The United States Dollar Index (DXY) rises some 0.17% following a stellar Nonfarm Payrolls report, with the economy creating nearly three times as many jobs as expected by most economists, as revealed by the Bureau of Labour Statistics (BLS).
ING’s James Knightley notes that stronger-than-expected US August jobs data, with 162,000 new positions and upward revisions, has increased the perceived likelihood of a September Federal Reserve rate hike.
The US Dollar (USD) is marginally up on Friday ahead of the United States (US) Nonfarm Payrolls (NFP) data for August, which will be published at 12:30 GMT.
ING’s Chris Turner notes that dovish comments from Federal Reserve official Christopher Waller have pushed US yields and the Dollar lower, while supporting equities and high-yielding FX.
OCBC’s Christopher Wong notes that the Dollar Index (DXY) has eased alongside lower UST yields after Fed Governor Waller signalled a preference to keep rates unchanged in September if disinflation persists.
Dow Jones futures inch lower by 0.06% to trade near 53,710 during European hours on Friday. Meanwhile, S&P 500 futures advance by 0.06% to trade near 7,760, while Nasdaq 100 futures rise by 0.38% to trade around 29,640.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.00 in the early European trading hours on Friday.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is losing ground for the third consecutive day and trading around 99.00 during Asian hours on Friday.
The Dow Jones Industrial Average closed just under 53,700 on Thursday, up roughly 620 points and close to 1.2%, its strongest session since August 4, after a Fed governor said he would be inclined to support holding rates at the September 15-16 meeting if the next two weeks of inflation data behave.
The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, slides below 99.00 to its lowest level in over a week on Thursday. At the time of writing, DXY trades around 98.90, down 0.67% on the day, after reaching 99.86 on Wednesday.
The Dow Jones Industrial Average trades near 53,750, up 1.3% and on track for its strongest session since early August, after a Fed governor said he would be inclined to support holding rates at the September 15-16 meeting if the inflation data due over the next two weeks keep behaving.
The US Dollar (USD), as measured by the US Dollar Index (DXY), is showing signs of floor-building following a volatile month, as the heavy hedging pressure triggered by a dovish reading of the July Federal Open Market Committee (FOMC) meeting subsides.
Brown Brothers Harriman’s (BBH) Elias Haddad notes the US Dollar (USD) is softer mainly against the Japanese Yen and Swiss Franc, with Brent Oil nearing $100.
Dow Jones futures gain by 0.18% to trade near 53,220 during European hours on Thursday. Meanwhile, S&P 500 futures advance by 0.16% to trade near 7,690, while Nasdaq 100 futures inch higher by 0.03% to trade around 29,200.
BNY’s Geoff Yu notes that the July FOMC-driven Dollar hedging impulse has largely run its course, with early signs of USD buying returning against EUR, MXN and CAD.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.40 in the early European trading hours on Thursday. The DXY faces some selling pressure while US Treasury yields slipped from multi-year highs.
The US President Donald Trump commented that a renewed campaign against Iran “won’t continue for too long, adding that he is prepared to do another attack on Iran.
The US Dollar (USD) has traded in quite a volatile fashion on Wednesday, always amid the unabated tensions from the US-Iran crisis, speculation over another bout of FX intervention by Japanese authorities and bets for whatever the Fed might do or not do in the next few months.
The Dow Jones Industrial Average trades near 53,000 and roughly 250 points higher, having opened just above 52,750, dipped to a session low beneath the rising 50-day Exponential Moving Average (EMA) near 52,700, and recovered the whole of that ground.
The US Dollar Index (DXY) trades on the back foot on Wednesday as a sharp rise in the Japanese Yen (JPY) forces the Greenback to reverse its earlier intraday gains. At the time of writing, DXY trades around 99.55, down 0.11% on the day, after reaching 99.86, its highest level since August 14.
According to MUFG’s Lee Hardman, rising energy prices are pushing market expectations for further Federal Reserve tightening, with 17bps priced for the 16th September FOMC and the 2-year US Treasury yield at a year-to-date high.
Brown Brothers Harriman’s (BBH) Elias Haddad notes the US Dollar (USD) is supported by widening US-G6 yield spreads and resilient US data, which keep Federal Reserve (Fed) rate hike expectations alive in the near term.
The US Dollar (USD) reflects strength against its currency peers on Wednesday as United States bond yields surge further due to rising oil prices and hawkish Federal Reserve (Fed) expectations.
Dow Jones futures inch higher by 0.05% to trade near 52,850 during European hours on Wednesday. Meanwhile, S&P 500 futures decline by 0.4%, to trade around 7,640, while Nasdaq 100 futures lose 0.19% to trade around 29,070.
The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for August next Wednesday.
The US Dollar Index (DXY) edges higher on Tuesday, reversing all of the previous day’s losses as hawkish Federal Reserve (Fed) expectations and rising US Treasury yields provide a strong tailwind.
The US Dollar (USD) has managed to leave behind the negative start to the week and regained balance on Tuesday. The recovery has come on the back of a generalised recovery in US Treasury yields and ongoing tensions in the geopolitical landscape.
The Dow Jones Industrial Average trades near 52,750, roughly 450 points and 0.85% lower, at fresh session lows made after Central Command confirmed that American forces had begun striking Islamic Revolutionary Guard Corps (IRGC) targets inside Iran.
TD Securities’ macro team, led by Jayati Bharadwaj, Howard Du and Linda Cheng, maintains a bearish view on the Dollar despite a hawkish market reaction to Chair Warsh’s Jackson Hole speech.
ING’s Francesco Pesole notes the Dollar has surrendered around half of its post-Jackson Hole gains, even as front-end US rates remain firmly supported. He argues that concerns over long-end yields and potential Treasury intervention are feeding a debasement narrative.