Dollar Turns Weak Against Major Counterparts

RTTNews | 856 วันที่ผ่านมา
Dollar Turns Weak Against Major Counterparts

(RTTNews) - The U.S. dollar weakened against major counterparts on Friday after debt ceiling deal talks paused, and the Federal Reserve Chair Jerome Powell signaled a likely pause in interest rate hikes next month.

Speaking alongside former Fed Chair Bernanke, Powell noted that the Fed may not have to raise its policy rate as much as it would have to otherwise if tighter credit conditions weigh on growth.

"Tighter credit conditions mean that "our policy rate may not need to rise as much as it would have otherwise to achieve our goals," Powell said at a central bank conference in Washington.

Powell said the bank would now make decisions "meeting by meeting," but also flagged that after a year of aggressive rate increases, officials can afford to make "careful assessments" of the impact of rate hikes on the economic outlook.

"The Fed Chair appears content with signaling patience with regards to future tightening. Powell has paved the way for the Fed to pause its rate hiking campaign at the June FOMC meeting. The Fed could however resume tightening as Powell reiterated that inflation is far above the Fed's objective," says Edward Moya, Senior Market Analyst at OANDA.

Meanwhile, Republican negotiators walked out of a meeting over raising the U.S. debt ceiling, offsetting recent optimism about an impending deal.

"Until people are willing to have reasonable conversations about how you can actually move forward and do the right thing, then we're not gonna sit here and talk to ourselves," Rep. Garret Graves, R-La., told reporters.

The dollar index, which dropped to 103.00, has recovered to 103.20, but still remains in negative territory, netting a loss of nearly 0.4%.

Against the Euro, the dollar has weakened to 1.0809 from 1.0771. The dollar is weak against Pound Sterling at 1.2446, easing from 1.2410.

Against the Japanese currency, the dollar has dropped to 137.93 yen from 138.71 yen. The dollar is weak against the Aussie at 0.6649, and has eased against Swiss franc to CHF 0.8996. The Loonie is little changed against the dollar at 1.3504.

read more
European Shares Slide As Auto Stocks Weigh

European Shares Slide As Auto Stocks Weigh

European stocks were broadly lower on Monday as investors awaited a key U.S. inflation reading as well as comments from several Federal Reserve officials this week for additional clues on the Federal Reserve's rate trajectory.
RTTNews | 1 ชม. 30 นาทีที่ผ่านมา
Asian Shares Mixed As Investors Ponder Fed's Rate Path

Asian Shares Mixed As Investors Ponder Fed's Rate Path

Asian stocks turned in a mixed performance on Monday as investors wondered how U.S. President Donald Trump's crackdown on immigration will reshape the world's largest economy in the short and long term.
RTTNews | 1 ชม. 54 นาทีที่ผ่านมา
Dollar Edges Up After Fed's Cautious Rate Cut

Dollar Edges Up After Fed's Cautious Rate Cut

The six-currency Dollar Index which measures the U.S. dollar's strength against a basket of 6 currencies edged up during the week ended September 19 amidst a cautious rate cut by the Federal Reserve as well as status quo by Bank of England and Bank of Japan.
RTTNews | 2 ชม. 22 นาทีที่ผ่านมา
European Shares Seen Mostly Lower In Cautious Trade

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 | 4 ชม. 58 นาทีที่ผ่านมา
China Leaves Key Interest Rates Unchanged

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 | 5 ชม. 10 นาทีที่ผ่านมา
Australian Market Trims Early Gains In Mid-market

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 | 7 ชม. 6 นาทีที่ผ่านมา