The dollar index was at the 98 mark on Wednesday, halting the slide that tested three-year lows yesterday as markets continued to assess the monetary policy outlook for the Federal Reserve.
In his first testimony before Congress, Chairman Powell noted that the uncertain economic backdrop drove FOMC members to wait for clarity on trade policy before committing to a specific rate path.
Still, Powell noted that the lack of tariffs favor the continuation of a disinflationary outlook, favoring rate cuts should the White House refrain from reintroducing tariffs on the July 9th deadline.
In the meantime, oil and LNG tankers continued to navigate in the Strait of Hormuz despite the brief escalation of the conflict between Iran and Israel, triggering a plunge in energy prices and magnifying bets of lower inflation stateside.
Externally, economic data continued to favor rate cuts by G10 monetary authorities, also preventing the further depreciation of the greenback.
Source: Trading Economics
The dollar fell due to disappointing US jobs data, with layoffs reaching more than 150,000 in October, the highest in over 20 years. Another factor: the market is now considering the possibility that...
The US Dollar trims losses on Friday with investors wary of risk following another sell-off on Wall Street, as concerns of an AI bubble remain alive. The USD Index, which measures the value of the Dol...
The U.S. dollar edged up on Wednesday, extending its gains from last week on doubts about the outlook for another Fed rate cut this year and as private payrolls data assuaged worries over the state of...
The US dollar held near a three-month high on Tuesday (November 4th) as a divided Federal Reserve prompted traders to reduce their bets on a rate cut, while the Japanese yen strengthened after a verba...
The US dollar held near a three-month high on Monday (November 3rd) ahead of economic data this week that will provide only vague clues about the health of the US economy and could reinforce the Feder...
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as U.S. President Donald Trump met Hungary's Prime Minister Viktor Orban at the White House. Brent crude futures settled at $63.63 a barrel, up 25 cents...
US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated valuations evident. The DAX index in Germany dropped 0.8% and the CAC 40 in France declined 0.2%,...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated...
Two weeks before the US Federal Reserve's final meeting, with the federal government's data taps closed, Atlanta Fed staff bolstered their economic...
Chicago Federal Reserve President Austan Goolsbee on Thursday said the lack of official data on inflation during the government shutdown...
Asian stocks slipped at the open on Friday (November 7), following a choppy session on Wall Street. The MSCI Asia Pacific Index fell about 0.2%, led...