and against the Loonie, it strengthened to C$ 1.4318 from C$ 1.4293.

read more
Wall Street Likely To Open On Negative Note

Wall Street Likely To Open On Negative Note

Lower U.S. futures and uncertainty surrounding Trump administration's tariff moves point to a flat start for stocks on Wall Street on Friday. Investors will also be digesting some crucial economic data, including reports on U.S. consumer confidence, Chicago PMI reading, and personal income & spending reports.
RTTNews | 2g 36 minut temu
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Friday morning with investors reacting to a slew of economic data, and assessing the likely move of Trump administration with regard to tariffs.
RTTNews | 2g 59 minut temu
FTSE 100 Rises 0.7%

FTSE 100 Rises 0.7%

UK stocks are up in positive territory a little past noon on Friday, remaining firm after a steady start. Despite concerns about inflation and uncertainty about tariffs, investors are picking up stocks amid cautious optimism about growth.
RTTNews | 3g 55 minut temu
CAC 40 Modestly Higher In Cautious Trade

CAC 40 Modestly Higher In Cautious Trade

After a slightly weak start, the French market has moved higher on Friday with investors picking up stocks amid hopes the European Central Bank will lower interest rates at its ensuing meeting. The U.S. federal court's ruling against President Donald Trump's sweeping tariff moves on its trading partners had added to uncertainty on the trade front, rendering the mood a bit cautious.
RTTNews | 4g 25 minut temu
DAX Up 0.8% On Selective Buying As Markets Await Clarity On Tariffs

DAX Up 0.8% On Selective Buying As Markets Await Clarity On Tariffs

German stocks are gaining notably ground in positive territory on Friday despite data showing a drop in the nation's retail sales in the month of April, and amid uncertainty about Trump administration's tariff moves after U.S. court rulings against the levies proposed by the U.S. President.
RTTNews | 4g 55 minut temu
Yen Rises On Strong Tokyo Core Inflation Data

Yen Rises On Strong Tokyo Core Inflation Data

The Japanese yen strengthened against other major currencies in the Asian session on Friday, as Tokyo's core inflation data came in stronger than expected, increasing the chances of the Bank of Japan's (BoJ) 25 basis point rate hike in July.
RTTNews | 5g 20 minut temu