The dollar index fell to 106.8 on Friday after much weaker-than-expected retail sales figures raised concerns about the strength of the consumer spending.
Retail sales declined 0.9% last month, compared to forecasts of a smaller 0.1% fall and the control sales which is used to calculate GDP declined 0.8%, although consumer spending was likely hit by harsh weather and wildfires in LA.
Meanwhile, both CPI and PPI exceeded forecasts, though the PPI components feeding into the PCE index, the Fed's preferred inflation gauge, showed signs of cooling.
The data has reinforced the Fed's cautious stance on rate cuts, with Chair Powell emphasizing before Congress that the central bank is in no hurry to ease policy.
On the trade front, Trump signed a directive instructing the US Trade Representative and Commerce Secretary to propose new country-specific tariffs, a process that could take weeks or months. Investors await further details and remain hopeful that negotiations could avert the levies.
Source: Trading Economics
The dollar flirted with a two-month peak on Thursday after Federal Reserve Chair Jerome Powell stuck to his patient approach on rates in a closely watched policy decision and offered little insight on...
The dollar advanced against major peers on Wednesday following better-than-expected U.S. GDP data and as investors awaited the outcome of the Federal Reserve's policy meeting later in the session. U....
The US dollar index weakened on Wednesday (July 30th), snapping a four-day winning streak as investors remained cautious ahead of the Federal Reserve's policy meeting, following a sharp reaction to th...
The US dollar (USD) held firm on Tuesday (July 29th) after posting its strongest daily gain since May, gaining 1.0% on Monday. This rally came after the United States (US) and the European Union (EU) ...
A dollar index remained steady as traders weigh US-China trade talks ahead of key economic data releases expected later this week. The Bloomberg Dollar Spot Index little changed on Tuesday after...
The Bank of Japan held its benchmark interest rate steady and raised its inflation outlook more than expected in a sign it may be closer to a rate hike, while continuing to warn that it's still assessing the impact of President Donald Trump's...
The Japanese Yen (JPY) edges higher against a softer US Dollar (USD) during the Asian session on Thursday and recovers a part of the previous day's slide to its lowest level since early April. Data released from Japan earlier today showed that...
The Australian Dollar (AUD) appreciates on Thursday, halting its five-day losing streak. The AUD/USD pair maintains its position following the release of key economic data from Australia and its close trading partner, China. Australia's Retail...
European stock markets closed higher in Tuesday trading as the Stoxx Europe 600 was up 0.33%, Germany's DAX climbed 1.03%, the FTSE 100 gained...
Europe's Stoxx 600 index erased earlier gains to close 0.23% lower as investors turned less positive over the details of the U.S.-EU trade...
The European Union and the U.S. will form a "metals alliance" to counter the impact of subsidised Chinese production on global markets, as part of...
US stocks maintained modest gains on Tuesday (July 29) as the market digested a series of earnings reports ahead of key economic developments. The...