The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, remains stronger for the seventh successive day and is trading around 100.00 during the Asian hours on Friday.
The Greenback surged as the US Personal Consumption Expenditure (PCE) Price Index report suggested that price pressures would increase in the second half of 2025 and delay the US Federal Reserve's (Fed) interest rate cuts until at least October. Traders await the United States (US) Nonfarm Payrolls (NFP), due later in the North American session, which is expected to hold in positive territory in July.
However, the market sentiment remained cautious after US President Donald Trump imposed higher tariff rates on US trading partners set to go into effect on August 1. On Thursday, Trump signed an executive order imposing tariffs ranging from 10% to 41% on US imports from dozens of countries and foreign locations, including Canada, India, and Taiwan, that failed to reach trade deals deadline, per Reuters.
The US Bureau of Economic Analysis reported on Thursday that Core US Personal Consumption Expenditure Price Index (PCE) inflation ticked higher in June, rising 0.3% MoM as many market participants had expected. On an annualized basis, PCE inflation accelerated to 2.6% YoY, outrunning the expected hold at 2.5%.
The US Department of Labour (DOL) released Initial Jobless Claims, the number of US citizens submitting new applications for unemployment insurance, which rose to 218K for the week ending July 26. The latest print fell short of initial estimates (224K), while last week's prints stood at 217K.
Source: FXstreet
The dollar headed for its strongest weekly performance in nearly three years against major currencies, maintaining momentum on Friday (August 1st) after US President Donald Trump imposed new tariffs o...
The dollar was poised for its first monthly gain of the year against major currencies on Thursday, underpinned by easing trade tensions and U.S. economic resilience. In a widely expected move, the Ba...
The dollar flirted with a two-month peak on Thursday after Federal Reserve Chair Jerome Powell stuck to his patient approach on rates in a closely watched policy decision and offered little insight on...
The dollar advanced against major peers on Wednesday following better-than-expected U.S. GDP data and as investors awaited the outcome of the Federal Reserve's policy meeting later in the session. U....
The US dollar index weakened on Wednesday (July 30th), snapping a four-day winning streak as investors remained cautious ahead of the Federal Reserve's policy meeting, following a sharp reaction to th...
The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) on Friday, giving back most of its earlier gains despite broad weakness in the Greenback following a disappointing Nonfarm Payrolls (NFP) data. The AUD/USD initially...
Oil prices $2 a barrel on Friday because of jitters about a possible increase in production by OPEC and its allies, while a weaker-than-expected U.S. jobs report fed worries about demand. Brent crude futures settled at $69.67 a barrel, down $2.03,...
The yen has suffered a difficult month, but BCA Research thinks the Japanese currency is primed for a multi-year rally. At 08:30 ET (12:30 GMT), USD/JPY traded 0.2% lower at Y150.49, having earlier in the session climbed as high as Y150.91, the...
Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, rose to 2.6% in...
Asia-Pacific markets traded mixed Thursday as investors assessed the U.S.′ blanket 15% tariffs on imports from South Korea and awaited details on...
The pan-European Stoxx 600 index provisionally closed just below the flatline on Wednesday, with sectors diverging as second quarter earnings season...
According to a report from the US Department of Labor (DOL) released on Thursday, the number of Americans filing new applications for unemployment...