Breaking News

Dollar touches fresh 4-1/2 month high after strong data

News Date: 25/7/2016 04:16:09
 
Dollar advanced against a basket of major rivals to a new 4-1/2 month high after strong data last week showed forecast-beating manufacturing growth, which raised bets of a rate hike by the Federal Reserve before the year end.

The dollar index last traded at 97.44, up just 0.04% on the day, after setting a new 4-1/2 month high at 97.62, while the greenback added 0.12% against the yen to trade at 106.26.

Asian shares held up their ground after policymakers of the G20 countries asserted their resolve to boost global growth and trade, with the Shanghai Composite index up 0.10%, while Australian shares jumped 0.64%. Japan's Nikkei ended flat however.

Safe havens on the other hand suffered losses as risk appetite grows in the markets, with silver futures shedding 12 cents, or 0.66% to hover around $19.56 an ounce, while gold futures slid seven dollars, or 0.53% to trade at $1,324 an ounce.

Tomorrow, the Federal Reserve will convene its periodic meeting to discuss monetary policy and interest rates, expected to keep them all unchanged for the time being, with an eye on a tightening of policy in the December meeting, which would buoy the dollar.

From Britain, the CBI Industrial Order Expectations index is expected to drop further to minus 6 in July from minus 2 in June, which would add to concerns the British economy is suffering after Brexit, weighing negatively on the pound.

Latest news

The number of global Coronavirus infections is increasing at an unexpected speed, and German Chancellor Angela Merkel said yesterday that the pace of new infections is advancing day after day, and at
11-2020 17 08:37:57

Japanese stock indices closed lower today, due to undermining investor sentiment for fear of a rise in Corona cases, and the Nikkei index fell by 0.53% to 25385.87 points, and over the course of a we
11-2020 13 05:10:43

The US dollar manage this morning, to achieve progress during the trading session, as the « safe currency » rose by 0.04% to indicate 93.073, and the dollar fell against the Japanese yen
11-2020 12 08:11:42

Trump is still trying to raise the curtain on the corruption – as he claims – which was defined by the polling process in the last major US election that was sorted by Democrat Joe Biden,
11-2020 11 08:58:20

Most of the global markets rebounded on Monday, right after the opening of the weekly trading session, after Democrat Joe Biden won the US presidential elections, and both stocks and commodities rebo
11-2020 10 09:23:45

More News

Logs

Advertisements