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

RTTNews | 967 дней спустя
Dollar Rises On Strong Economic Data, Posts Strong Gains Against Major Rivals

(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.

read more
Swiss Market Closes On Firm Note

Swiss Market Closes On Firm Note

The Switzerland market shrugged off a somewhat shaky start and climbed higher on Tuesday with investors mostly reacting to corporate earnings updates, and looking ahead to monetary policy announcement from the Federal Reserve and closely following trade talks.
RTTNews | 1ч 22мин назад
European Stocks Close Higher As Investors React To Earnings

European Stocks Close Higher As Investors React To Earnings

European stocks closed on a firm note on Tuesday as investors reacted to a slew of earnings announcements from the region, and looked ahead to monetary policy announcements from some leading central banks, including the U.S. Federal Reserve.
RTTNews | 1ч 44мин назад
TSX Pares Some Gains After Hitting New High; Celestica Rises On Strong Results

TSX Pares Some Gains After Hitting New High; Celestica Rises On Strong Results

The Canadian market is up in positive territory a little past noon on Tuesday, supported by gains in technology, real estate, healthcare and consumer staples sectors. In addition to following the developments on the trade front, investors are also looking ahead to the monetary policy announcements from the Bank of Canada and the Federal Reserve.
RTTNews | 2ч 44мин назад
U.S. Consumer Confidence Modestly Improves In July

U.S. Consumer Confidence Modestly Improves In July

Consumer confidence in the U.S. saw a modest improvement in the month of July, according to a report released by the Conference Board on Tuesday. The Conference Board said its consumer confidence index rose to 97.2 in July after falling to a revised 95.2 in June.
RTTNews | 5ч 2мин назад
Bay Street Seen Opening Slightly Higher

Bay Street Seen Opening Slightly Higher

Canadian shares may open higher Tuesday morning, riding on firm oil and metal prices. Investors, awaiting trade talks between Canadian and U.S. officials, also look ahead to Bank of Canada's interest rate decision, due on Wednesday.
RTTNews | 6ч 22мин назад