Dollar Recovers After Early Setback, But Stays Mostly Subdued

RTTNews | 179天前
Dollar Recovers After Early Setback, But Stays Mostly Subdued

(RTTNews) - After hovering around two-month lows during the Asian session, the U.S. dollar recovered some lost ground on Monday, but struggled to move any significantly higher as investors remained cautious amid concerns about growth after last week's data showed a contraction in the nation's services sector.

Investors now look ahead to some crucial economic data, including reports on personal consumption expenditure, first-quarter GDP growth estimate, and speeches from a slew of Federal Reserve officials.

The dollar index, which dropped to 106.13 in the Asian session, climbed to 106.75 later on in the session, and was up marginally at 106.70 a little while ago.

Against the Euro, the dollar declined marginally at 1.0466, and against Pound Sterling, it firmed a bit to 1.2623.

The dollar strengthened against the Japanese currency, fetching 149.76 yen a unit, up from 149.28 yen on Friday. Against the Aussie, the dollar firmed to 0.6346 from 0.6358.

The Swiss franc was up slightly against the dollar at 0.8973, while the Loonie weakened against the greenback, losing nearly 0.3% at 1.4266 a unit of the U.S. currency.

read more
U.S. Dollar Drops After Powell's Speech

U.S. Dollar Drops After Powell's Speech

The U.S. dollar weakened against its major counterparts in the New York session on Friday, as Federal Reserve Chair Jerome Powell hinted at a potential rate cut next month.
RTTNews | 3小时28分钟前
TSX Hits New Record High As Stocks Rally On Fed Rate Cut Hopes

TSX Hits New Record High As Stocks Rally On Fed Rate Cut Hopes

The Canadian market is up firmly in positive territory a little past noon on Friday, with stocks from across several sectors moving higher on strong buying support amid rising hopes of an interest rate cut by the Federal Reserve in September.
RTTNews | 8小时59分钟前
Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates

Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates

Federal Reserve Chair Jerome Powell delivered a highly-anticipated speech before the Jackson Hole Economic Symposium on Friday, although he touched only briefly on the outlook for monetary policy. "With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance," Powell said.
RTTNews | 11小时7分钟前
Bay Street Likely To Open On Mixed Note; Powell's Speech Eyed

Bay Street Likely To Open On Mixed Note; Powell's Speech Eyed

Canadian shares are likely to open on a somewhat mixed note Friday morning with investors awaiting Fed Chair Jerome Powell's speech at Jackson Hole. Lower commodity prices may weigh a bit early on in the session.
RTTNews | 13小时37分钟前
Sensex, Nifty Snap Six-day Winning Streak On Tariff Concerns

Sensex, Nifty Snap Six-day Winning Streak On Tariff Concerns

Indian shares fell sharply on Friday after a Trump administration official called India the 'Maharaja' of tariffs and ramped up his criticism over the trade ahead of an expected tariff increase on August 27.
RTTNews | 15小时24分钟前
FTSE 100 Down Slightly; Standard Chartered Shares Up Sharply

FTSE 100 Down Slightly; Standard Chartered Shares Up Sharply

U.K. stocks are turning in a mixed performance in cautious trade on Friday, amid a lack of fresh triggers. Investors are awaiting Fed Chair Jerome Powell's speech later in the day at the Jackson Hole Symposium, for clues about U.S. central bank's interest rate move next month.
RTTNews | 15小时30分钟前
U.S. Dollar Rises Ahead Of Fed's Powell Speech

U.S. Dollar Rises Ahead Of Fed's Powell Speech

The U.S. dollar strengthened against other major currencies in the European session on Friday, as traders expect speech by Fed Chair Jerome Powell at the Jackson Hole Symposium.
RTTNews | 15小时34分钟前
CAC 40 Up Slightly In Lackluster Trade

CAC 40 Up Slightly In Lackluster Trade

French stocks are mostly subdued on Friday with investors refraining from making significant moves, choosing to wait for key speeches from central bank chiefs at the Jackson Hole Symposium. The focus is on Fed Chair Jerome Powell's speech for clues about interest rate cuts in September.
RTTNews | 15小时51分钟前