Dollar Slips Against Major Counterparts As Weak Data Raises Rate Cut Bets

RTTNews | 613 gün önce

(RTTNews) - The U.S. dollar shed ground against its major rivals on Thursday after data showing a drop in economic growth and an uptick in jobless claims raised prospects of a rate cut by the Federal Reserve early next year.

Data released by the Commerce Department showed the real gross domestic product jumped by 4.9% in the third quarter, reflecting a downward revision from the previously reported 5.2% increase. Economists had expected the pace of GDP growth to be unrevised.

A report from the Labor Department showed jobless claims in the U.S. crept up to 205,000 in the week ended December 16, an increase of 2,000 from a week earlier.

Jobless claims were expected to rise to 215,000 from the 202,000 originally reported for the previous week.

Meanwhile, a report from the Federal Reserve Bank of Philadelphia showed regional manufacturing activity contracted at an accelerated pace in the month of December.

The focus now is on the U.S core personal consumption expenditure (PCE) index data due on Friday.

The dollar index dropped to 101.79, losing about 0.6%.

The dollar weakened to 1.1007 against the Euro from 1.0943, and eased to 1.2686 from 1.2639 against Pound Sterling.

Against the Japanese currency, the dollar was down at 142.24 yen, giving up nearly 1%. The greenback is weak against Swiss franc, fetching CHF 0.8563 a unit, compared with CHF 0.8629 on Wednesday. Against the Loonie, the dollar is down against the loonie at C$ 1.3283.

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Tuesday, giving up the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,950 level, with weakness in iron ore miners and a mixed performance across most other sectors.

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Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation. Asian markets closed mostly higher on Monday.

RTTNews | 1s 41 dakika önce

Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

RTTNews | 2s 11 dakika önce

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2s 52 dakika önce

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | 3s 19 dakika önce

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 3s 22 dakika önce

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 3s 37 dakika önce

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | 3s 39 dakika önce

EURUSD	1.16288	GBPUSD	1.34553	AUDUSD	0.6478
USDJPY	147.778	USDCAD	1.38571	USDCHF	0.80554