The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades broadly flat on Monday just below the 100.00-marker.
Over the weekend, United States (US) Treasury Secretary Scott Bessent said trade deal negotiations with several Asian countries are underway, while US Agriculture Secretary Brooke Rollins added that the Trump administration is having "daily conversations" with China over tariffs.
However, China said on Monday that it is not engaged in trade negotiations with the US. The country reiterated that there are no winners in a tariff trade war and that the US should talk on a basis of mutual respect, Bloomberg reported.
In a spillover effect, retailers Temu and Shein lifted prices by as much as 300% for US consumers on its websites, Reuters reports.
On the economic calendar front, a very packed week is ahead.
The data will likely help traders assess if the Federal Reserve (Fed) will deliver an interest-rate cut in its upcoming policy meeting on May 7. The main attention this week will be on Wednesday, with the first reading of the US Gross Domestic Product (GDP) for the first quarter. Next, on Friday, the US Employment report for April – which includes the all-important Nonfarm Payrolls number – is the main event to close off the week.
Source: FXStreet
The U.S. dollar rose on Friday, a day after falling on a surge in U.S. jobless claims and modest inflation, as investors expected the Federal Reserve to cut interest rates next week after a roughly ni...
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...
EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week's monetary policy decision by the Federal Reserve (Fed). At the time of writing, the pair...
U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said. Bessent has...
Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S....
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 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...
Annual inflation in the United States (US), as measured by changes in the Consumer Price Index (CPI), rose to 2.9% in August from 2.7% in July, the...