Breaking News

Dollar plummets to three-week trough

News Date: 16/8/2016 05:29:20
 
U.S. dollar skidded on Monday to its lowest in three weeks as the yen and European currencies surged, while odds lengthened further on any Federal Reserve's rate hike this year due to global risks.

The dollar index, which gauges the greenback against a bunch of six major peers, slumped to 94.91, down 0.70% on the day and having set a three-week low at 94.83, while yen surged to a month high to 100.23, up a strong 1.01% on the day.

Oil prices added to their gains on hopes of a global deal to curb or freeze production, with Brent crude futures up 25 cents, or 0.54% to $48.61 a barrel, while U.S. crude futures added 30 cents, or 0.68% to $46.04 a barrel.

Sterling also surged after surprising robust inflation data, with the CPI up 0.6% m/m in July, beating expectations of a 0.5% rise. The pound gained 0.73% against the dollar to 1.2974.

Investors now await a bunch of important U.S. data later, with consumer prices forecast to have stayed the same in July m/m, compared to June's 0.2% rise, which would lessen the chances further of a rate hike this year.

Industrial production is also expected to slow down in July to plus 0.2% m/m, down from June's 0.6% rise, which could add to pressures on the greenback today.
 

Latest news

Crude oil futures declined. According to the New York Stock Exchange, crude oil futures were traded in November at a price of 86.12 dollars a barrel, ie, it decreased by 0.46%. And in light of OPEC
10-2022 05 04:16:02

The US dollar fell to its lowest level in two weeks at the beginning of trading on Tuesday, due to the high risk sentiment, while the sterling pound maintained its recent gains after the British gove
10-2022 04 07:12:28

Japanese stocks opened today’s trading on a positive note, dragging its indices to the upside, especially chips and energy stocks. So, the Nikkei index rose by 1.07% to reach 26,215.79 points,
10-2022 03 03:36:24

Wall Street closed yesterday evening sharply lower, because of some economic concerns related to inflation, which could reflect negatively on the US economy, not also this, but also the investor's c
09-2022 30 03:07:57

The futures contracts for oil witnessed an increase, as it rose by 0.16%. According to the New York Mercantile Exchange, the futures contracts for crude oil were traded in November at 82.02 dollars p
09-2022 29 02:42:06

More News

Logs

Advertisements