The dollar index edged up to 98.5 on Tuesday, its strongest level in more than two weeks, as investors focused on a slate of key economic data for the US. Recent indicators have pointed to some softening in economic momentum.
The ISM Manufacturing PMI came in below forecasts, signalling the sharpest contraction in the factory sector since 2024, while the S&P Global Services PMI was revised lower, indicating further weakness in the services sector. Meanwhile, Richmond Fed President Barkin said that monetary policy will require "finely tuned judgments" going forward, while Governor Miran noted that the Fed may need to cut interest rates by more than 50 basis points in 2026.
Money markets are currently pricing in two quarter-point rate cuts by the Fed this year. The dollar strengthened mainly against the Swiss franc and the euro, although the common currency found some support from lower-than-expected inflation readings in Germany and France.
Source: Trading Economi
The US dollar is expected to rise for a third straight day on Thursday (January 8), but trading remains cautious as investors position themselves ahead of Friday's Nonfarm Payrolls (NFP) report. Recen...
The US dollar opened 2026 weakly on Friday. Throughout last year, the dollar was pressured by many major currencies due to narrowing interest rate differentials between the US and other countries. Con...
The US Dollar Index (DXY) remained slightly higher in a quiet year-end session on Wednesday. However, it has lost most of its intraday gains, having peaked at 98.44, and is trading near 98.25 ahead of...
The US Dollar Index (DXY) remains marginally higher in a quiet year-end session on Wednesday. Still, the Index has given away most of the daily gains, after peaking at 98.44, and trades near 98.25 hea...
A Bloomberg gauge for the dollar is headed for its worst week since June, and US Treasury bonds are rising as traders await data due early next month to confirm expectations of further Federal Reserve...
Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening...
Stephen Miran, a Federal Reserve governor whose term ends at the end of January, said Thursday that he is looking for 150 basis points of interest-rate cuts this year to boost the U.S. labor market. Miran told Bloomberg Television's Surveillance...
According to a report from the US Department of Labor (DOL) released on Thursday, the number of Americans filing new applications for unemployment insurance rose to 208,000 for the week ending January 3. This latest figure was lower than the...
Greenland is not only a strategic location, but also a world-class mineral repository. The island holds vast reserves of rare earth elements (REEs),...
Asian stock markets weakened slightly on Wednesday after posting their best start to the year in history. The decline was driven by a decline in...
Further changes to the Federal Reserve's short-term interest rate will need to be "finely tuned" to incoming data given the risks to both the U.S....
The world community must make clear that U.S. intervention in Venezuela is a violation of international law that makes the world less safe, the...