Dollar Turns In Mixed Performance Ahead Of Fed Policy

RTTNews | 663天前

(RTTNews) - The U.S. dollar turned in a mixed performance against its major counterparts on Tuesday, struggling to find support at higher levels as traders awaited the Federal Reserve's monetary policy announcement on Wednesday.

The European Central Bank and the Bank of Japan are scheduled to make their monetary policy announcements on Thursday and Friday, respectively.

The Fed is widely expected to raise interest rates by another 25 basis points, but traders are hopeful the rate hike will be the last following recent encouraging inflation data.

"Investors are clearly signaling that they expect this week's announcement to mark the end of the rate-hiking cycle, followed by a series of aggressive rate cuts next year," said John Lynch, Chief Investment Officer for Comerica Wealth Management.

In U.S. economic news, the Conference Board released a report showing U.S. consumer confidence improved by much more than expected in the month of July.

The report said the consumer confidence index jumped to 117.0 in July from an upwardly revised 110.1 in June. Economists had expected the index to climb to 111.8 from the 109.7 originally reported for the previous month.

With the much bigger than expected surge, the consumer confidence index reached its highest level since July 2021.

The dollar index, which was down at 101.19 in the Asian session, climbed to 101.65 around mid morning, but retreated and dropped to 101.28 later on in the day, netting a marginal loss.

Against the Euro, the dollar is up at 1.1054 despite easing from 1.1022, and has weakened to 1.2899 against Pound Sterling.

Against the Japanese currency, the dollar is down at 140.97 yen, after having settled at 141.49 yen on Monday. The dollar is weak against the Aussie with the AUD/USD pair trading at 0.6793.

The Swiss franc is gaining against the dollar at CHF 0.8643, firming from CHF 0.8695. Against the Loonie, the dollar is up marginally at C$1.3174.

China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China's industrial production increased more than expected in April despite trade tariff hikes and the unemployment rate dropped marginally but growth in retail sales fell short of expectations signalling weaker domestic demand, official data revealed on Monday. Industrial output logged an annual growth of 6.1 percent in April after rising 7.7 percent in March.

RTTNews | 1小时3分钟前

Thai Downgrades GDP Growth Outlook

Thailand's economy is projected to expand less than the previous estimate this year as trade tariffs are likely to dampen exports in the second half of the year, the National Economic and Social Development Council said Monday. Southeast Asia's second largest economy is forecast to grow in the range of 1.3 percent to 2.3 percent this year. This was down from the previous outlook of 2.3 percent-

RTTNews | 2小时36分钟前

European Shares Likely To Drift Lower On Concerns About US Debt

European stocks may open on a sluggish note Monday after Moody's downgraded the U.S. credit rating by one notch to Aa1 from Aaa, citing rising levels of government debt and interest payments.

RTTNews | 2小时58分钟前

Fijian Import & Export Recalls Ready-To-Eat Meat Pie Products

Hayward, California-based Fijian Import & Export Co. Inc. is recalling around 127 pounds of ready-to-eat meat pie products from Australia that were not presented for import reinspection upon entry into the United States, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The recall involves 5.6-oz. plastic packages...

RTTNews | 3小时28分钟前

Sensex, Nifty Marginally Lower As IT Stocks Drag

Indian shares were flat to slightly lower on Monday, with IT stocks leading losses after a U.S. credit rating downgrade.

RTTNews | 4小时8分钟前

Australian Market Halves Early Losses In Mid-market

The Australian stock market is halving its early losses in mid-market trading on Monday, snapping an eight-session winning streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,300.00 level, with weakness in iron ore miners, energy and financial stocks partially offset by gains in gold miners.

RTTNews | 5小时6分钟前

Asian Markets Trade Mostly Lower

Asian stock markets are mostly lower on Monday, following the positive cues from Wall Street on Friday, as traders react to surprise downgrade of the US government's credit rating by one notch to Aa1 by Moody's Ratings, being the last of the three major credit rating agencies to downgrade it. They also react to China announcing anti-dumping duties on plastics from the U.S., EU, Japan and Taiwan.

RTTNews | 5小时23分钟前

Sensex, Nifty Seen Lower On US Debt Concerns

Indian shares look set to open lower on Monday as investors fret about the changing geo-political landscape in India's neighborhood as a new bonhomie between Bangladesh, China and Pakistan takes shape silently.

RTTNews | 5小时54分钟前

EURUSD	1.12465	GBPUSD	1.33581	AUDUSD	0.64263
USDJPY	144.92	USDCAD	1.39558	USDCHF	0.83364

Advertisement

Dollar Turns In Mixed Performance Ahead Of Fed Policy