Tag Archives: Dollar Index
U.S. Dollar Strengthens Amid Better-Than-Expected Economic Data
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Unemployment claims fell to a one-month low, signalling a gradual and orderly slowdown in the labour market. Companies are scaling back hiring, struggling to keep up with the influx of labour driven by increased immigration. Conversely, retail sales surged by 1.0% last month, marking the largest gain since January 2023, following a downwardly revised 0.2% […]
Dollar dips, yields fall on softer US PPI data
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On Tuesday, a softer-than-expected rise in US producer prices in July, up 0.1% against estimates of 0.2% eased dollar. The Dollar Index dipped 0.51%, closed at 102.6 against other major currencies. The higher goods costs offset by more affordable services, signaling a continued moderation in inflation. This led to a rally in Treasuries, driving tiled […]
Focus on USDX today – 9th AUG 2024
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In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the USDX for AUG 9 2024. Key Takeaways Technical Analysis Daily Chart Insights H1 Chart Insights Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
US Markets Tumble Amid Weak Jobs Report and Mixed Earnings, Dollar Weakens
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The US stock market experienced a sharp drop on Friday, with major indices closing significantly lower. The S&P 500 fell 1.84%, the Nasdaq sank 2.43%, and the Dow Jones plunged nearly 610.71 points (-1.51%). The downturn was primarily driven by a weaker-than-expected jobs report, which raised concerns about a slowing economy. For the week, the […]
Dollar Holds Ground as PCE Data Spurs Rate Cut Bets
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On Friday, the dollar index hovered around 104.3 following the release of US PCE inflation data. The figures, which aligned with expectations, indicated softening price pressures and strengthened the case for the Federal Reserve to lower borrowing costs this year. Core PCE prices showed the smallest monthly increase in six months, rising just 0.2%. The […]
Focus on USDX today – 12th July 2024
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In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the USDX for July 12 2024. Key Takeaways Technical Analysis Daily Chart Insights H1 Chart Insights Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
US PCE Index Holds Steady in May 2024, Showing Signs of Easing Inflation
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The Personal Consumption Expenditure (PCE) price index in the United States remained unchanged in May 2024 compared to the previous month, marking the smallest change in six months. It follows a 0.3% increase in April and aligns with economists’ forecasts. Breaking down the index, prices for goods decreased by 0.4%, while prices for services saw […]
Favorable Producer Prices Data Signals Ongoing Moderation in Inflation
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The U.S. Bureau of Labor Statistics (BLS) disclosed its latest figures on Thursday, revealing the Producer Price Index (PPI) for May. This index, which measures the average change over time in the selling prices received by domestic producers for their output, showed a year-on-year increase of 2.2%. The growth rate is slightly below what financial […]
US Manufacturing sector contracts, US dollar nosedived
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US dollar fell to two-months low against other major currencies after recent data show signs of gradual economic slowdown. The data spurred expectations that Federal Reserve remains on track to start cutting its interest rates this year, raising the opportunity cost of holding US dollar. According to US Institute for Supply Management (ISM), Manufacturing PMI […]
Supply Chain Inflation Stagnates, Fed Chair Powell Rules Out Rate Hikes
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The US Producer Price Index witnessed a 0.5% month-over-month increase in April 2024, representing a significant change from the 0.1% decrease observed in March, revised down from earlier reports. The April uptick surpassed the anticipated 0.3% rise. Service prices saw their biggest jump since July, climbing 0.6% after a revised 0.1% decrease the previous month. […]