Dollar near one-month low as payrolls test looms
By Kevin Buckland TOKYO (Reuters) – The dollar sank to its lowest in almost a month against major rivals on Friday, ahead of a crucial U.S. jobs report that could spur the Federal Reserve to an earlier tapering of stimulus. The dollar index, which measures the greenback against six peers, slipped 0.04% to…
#USD – ADP Raises Red Flag for Non-Farm Payrolls
By Kathy Lien The U.S. dollar sold off against most of the major currencies after ADP’s employment report raised red flags for non-farm payrolls. U.S. yields turned lower once the report was released and the dollar followed quickly thereafter. Friday’s jobs report is the most important event risk this week and while economists…
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U.S. Dollar Tracks Yields Higher
By Kathy Lien The U.S. dollar snapped higher on Tuesday when Treasury yields surged right before the London close. It is difficult to pinpoint the exact catalyst, as today’s U.S. economic reports were mostly weaker, but the greenback took its cue from rates. Month-end flows may have played a role in the move…
FX: Why Fake Outs Are More Likely Than Breakouts
By Kathy Lien Fake outs are more likely than breakouts in the foreign exchange market this week. This is the last week of August and, for many, it is synonymous with the end of summer. With final outings to the beach or the beginning of school on everyone’s minds, this is traditionally a…
Dollar Flat in Europe After Powell’s Dovish Tapering Speech
By Geoffrey Smith Investing.com — The dollar is starting the week little changed, with no real correction after lurching downward on Friday in response to the speech of Federal Reserve Chairman Jerome Powell. The greenback had lost around half a percent against its major trading partners on Friday after Powell hinted that the…
Dollar on back foot as Delta worries ease before Jackson Hole
By Kevin Buckland TOKYO (Reuters) – The dollar hovered near a one-week low versus major peers on Thursday amid optimism the Delta coronavirus variant won’t derail a global economic recovery, with investors now eyeing the Fed’s Jackson Hole symposium on Friday for clues on the timing of a tapering of monetary stimulus. The…
Dollar near one-week low as Delta fears ease before Jackson Hole
By Kevin Buckland TOKYO (Reuters) – The safe-haven dollar traded near a one-week low versus major peers on Wednesday as concerns eased that the highly contagious Delta coronavirus variant could derail a global economic recovery, lifting commodity-linked currencies like the Aussie. Risk appetite in global markets has strengthened since the U.S. Food and…
Dollar licking wounds, looking to Jackson Hole
By Tom Westbrook SINGAPORE (Reuters) – The dollar was smarting on Tuesday following its sharpest one-day fall since May, though traders were wary of chasing the mood-driven move lower ahead of a Federal Reserve symposium that could map out an end to stimulus and asset purchases. The greenback dropped more than 1% against…
Dollar hits highest in over 9 months as risk aversion slams Aussie, Canada’s loonie
By Kevin Buckland TOKYO (Reuters) – The safe-haven U.S. dollar marked a fresh 9-1/2-month high against major peers on Friday, buoyed by fears that the Delta coronavirus variant could delay the global economic recovery. The greenback was also boosted by expectations the Federal Reserve could still start to taper stimulus this year, even…
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