The Dow Jones Industrial Average (DJIA) sank on Friday, falling nearly 500 points at its lowest after United States (US) Nonfarm Payrolls (NFP) data showed the US added far fewer jobs than expected, pinning expectations of a Federal Reserve (Fed) interest rate cut on September 17.
The Greenback loses further momentum on Friday, en route to weekly losses.
The US Dollar is losing ground against its main peers on Friday, with the market anticipating a soft US Nonfarm Payrolls Report, due later today, to confirm market expectations that the Federal Reserve will finally cut interest rates in September.The US Dollar Index, which measures the value of the
US August nonfarm payrolls (NFP) takes center stage today (1:30pm London, 8:30am New York). Ahead of the numbers, USD is trading on the defensive against all major currencies, global equity markets are rallying, and bond yields continue to correct lower, BBH FX analysts report.
The US dollar was able to gain broadly amidst the turbulence in the bond market. This is particularly remarkable because the rise in US yields was likely not due to positive economic prospects but rather to an increasing risk premium.
The US dollar has certainly shown some better resilience this week although the gains recorded yesterday have reversed so far today – a possible delayed reaction to the steady stream of weak labour market data ahead of today’s nonfarm payrolls report.
One more point on today's data: weak employment growth would not only have implications for US monetary policy, it would also indicate whether the dismissal of the head of the responsible statistics office could have an impact on data collection, Commerzbank's Head of FX and Commodity Research Thu L
Dow Jones futures are trading practically flat a few hours ahead of the US market opening on Friday.
Overnight data continued to show that US labour market is softening. Dollar Index (DXY) last at 97.98 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
There are mostly downside risks for the dollar today as the US releases jobs numbers for August, ING's FX analyst Francesco Pesole notes.
The Dow Jones Industrial Average (DJIA) hit the bids running on Thursday, climbing over 250 points after disappointing ADP jobs data counterintuitively sent equity markets rallying.
The US Dollar (USD) is tracking a little higher overall on little or no new developments.
US Dollar (USD) retraced some of yesterday’s losses and continues to trade within the narrow range seen since early August. Global bond and equity markets have stabilized.
We noted yesterday that the slump in long-dated global bonds was unlikely to sustain dollar strength. That’s proven true – the dollar has given back some gains, and focus has shifted back to the data, ING's FX analyst Francesco Pesole notes.
US Dollar (USD) slipped overnight after rising the session before. DXY last at 98.29 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
The Dow Jones Industrial Average (DJIA) missed the bullish bus on Wednesday, lagging its index peers and slumping over 250 points.
The US Dollar (USD) has slipped back somewhat overall through the course of the European morning session, giving up early gains to trade a little softer overall against most of its major currency peers as the North American day gets underway, Scotiabank's Chief FX Strategists Shaun Osborne and Eric
US Dollar (USD) rose overnight but range remains confined to recent levels. DXY last at 98.28 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Yesterday’s US Dollar (USD) rally lacked a clear catalyst beyond the selloff in global long-dated bonds – including the high-profile UK gilts. Rising debt concerns outside the US may have triggered some unwinding of abundant USD longs.
The US ISM manufacturing index was good for a few short-term pips, but it failed to give the dollar a real blow yesterday. This is hardly surprising.
Dow Jones futures extend losses in the overnight session on Wednesday. United States (US) equities are facing selling pressure as appeals of court has announced a verdict against a majority of tariffs imposed by President Donald Trump since his return to the White House.
The Dollar is moving higher for the second consecutive day on Wednesday, but USD bulls are showing signs of hesitation –the large wicks in the 4-hour candle– as price action approaches a cluster of resistances between 98.65 and 98.85.The fundamental background remains favourable, with investors wary
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, drifts higher near 98.40 during the early Asian trading hours on Wednesday. The US JOLTS Job Openings and the Fed Beige Book will be released later on Wednesday.
The US Dollar (USD) regained sudden buying interest and advanced to multi-day highs on Tuesday as investors continued to factor in a couple of interest rate cuts by the Federal Reserve in the latter part of the year.
The Dow Jones Industrial Average (DJIA) shed around 550 points on Tuesday, with American markets returning from a long weekend with renewed selling pressure. Rising bond yields, government funding concerns, and fresh inflation concerns pummel investor sentiment through the overnight session.
Welcome to September. A traditionally tough month for stocks and, more recently bonds, is starting off in rather typical fashion, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The euro area's inflation figures may not be very exciting, but the US is returning from an extended Labour Day weekend today to start a busy week, Commerzbank's FX analyst Michael Pfister notes.
The dollar is drifting higher in quiet conditions. Weekend news about US tariffs being ruled illegal has not had much impact so far. US Treasury yields have been marked a couple of basis points higher, and US equity futures are slightly lower, ING's FX analyst Chris Turner notes.
US Dollar (USD) a touch firmer this morning in quiet trade as US markets were closed for Labour Day holiday yesterday. DXY last at 98.35 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
The US Labor Day holiday and the closed US Treasury market make it a little difficult to infer what investors make of Friday's federal appeals court ruling that President Donald Trump's universal tariffs were illegal.