The Dow Jones Industrial Average (DJIA) fell on Friday, shedding over 600 points from the previous day’s close as investors pulled back following Israel’s unexpected wave of strikes on Iran. Consumer sentiment data rebounded more than expected, helping to ease Friday’s downside momentum.
The US Dollar Index (DXY) is trading higher on Friday, with markets shifting focus on Israel’s war against Iran.
The dollar is stronger across the board this morning after Israel attacked Iran's nuclear facilities. The main transmission channel from this specific geopolitical risk and FX is the price of oil, which has rallied around 8% since the Israeli strike.
US Dollar (USD) fell overnight as US PPI data underwhelmed. DXY was last at 98.32 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
The US Dollar collapsed to more than three-year lows on the back of increased inflows into the safe-haven universe, while investors continued to gauge simmering geopolitical effervescence, trade uncertainty and prospects of a couple of rate cuts by the Fed this year.
The Dow Jones Industrial Average (DJIA) caught a bullish bid on Thursday, bolstered by better-than-expected Producer Price Index (PPI) inflation data for May.
During a press conference, US President Donald Trump revealed that Iran must negotiate tougher and added that he’d love to avoid a conflict with Tehran. He commented that an Israeli strike could happen but added, “I don’t want to say Israeli strike is imminent.”
Risk aversion and hopes of Fed cuts are punishing the USD.Markets are growing sceptical about Trump's ability to cut significant trade deals.Recent Fed-ECB divergence is putting additional pressure on the US Dollar.,A mix of scepticism about US trade deals and hopes of further interest rate cuts by
The US dollar depreciated yesterday following the weaker-than-expected US inflation figures and the EUR/USD exchange rate was able to rise towards its April high this morning.
US Dollar (USD) fell on softer than expected CPI. This puts focus on PPI data tonight (8:30pm) before the lead up to FOMC next week. DXY was last at 98.40 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
It is fair to say that dollar price action has been poor.
The Dow Jones Industrial Average (DJIA) rose on Wednesday, bolstered by cooler-than-expected Consumer Price Index (CPI) inflation data for May, as well as a tentative trade policy framework following two days of trade talks in London.
Today, the foreign exchange market is awaiting the week's key data: the US inflation figures for May.