Currency futures were mixed on Friday amid varied economic reports. At the same time, the dollar ended its recent winning streak. Still, it was a bullish week for the dollar because Fed rate cut bets went down with more positive data and hawkish remarks from Fed officials. US consumer sentiment (Source: University of Michigan) The Read More…
On Friday, currency futures fell despite a drop in US producer prices in December, increasing the likelihood of an early US rate cut. At the same time, the dollar fell after rising during the day due to safety buying following US and British military actions in Yemen. US producer prices (Source: Bureau of Labor Statistics) Read More…
On Friday, currency futures dropped as the dollar remained stable following mixed data from the world’s largest economy. Moreover, the dollar gained nearly 1.1% for the week, marking its best weekly rise since mid-July. The euro weakened slightly against the dollar. This decline ended a three-week streak of increases. Meanwhile, the pound weakened slightly after Read More…
On Friday, currency futures pulled back from recent highs as Federal Reserve Bank of New York President John Williams opposed market expectations for a rate cut. At the same time, the dollar strengthened. However, it still had its worst weekly performance in a month. Dollar risk reversal (Source: Bloomberg) The dollar’s decline last week followed Read More…
On Friday, the US dollar strengthened as new data revealed increased US job growth, pushing currency futures down. Moreover, there was a drop in the unemployment rate for November, indicating robustness in the labor market. US employment change (Source: Bureau of Labor Statistics) The Labor Department’s Bureau of Labor Statistics reported an addition of 199,000 Read More…
On Friday, currency futures rose while the dollar declined after Federal Reserve Chair Jerome Powell expressed caution about further interest rate moves. Investors perceived Powell’s comments as dovish, anticipating that the Fed is done raising rates. Powell acknowledged that US monetary policy is slowing the economy, with the benchmark overnight interest rate in restrictive territory. Read More…
