The US Dollar (USD) kicks off the week on the back foot, slipping against major currencies in Monday trading. Investors are reacting to renewed trade tensions ahead of the August 1 deadline and a generally cautious market sentiment. Despite mostly solid US economic data lately, the Greenback is feeling the heat from ongoing uncertainty surrounding the US President Donald Trump administration's ramped-up tariff threats and increasing political pressure on the Federal Reserve (Fed) to cut interest rates.
The US Dollar Index (DXY), which measures the Greenback against six major currencies, is slipping further after a mild drop in Monday's Asian session after notching two consecutive weekly gains. Despite a turbulent week marked by fresh tariff threats and reports that President Trump considered firing Fed Chair Jerome Powell, a claim he later downplayed as "highly unlikely", the US Dollar Index still managed to hold modest gains.
Mixed messages from Fed officials on a possible July rate cut added to the uncertainty, but strong economic data, including solid Retail Sales and a healthy labor market, lent support to the Greenback. The DXY ended the week up 0.62%, showcasing its resilience in the face of political noise and policy tensions. However, the broader trend suggests underlying weakness in the US dollar.
Source: Fxstreet
The US dollar index hovered around 98.4 on Monday, holding steady after two consecutive weeks of gains, as markets focused on key trade and economic developments. Commerce Secretary Howard Lutnick re...
The U.S. dollar slipped against the euro on Friday but held on to weekly gains, as investors weighed expected Federal Reserve policy amid signs that tariffs may be starting to increase some inflation ...
The US dollar (USD) weakened on Friday (July 18th), retreating from a three-week high as momentum waned. However, the greenback remained supported by strong US economic data released this week, which ...
The dollar headed for a second straight weekly gain against major peers, buoyed by some solid U.S. economic data that supported the view the Federal Reserve can afford to wait a while longer before cu...
The dollar edged lower against most Group-of-10 peers after Federal Reserve Governor Christopher Waller said the central bank should cut rates at its next meeting. Bloomberg Dollar Spot Index slipped...
The US has signaled it will not relax its August 1 deadline for higher tariffs against the European Union as the bloc struggles to reach a deal on time. Over the weekend, US Commerce Secretary Howard Lutnick said he was confident a trade deal with...
European stocks posted slight declines on Monday (July 21st) as markets continued to assess the trade outlook in the European Union. The Eurozone STOXX 50 fell 0.3% to close at 5,342, and the pan-European STOXX 600 fell 0.1% to 546. US officials...
Gold rose to its highest level in more than a month as traders assessed the impact of tariffs on inflation and interest rates in the absence of relevant economic data. The dollar and bond yields weakened on Monday, pushing bullion prices up as...
Federal Reserve Governor Chris Waller, an advocate for an immediate interest rate cut, said on Friday he would accept the job as head of the U.S....
Stocks in the US closed near the flatline on Friday as investors weighed President Trump's push for higher tariffs on the European Union against...
Asia-Pacific markets traded mixed Monday, as investors keep a close watch on the People's Bank of China's decision on its 1-year and 5-year loan...
Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged...