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What is keeping the US Dollar supported as front-end rates and ISM expectations point higher?
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.
US Dollar: Near-term stabilization view â BBH
Brown Brothers Harrimanâs (BBH) Elias Haddad notes the US Dollar (USD) is softer mainly against the Japanese Yen and Swiss Franc, with Brent Oil nearing $100.
Breaking: US ISM Services PMI improves to 55.4 in August
Fresh data from the Institute for Supply Management (ISM) showed the Services PMI improving to 55.4 in August from 54.1 in the previous month, coming in above prior estimates at 54.3 and signalling further pickup of momentum in the sector.
Dow Jones futures gain as oil prices, US yields ease
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.
US Dollar: Hedging impulse fades as holdings stabilize â BNY
BNYâs 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.
US Dollar: Upside risks persist â ING
ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note that a sharp USD/JPY move briefly weighed on the Dollar, but only Australian Dollar and Canadian Dollar held gains.
Indian Rupee rallies on strong foreign inflows through FCNR deposits
The Indian Rupee (INR) trades strongly against the US Dollar (USD) on Thursday, extending the rally to near 94.28.
United States Dollar Index weakens below 99.50 as yields ease
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.
US President Trump says Iran campaign âwonât lastâ, warns of more strikes
US President Donald Trump said on Wednesday that the renewed campaign against Iran âwonât continue for too long," adding that he is prepared to launch another attack on Iran.
Forex Today: Weekly claims and ISM Services keep the focus on the real economy
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.
Dow Jones Industrial Average borrows its rebound from the bond market
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.
United States Dollar Index loses ground on possible Yen intervention
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.
US Dollar: Fed hike risk and yields back in focus â MUFG
According to MUFGâs 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.