Euro founders anxious over recession; stocks falter a bit
As a recession loomed threateningly, equities were worried over growth but also relieved that a possible slow pace in the economy will anchor down the spikes in interest rates. On Thursday, the euro settled at a frightening two-decade low and oil coddled losses as investors went haywire over the inevitable initial stages of recession right […]
Dollar edges up as jolt from Fed minutes wanes
The U.S. dollar edged up after a flurry of economic data. This includes weekly labor market numbers, in a more muted move a day after a spike higher. This is after following the release of minutes from the Federal Reserve’s meeting. The dollar sharply pared losses of as much as 0.44% after the minutes showed […]
Despite UK economic slowdown, Sterling has raised against dollar
Sterling rose against the dollar and edged up on the euro. This is despite official data showing Britain’s economy grew more slowly than previously thought before the recent Omicron variant surge in COVID cases. Official data shows that the British gross domestic product grew by 1.1% in the third quarter between July and September. This […]
After robust US retail sales data, Dollar is at 16 months high
The dollar rose to a 16-month high. This is after data showed U.S. consumers looked past rising prices. And they drove retail sales higher than expected last month. The euro slumped amid growth concerns and there is a surge in COVID-19 cases in Europe. U.S. retail sales rose 1.7% in October. This had topped consensus […]
Dollar near one year high, Fed tightening in focus
The dollar hovered near a one-year high versus major peers, following a two-day surge. This is in the middle of expectations for a tapering of Federal Reserve stimulus from November and a possible interest rate hike in late 2022. The safe-haven greenback also saw a bid on worries the Fed could start to tighten into […]
Dollar wallows near one week low
The dollar wallowed near its lowest level in a week. This is because, the improved risk sentiment wiped out recent gains amid easing concerns about contagion from a potential China Evergrande Group default. Risk appetite returned, lifting oil and global equities. The 10-year U.S. Treasury notes hit the highest since July overnight at 1.437%. That […]
One month high-Dollar, Evergrande risks
The dollar held below a near one-month high. This is because the investors focused on two key risks. One is the Chinese property developer Evergrande and the other one expected pace of U.S. monetary policy tightening. The dollar index stood at 93.226 in early Asian trade. The euro changed hands at $1.1725. The common currency […]
Pound set for worst week in months as global jitters boost dollar
Sterling touched one-month lows against a robust dollar and the euro. This has capped the pound’s worst week in months as global risk aversion propelled investors towards currencies considered safer. Risk currencies such as sterling have taken a knock, and also has worries that the Delta coronavirus variant could derail the global recovery. British retail […]
Bearish bets soften on Asian FX as US dollars eases
Investors trimmed bearish bets on most Asian currencies. This is because the dollar weakened on hopes of a temporary pushback in the Federal Reserve’s tapering timeline, while sentiment on the Indian rupee turned marginally bullish. Investors unwound their bearish bets on the Indian rupee to be slightly bullish. 0.2% in August were appreciated by the […]
Dollar stands tall as Covid stalks kiwi
The dollar hit a nine-month high against the euro. The euro touched $1.1702 early in the Asia session, its lowest since November 2020, before recovering slightly to $1.1718. The kiwi, that was heavily sold, fell further to also make a nine-month trough at $0.6868 after the Reserve Bank of New Zealand held off on raising rates amid […]