On Friday, currency futures rose as the US dollar dropped due to decreased consumer sentiment data. However, the dollar still recorded a ninth consecutive week of gains. Meanwhile, the yen reached a 10-month low. US consumer sentiment (Source: University of Michigan, Bloomberg) The University of Michigan’s Consumer Sentiment Index preliminary reading for this month was Read More…
Currency futures ended lower last week as the dollar index continued its winning streak for an eighth consecutive week. Bloomberg dollar index (Source: Bloomberg) This streak, the longest since 2014, came after recent data indicated the resilience of the US economy. The DXY remained almost unchanged at 105.08 for the day. Strong US economic data Read More…
Currency futures fell on Friday after the US jobs report. The dollar rose against the euro and Japanese yen due to a robust August jobs report, despite some concerning signs. US payrolls (Source: Bureau of Labor Statistics) In August, employers added 187,000 jobs, beating the expected 170,000 increase. However, July’s data was revised downward to Read More…
The dollar held firm on Friday after Powell’s speech, putting pressure on currency futures. The Federal Reserve Chair Jerome Powell said the central bank may need to hike interest rates further to ensure inflation drops but promised to proceed “carefully” at upcoming meetings. In a speech at a summit on the economy in Jackson Hole, Read More…
Currency futures ended mixed on Friday while the dollar closed a fifth week of gains, marking its longest winning streak in 15 months. The gains were driven by a growing demand for safer assets due to concerns about China’s economy and expectations of sustained high US interest rates. China’s economic difficulties intensified as the property Read More…
On Friday, currency futures dipped as the dollar rose after the US reported higher US producer prices in July. This was despite growing speculation that the Fed might finally stop raising interest rates. The Producer Price Index (PPI) went up due to a rise in service costs, causing unease among traders. The surge in the Read More…
