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 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...
The dollar hit a seven-week low on Tuesday as investors braced for revised US data that could indicate the labor market is in worse shape than initially estimated, strengthening the likelihood of a de...
Oil prices held steady on Thursday (September 11th) as concerns over weakening US demand and the risk of a wider oversupply were offset by concerns over attacks in the Middle East and Russia's war in Ukraine. Brent crude futures fell 13 cents, or...
Brent oil prices weakened on Thursday (September 11th), falling towards the $66 per barrel range after a three-day rally ended. Selling pressure emerged as investors weighed the outlook for global energy demand amid economic uncertainty, including...
European stocks edged higher on Thursday ahead of the ECB policy decision and the US CPI release. At 07:05 GMT, Germany's DAX rose 0.1%, France's CAC 40 +0.3%, and the UK's FTSE 100 +0.3%. Gains were limited as investors chose to wait for these two...
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...
Russian forces attacked a thermal power plant in the Kyiv region as part of an overnight attack, Ukraine's Energy Ministry said on Monday,...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...
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...