The dollar index held below 100 on Wednesday, continuing its decline from the previous session. Pressure stemmed from weak US economic data, reinforcing market confidence that the Fed will cut interest rates at its December meeting.
Data showed that US retail sales rose less than expected in September, while consumer confidence fell sharply in November. This indicates that consumer spending is beginning to slow after months of strong demand.
Currently, market participants estimate an 84% chance of a 25 basis point Fed rate cut next month, up sharply from around 50% a week earlier. This expectation is a major factor in the dollar's weakness.
Meanwhile, reports also indicate that Kevin Hassett, Director of the White House National Economic Council, is now a leading candidate for the next Fed Chair. Hassett is known for his view that interest rates should be lower than their current levels, causing the dollar to weaken against many currencies, particularly the New Zealand dollar and the Australian dollar.
Source: Newsmaker.id
The U.S. dollar strengthened slightly on Friday, but the greenback is still facing its sharpest weekly drop since July as traders assess the probability of a rate reduction by the U.S. Federal Reserve...
The US dollar weakened and is heading for one of its worst weeks since mid-year as markets increasingly believe the Federal Reserve will cut interest rates in December. Expectations of this policy eas...
This week's US Dollar (USD) pullback reflects Fed-driven rate expectations rather than geopolitical shifts, while thinner Thanksgiving liquidity may set the stage for potential USD/JPY intervention, I...
The dollar index weakened for a third straight day on Thursday, as markets grew increasingly confident the Federal Reserve would cut interest rates at its December meeting, ahead of the US Thanksgivin...
According to the latest reports, the US dollar weakened against many major world currencies after disappointing US economic data reinforced speculation that the Federal Reserve (The Fed) will cut inte...
Hong Kong's equity market commenced Tuesday's trading session with modest gains, as investors displayed cautious optimism. The benchmark Hang Seng Index advanced by 86 points, or 0.33 per cent, to open at 25,945. Supporting the positive opening,...
Fundamentally, Brent crude oil is trending higher today, hovering around USD 63 per barrel, continuing its rebound from its lows in recent weeks. The main catalyst was the OPEC+ meeting, which decided to maintain current production levels until at...
Gold prices weakened in early December, dragged down by investor caution ahead of the Federal Reserve's looming interest rate decision. Amid speculation that the Fed was ready to cut rates again this month, market participants opted to hold back,...
Trading on the Chicago Mercantile Exchange (CME) was halted on Friday (November 28th) following a cooling issue at one of its data centers.
"Due to...
Conflicting signals from the Federal Reserve on the timing and magnitude of U.S. interest rate cuts have accelerated hedging flows into swaptions...
European stocks ended Friday in positive territory as investors digested the end of a choppy month.
The pan-European Stoxx 600 closed the session...
Both the STOXX 50 and the STOXX 600 hovered around the flatline on the final trading day of a volatile November, as the recent rally in global...