The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, faced losses of around 1.3% in just three trading days on Wednesday (5/21), trading near 99.58. Throughout the week, the USD has paid the price for the erratic policy changes of the Trump administration, which has faced difficulties on several fronts.
US President Trump no longer seems to have a firm grip on Israeli Prime Minister Benjamin Netanyahu. During his tour of the Middle East, Trump declared it was time for a new nuclear deal with Iran and a second chance.
However, in the final trading hours on Tuesday, CNN reported that Israel was considering attacking nuclear installations in Iran – something former President Joe Biden managed to avoid – and undoing President Trump's diplomatic efforts over the past few days in the region.
The second front is domestic, with another failure for what Trump called the "Big Beautiful Bill". Trump is frustrated by demands to significantly increase the state and local tax (SALT) deduction cap, signaling a deadlock in passing a sweeping tax cut bill.
Trump told lawmakers not to let the SALT deduction or disagreements over cuts to the social safety net stall the bill, but lawmakers from high-tax states and conservative hardliners are still opposing the bill unless their changes are made, Bloomberg reported. (Newsmaker23)
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,...
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...
The University of Michigan (UoM) is expected to release the preliminary reading of its monthly Consumer Confidence Index for September on Friday....
The Nasdaq Composite notched a perfect week of closing highs on Friday as investors took signs of weakening jobs and tame inflation to mean the...