The US dollar index (DXY) continued its slide on Friday, falling near the 100 area after hitting a fresh three-year low earlier in the day. The downtrend reflects a broad decline in investor confidence as fresh data and central bank comments paint a grim picture for the US economy. The University of Michigan sentiment index fell in April, while the Producer Price Index came in below estimates, adding to market fears of disinflation. Several Federal Reserve officials have flagged rising inflation expectations as a risk, even as near-term economic data hints at weakening demand.
Technically, momentum remains firmly bearish as the DXY extends its decline.
Daily market digest: US dollar drops on consumer gloom, tariff impact
The University of Michigan sentiment gauge fell to 50.8 in April, while inflation expectations jumped to 6.7% on a one-year view. New York Fed's Williams and Boston Fed's Collins warned of rising trade-related inflation risks and a possible slowdown in growth.
The US Producer Price Index rose 2.7% year-on-year in March, down from 3.2% in February, while the core rate slowed to 3.3%.
Jobless claims edged up to 223,000, with continuing claims falling to 1.85 million, signaling mixed employment dynamics.
China confirmed retaliatory tariffs on US imports, matching Washington's tariff hike to 125% and rekindling fears of a global recession. (Newsmaker23)
Source: FXstreet
The US dollar weakened on Friday after a surge in jobless claims and a moderate rise in inflation made markets increasingly confident that the Fed would cut interest rates next week—and possibly furth...
The US dollar held steady early in the Asian session after the PPI data fell 0.1% in August, reinforcing expectations that the Fed would cut interest rates next week. The Dollar Index edged up to 97.8...
The US dollar held steady on Wednesday (September 10th) ahead of US inflation data this week that could help shape the Federal Reserve's policy outlook, while tense geopolitical conditions supported c...
The dollar index held around 97.8 on Wednesday after firming in the prior session, as investors awaited key inflation reports that could influence the Federal Reserve's policy stance. The producer pr...
A Bloomberg gauge of the dollar rose late in New York trading alongside Treasury yields as investors look to the release of CPI data this week to gauge the Fed's rate-cutting path. Earlier, the yen ra...
Silver price (XAG/USD) extends its winning streak for the third successive session, marking a fresh 14-year high at $42.17 during the Asian hours on Friday. The precious Silver attracts buyers as market expectations for three Federal Reserve (Fed)...
Gold prices rose on Friday and were set for a fourth consecutive weekly gain, as mounting concerns over a weakening U.S. labour market eclipsed inflation worries ahead of a widely expected Federal Reserve rate cut next week. Spot gold was up 0.6%...
Gold prices continue to approach $3,650 per ounce and are poised for a fourth weekly gain. This was fueled by expectations that the Federal Reserve will cut US interest rates, as inflows into gold-backed ETFs increased. Silver also rallied,...
The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday...
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in...
The International Monetary Fund on Thursday said the Federal Reserve has scope to lower interest rates because of the weakening U.S. labor market,...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...