The dollar index dropped below 106 on Friday, on track to lose about 1.5% for the week, marking its first weekly decline in nine weeks.
The initial pullback was sparked by the nomination of Scott Bessent as US Treasury Secretary, which provided markets with a sense of stability and eased concerns over drastic policy shifts under the incoming Trump administration.
The decline gained momentum on Wednesday after US PCE inflation data met expectations, signaling little change in the Federal Reserve's stance on interest rate cuts.
Markets are now pricing in a 66.5% chance of a 25 basis point rate cut in December, up from 55.9% a week ago.
Despite this week's drop, the dollar index is still poised to rise around 2% for November, as Trump's decisive election victory fueled bets on fiscal expansion, higher tariffs, and tighter borders—policies that could be inflationary.
Source: Trading Economics
The US dollar and Treasury yields fell after Zions Bancorp and Western Alliance admitted to fraudulent lending to funds investing in troubled commercial mortgages. The Bloomberg Dollar Spot Index weak...
The U.S. dollar drifted lower Thursday on growing expectations of further interest rate cuts by the Federal Reserve this year, while signs of French political accord helped the euro. At 04:45 ET (08:...
The U.S. currency slipped lower following a speech by Jerome Powell on Tuesday, in which the Federal Reserve chair left the door open to further rate cuts by saying the U.S. labor market remained in t...
The U.S. dollar was choppy on Tuesday, as investors attempted to gauge the longevity of a flare-up in trade tensions between the U.S. and China. U.S. President Donald Trump has appeared to rein in hi...
The US Dollar found support at the 98.80 area after retreating from the mid-range of the 99.00s on Friday, following Trump's threat to impose 100% tariffs on China. The Index pared losses on Monday bu...
US stocks rose on Friday (October 17th) as investors reacted positively to President Trump's remarks alleviating concerns about further trade escalation with China, while regional bank stocks rebounded after Thursday's sharp declines. The S&P...
Oil prices posted a slight increase on Friday (October 17th), but were close to a weekly loss of nearly 3% after the International Energy Agency (IEA) forecast a widening oversupply, and U.S. President Donald Trump and Russian President Vladimir...
Gold prices (XAU/USD) fell 2% after hitting a record high of $4,379 on Friday (October 17th), falling below $4,250, triggered by comments by US President Donald Trump that triple-digit tariffs against China were unsustainable. At the time of...
Federal Reserve Governor Christopher Waller said on Thursday he's on board with another interest rate cut at the U.S. central bank's policy meeting...
Asian stock markets opened higher on Thursday morning (October 16th), following a positive close on Wall Street despite volatile trading. Stocks in...
US stocks closed higher on Wednesday, despite ongoing US-China trade tensions and the ongoing government shutdown. The S&P 500 rose 0.4%,...
Australia's unemployment rate jumped to 4.5% in September, its highest level since 2021. This figure was worse than expected and indicates that the...