The US Dollar recovered modestly after a discouraging Nonfarm Payrolls report sent it sub-104.00. The steady unemployment rate and the uptick in hourly wages have tempered the negative reaction on the USD. The index bounced from an intraday low of 103.68, with technical indicators showing a growing bearish momentum. The US Dollar Index (DXY) has regained…
USD/CAD falls slightly to near 1.3900 after the US NFP report for October. Labor growth was significantly lower due to hurricanes that affected various regions. The US Manufacturing PMI surprisingly declined at a faster pace. The USD/CAD pair corrects mildly to near the round-level support of 1.3900 in Friday’s New York session. The Loonie asset…
US Dollar holds its ground at the end of the week, remains in consolidation mode. Fed officials remain cautious on inflation, as Durable Goods Orders miss market expectations. Markets continue to see two cuts by year-end. The US economy remains robust with GDPNow tracking third-quarter growth at 3.4%. The strong economic outlook might push the…
The US Dollar trades mildly up as the possible escalation in the Middle East conflict drives flows towards the Greenback. Fed speakers are starting to align with market expectations for gradual to no rate cuts this year. The US Dollar Index rally could pick up steam if Donald Trump leads further in the polls. The…
The US Dollar climbed after a bumper NFP print on Friday. US jobs additions soared in September, with upside revisions to previous months. Market hopes for a follow-up outsized rate cut in November were shattered by jobs growth. The US Dollar (USD) Index (DXY) climbed into a fifth consecutive bullish day on Friday, driven higher…
In September, the US service sector experienced a marked advance, with the Services PMI rising to 54.9 from 51.5 in August, as reported by the Institute for Supply Management (ISM), exceeding the market forecast of 51.7. The report further noted an increase in the Prices Paid Index, a key inflation indicator, which climbed to 59.4…
US inflation signals are cooling with PCE reading below expectations. Consumer sentiment has rebounded, indicating brighter economic expectations. USD might see additional downside if the markets remain stubborn on November’s 50 bps cut bet. The US Dollar Index (DXY), which measures the value of the USD against a basket of major currencies, stands soft after…
DXY gave up some ground and fell to 100.60. Conference Board consumer confidence data for September missed expectations. Fed speakers are battling the current market’s dovish expectations. The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, posted some losses on Tuesday after the release of the…
US Dollar is gaining strength after Fed decision volatility. New York Fed’s Nowcast model predicts robust economic growth in third and fourth quarters. Fed expects financial conditions to remain loose, supporting the economy. The US economy is experiencing a moderate slowdown, but indicators suggest that economic activity remains robust overall. The Federal Reserve (Fed) has…
US Dollar recovers following last Friday’s gains. Inflation data takes center stage, CPI expected to show moderation. Fed easing expectations have steadied with market pricing in less aggressive cuts. The US Dollar Index (DXY), a measure of the US Dollar against a basket of six currencies, extended its recovery on Monday ahead of key inflation…