Dollar Gains Against Major Rivals After Hawkish Fed Comments

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(RTTNews) - The U.S. dollar firmed against its major counterparts on Thursday, supported by hawkish comments from some Federal Reserve officials, including St. Louis Federal Reserve President James Bullard.

In remarks at an event hosted by Greater Louisville Inc., Bullard suggested the central bank's aggressive interest rate hikes have had "only limited effects on observed inflation."

Bullard noted that the policy rate is not yet "sufficiently restrictive" and highlighted a dovish scenario that could take the funds rate to 5% and a hawkish rate at 7%.

Bullard said he is targeting a minimum of another 125 basis points in rate hikes, bringing the target range to 5 to 5.25%.

In economic releases today, data from the Labor Department showed first-time claims for U.S. unemployment benefits edged slightly lower in the week ended November 12th, dipping to 222,000, a decrease of 4,000 from the previous week's revised level of 226,000.

Economists had expected jobless claims to come in unchanged compared to the 225,000 originally reported for the previous week.

A report released by the Federal Reserve Bank of Philadelphia on Thursday showed regional manufacturing activity unexpectedly contracted at a faster rate in the month of November, tumbling to a negative 19.4, from a negative 8.7 in October.Economists had expected the index to inch up to a negative 6.2.

The dollar index climbed to 107.24 this morning, but gave up some gains as the session progressed and was last seen hovering around 106.65, up nearly 0.35% from the previous close.

Against the Euro, the dollar is trading at 1.0370, firming from 1.0396.

The dollar is stronger against Pound Sterling at 1.1864, gaining from 1.1915.

Against the Japanese currency, the dollar has strengthened, fetching 140.19 yen a unit, as against the previous close of 139.54 yen.

The dollar is trading at 0.6692 against the Aussie, gaining from 0.6743.

Against Swiss franc, the dollar up, fetching CHF 0.9515, about 0.7% up from CHF 0.9449. Against the Loonie, the dollar is roughly flat with the USD/CAD pair at 1.3323.

European Economic News Preview: UK Unemployment Data Due

Unemployment from the UK and economic confidence from Germany are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics publishes UK unemployment data. The jobless rate is forecast to remain unchanged at 4.7 percent in the second quarter. At 3.00 am ET, retail sales figures are due from Turkey.

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Sensex, Nifty Slightly Higher In Early Trade

Indian shares were slightly higher on Tuesday despite mixed cues from global markets.

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Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Tuesday, but extending the gains in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level to fresh all-time high, with gains in financial and energy stocks partially offset by weakness in mining and technology stocks.

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Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, despite the broadly negative cues from Wall Street overnight, with the Australian and the Japanese markets hitting record all-time highs, as the U.S. and China agreed to extend their tariff truce for another 90 days. Optimism about the US Fed cutting interest rate at its next meeting is also aiding market sentiment.

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Sensex, Nifty Set For Muted Open On Mixed Global Cues

Indian shares are seen opening flat to slightly lower on Tuesday after rising sharply in the previous session as the announcement of a meeting between Russian President Vladimir Putin and U.S. President Donald Trump has fueled expectations of a potential end to sanctions limiting supply of Russian oil to other markets.

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Japanese Market Sharply Higher; Up 2%

The Japanese stock market is trading sharply higher on Tuesday, extending the gains in the previous five sessions, despite the broadly negative cues from Wall Street overnight, with the Nikkei 225 surging over 2 percent near the 42,700 level to record all-time highs, with gains across all sectors led by index heavyweights, technology and financial stocks.

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Indonesia Stock Market May Be Stuck In Neutral On Tuesday

The Indonesia stock market has tracked higher in back-to-back sessions, improving more than 115 points or 15 percent along the way. The Jakarta Composite Index now sits just above the 7,600-point plateau although it's expected to open in the red on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

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Renewed Consolidation Likely For Hong Kong Stock Market

The Hong Kong stock market moved higher again on Monday, one session after snapping the four-day winning streak in which it had rallied more than 570 points or 2.4 percent. The Hang Seng Index now rests just above the 24,900-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

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EURUSD	1.16195	GBPUSD	1.34281	AUDUSD	0.65039
USDJPY	148.263	USDCAD	1.37765	USDCHF	0.8107