Status of the US Dollar as Global Reserve Currency: Share Drops to Lowest since 1995. Central Banks Diversify to “Nontraditional” Currencies and Gold – WOLF STREET
However, China's yuan continues to decline. Written by Wolf Richter of Wolf Street. The US dollar, which remains the number one reserve currency held by central banks, continues to slowly lose share to other key currency combinations as central banks diversify their dollar-denominated asset holdings to other currency-denominated assets. There is. And they are also […]
EUR/USD pares losses as soft US PCE inflation weighs on US Dollar – FXStreet
EUR/USD reversed intraday losses after August US PCE inflation report was softer than expected. France's CPI preliminary figures (EU standards) and Spain's HICP in September were below 2% year-on-year. The ECB increased expectations for a rate cut in October after weaker-than-expected inflation data from France and Spain. EUR/USD recovered most of its intraday losses in […]
Dollar edges down before Fed speakers, data; Swiss franc rises after SNB – Yahoo Finance
Stefano Rebaudo (Reuters) – The safe-haven dollar edged lower on Thursday as risk appetite rose, with traders focusing on speeches by the Federal Reserve's top policymaker and economic data due later in the day for clues about the pace of interest-rate cuts. Meanwhile, the Swiss franc strengthened after the Swiss National Bank cut interest rates […]
Australian Dollar receives support from divergent policy outlooks between central banks – FXStreet
The Australian dollar strengthened as the RBA and Fed adopted diverging policy outlooks. The RBA's Financial Stability Review suggests that Australia's financial system remains resilient and risks are broadly contained. China plans to inject 1 trillion yuan of capital into its major banks. The Australian dollar (AUD) recovered some of its recent losses against the […]
Trump Tax Cuts, Tariffs Will Rebuild American Industry, Strengthen Dollar
John Carney, economics editor at Breitbart News, told Fox Business Network's “Kudlow” on Wednesday that former President Donald Trump's proposed tariffs and tax cuts would rebuild U.S. industry and strengthen the dollar globally. “What Donald Trump is saying is that the United States has built an economic system where we basically pay companies to move […]
Dollar rises from 14-month low, yuan dips – Yahoo Finance
Karen Brettel NEW YORK (Reuters) – The dollar rebounded from a 14-month low against the euro in choppy trading on Wednesday, but investors maintained their bet that the Federal Reserve will deliver another big interest rate cut at its November meeting as optimism about the labor market wanes. The yuan also weakened after initially rising […]
Dollar continues to fall; euro near multi-month high – Investing.com
Investing.com – The US dollar fell on Wednesday, adding to losses from the previous day, while the euro rose despite signs of a weakening euro zone economy. As of 4 a.m. ET (9 a.m. GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was trading down 0.1% at 100.080 […]
USD/INR drifts lower on improved risk appetite, softer US Dollar – FXStreet
The Indian rupee rose in the early morning session of European markets on Wednesday. Improving risk appetite and a weaker US Dollar support the Indian Rupee (INR). Investors are awaiting U.S. August new home sales on Wednesday and Federal Reserve Chairman Kugler's speech. The Indian Rupee (INR) edged higher on Wednesday. Improved risk appetite following […]
Australian Dollar pares gains following the Monthly Consumer Price Index – FXStreet
The Australian dollar is holding firm on the back of new Chinese economic stimulus measures. Australia's monthly consumer price index rose 2.7% year-on-year in August, below the expected 2.8% increase and the previous 3.5% increase. The People's Bank of China's Gongsheng Bank said it would cut the reserve requirement rate by 50 basis points and […]
US Dollar declines after weak data, Fed battles against dovish bets – FXStreet
The DXY fell, dropping to 100.60. The Conference Board's September consumer confidence index came in below expectations. Fed chairs are currently battling dovish market expectations. The US Dollar Index (DXY), which measures the greenback's value against a basket of six currencies, recorded a slight decline on Tuesday after the release of The Conference Board's consumer […]