Dollar Rises Against Major Counterparts On Safe-haven Appeal

RTTNews | 644天前

(RTTNews) - The U.S. dollar gained against its major counterparts on Tuesday on safe-haven appeal following the release of disappointing service sector data from China, and weak euro area business activity report.

A private survey showed China's service sector grew at the slowest pace in eight months in August largely due to weaker new business.

The Caixin services Purchasing Managers' Index slipped more-than-expected to 51.8 from 54.1 in July. The expected score was 53.6.

Elsewhere, disappointing data from the euro area and the U.K. also signaled waning consumer demand and pointed to more headwinds for the global economy.

Business activity in the euro zone weakened further in August as the economic downturn extended from manufacturing to the services sector.

HCOB's final Composite Purchasing Managers' Index (PMI), compiled by S&P Global, dropped to 46.7 in August from July's 48.6, marking the lowest level since November 2020.

The U.K. services PMI dropped to 49.50 from 51.50 in July, marking the lowest reading since January.

The dollar index rose to 104.91 before easing slightly to 104.80, still up with a strong gain of about 0.55%.

Against the Euro, the dollar firmed to 1.0723 from 1.0.796. The dollar is strong against Pound Sterling at 1.2565, gaining from 1.2628.

Against the Japanese currency, the dollar has firmed to fetch 147.69 yen a unit, rising from 146.48 yen.

The dollar is up against the Aussie at 0.6380, and strengthened to CHF 0.8897 against Swiss franc. Against the loonie, the dollar is up, fetching C$1.3643 a unit.

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | 1小时45分钟前

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | 1小时51分钟前

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | 2小时32分钟前

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | 3小时57分钟前

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 4小时13分钟前

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | 5小时20分钟前

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | 5小时56分钟前

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

RTTNews | 8小时51分钟前

EURUSD	1.14233	GBPUSD	1.34949	AUDUSD	0.65226
USDJPY	144.817	USDCAD	1.36701	USDCHF	0.82203

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Dollar Rises Against Major Counterparts On Safe-haven Appeal