Dollar slips as weak data boosts US rate cut bets

The dollar edged away from two-year highs on Friday after weak U.S. manufacturing activity data sparked worries that the trade conflict with China may hurt the world’s largest economy and affect the currency’s safe-haven status. The fall followed overnight data showing manufacturing activity hit its lowest level in almost a decade in May, suggesting a sharp slowdown in U.S. economic growth was under way. Escalating trade tensions and weak data have fuelled rate cut expectations from the Fed. Mon


The dollar edged away from two-year highs on Friday after weak U.S. manufacturing activity data sparked worries that the trade conflict with China may hurt the world’s largest economy and affect the currency’s safe-haven status. The fall followed overnight data showing manufacturing activity hit its lowest level in almost a decade in May, suggesting a sharp slowdown in U.S. economic growth was under way. Escalating trade tensions and weak data have fuelled rate cut expectations from the Fed. Mon
Dollar slips as weak data boosts US rate cut bets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24
Keywords: news, cnbc, companies, slips, rate, twoyear, overnight, cut, yen, trade, dollar, hit, weak, data, boosts, bets, euro


Dollar slips as weak data boosts US rate cut bets

The dollar edged away from two-year highs on Friday after weak U.S. manufacturing activity data sparked worries that the trade conflict with China may hurt the world’s largest economy and affect the currency’s safe-haven status.

Against a basket of six major currencies, the dollar was down 0.2% at 97.686 in early European trade and 0.7% off a two-year high of 98.371 hit the previous session.

The fall followed overnight data showing manufacturing activity hit its lowest level in almost a decade in May, suggesting a sharp slowdown in U.S. economic growth was under way.

Up to now, the bulk of the pain from the trade war has been felt in Asia, with economies from Singapore to Thailand all posting poor numbers.

“Lot of people for good reasons thought trade wars may be U.S. dollar-positive and other countries cannot retaliate,” said Commerzbank FX strategist Ulrich Leuchtmann.

“But in reality, it’s more difficult. This very disappointing PMI data and other factors like the Huawei story are all creating stress for the U.S. economy and derailing sentiment.”

President Donald Trump said on Thursday that U.S. complaints against Huawei Technologies Co Ltd might be resolved within the framework of a U.S.-China trade deal, while at the same time calling the Chinese telecommunications giant “very dangerous”.

Escalating trade tensions and weak data have fuelled rate cut expectations from the Fed. Money markets broadly expect one rate cut by October followed by another by January 2020.

The dollar weakness helped sterling recover slightly from a 4-1/2 month low while the euro briefly inched above $1.12 to hit a one-week high.

Against the yen, the dollar edged down to 109.50 yen, extending losses overnight, when it gave up two-thirds of a percent, its steepest drop in a single session in two months.

The euro might have also been helped by the Dutch part of the EU parliamentary elections, in which an exit poll showed the Labour party of European Commissioner Frans Timmermans won a surprise victory over a Eurosceptic challenger who had been topping opinion surveys.

The euro has been pinned lower in recent weeks by the prospect of Eurosceptic parties across the continent performing well in the elections.


Company: cnbc, Activity: cnbc, Date: 2019-05-24
Keywords: news, cnbc, companies, slips, rate, twoyear, overnight, cut, yen, trade, dollar, hit, weak, data, boosts, bets, euro


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Gold slips to over two-week low as stronger dollar, stocks weigh

Spot gold slipped 0.4% to $1,272.55 per ounce, having touched its lowest since May 3 at $1,268.97 earlier in the session. “One big reason is that the U.S. dollar remains pretty strong. “Also, we have little bit of risk appetite on the stock futures, so less of a reason to go into gold as a hedge,” he added. Gold is usually used as a safe store of value during times of uncertainty, however, investors are preferring the dollar as they did last year during the U.S.-China trade spat. Meanwhile, equi


Spot gold slipped 0.4% to $1,272.55 per ounce, having touched its lowest since May 3 at $1,268.97 earlier in the session. “One big reason is that the U.S. dollar remains pretty strong. “Also, we have little bit of risk appetite on the stock futures, so less of a reason to go into gold as a hedge,” he added. Gold is usually used as a safe store of value during times of uncertainty, however, investors are preferring the dollar as they did last year during the U.S.-China trade spat. Meanwhile, equi
Gold slips to over two-week low as stronger dollar, stocks weigh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21
Keywords: news, cnbc, companies, stronger, low, dollar, investors, appetite, recent, stocks, twoweek, trade, uschina, gold, policy, pointing, slips, reason, weigh


Gold slips to over two-week low as stronger dollar, stocks weigh

Gold prices dropped to a more than two-week low on Tuesday, as investors opted for the dollar and improved appetite for riskier assets dented the appeal of bullion, while markets awaited the release of minutes from the U.S. Federal Reserve.

Spot gold slipped 0.4% to $1,272.55 per ounce, having touched its lowest since May 3 at $1,268.97 earlier in the session.

U.S. gold futures settled $4.10 lower at $1,273.20.

“One big reason is that the U.S. dollar remains pretty strong. What we are seeing, in a strange way, money is flowing towards the dollar as a safe-haven,” said Bart Melek, head of commodity strategies at TD Securities in Toronto.

“Also, we have little bit of risk appetite on the stock futures, so less of a reason to go into gold as a hedge,” he added.

The dollar index climbed to its highest in nearly a month, supported by higher U.S. yields and as fears of the economic fallout from the U.S.-China trade row prompted investors to choose the safety of the U.S. unit over bullion.

Gold is usually used as a safe store of value during times of uncertainty, however, investors are preferring the dollar as they did last year during the U.S.-China trade spat.

Meanwhile, equity markets around the world gained momentum after the United States temporarily relaxed curbs on China’s Huawei Technologies, easing concerns over a further escalation in the U.S.-China trade war.

Investors now await Fed minutes due on Wednesday, which is expected to provide insights into the May 1 central bank meeting in which policymakers decided to keep interest rates steady and signaled little appetite to adjust them any time soon.

“Not much is expected to happen on the policy side. I think they might talk about potential downside risks from trade tensions but does not expect any significant and credible statements pointing to a rate cut this year,” Melek said.

On Monday, Fed Chair Jerome Powell said that it was premature to ascertain the impact of trade and tariffs on the trajectory of monetary policy, instead pointing recent economic data pointed towards a healthy supply side.

“From a technical point of view, a first positive signal (for gold) would be a recovery to $1,290, while a fall below the recent low of $1,266 could open space for a further decline,” said ActivTrades analyst Carlo Alberto De Casa.

Among other precious metals, silver eased 0.1% to $14.44 an ounce.

Platinum rose 0.3% to $813.90 an ounce and palladium was mostly unchanged at $1,328.70.


Company: cnbc, Activity: cnbc, Date: 2019-05-21
Keywords: news, cnbc, companies, stronger, low, dollar, investors, appetite, recent, stocks, twoweek, trade, uschina, gold, policy, pointing, slips, reason, weigh


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Gold slips from 1-month peak on Sino-US trade talk hopes

Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Gold prices steadied on Wednesday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar. Simultaneously, Asian stocks also turned cautiously optimistic surrounding trade developments between the two countries on Wednesday, while still not completely discounting the possibili


Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Gold prices steadied on Wednesday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar. Simultaneously, Asian stocks also turned cautiously optimistic surrounding trade developments between the two countries on Wednesday, while still not completely discounting the possibili
Gold slips from 1-month peak on Sino-US trade talk hopes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15
Keywords: news, cnbc, companies, remain, fung, ounce, dollar, prices, surrounding, trade, tariffs, sinous, gold, slips, 1month, talk, talks, peak, hopes


Gold slips from 1-month peak on Sino-US trade talk hopes

Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria.

Gold prices steadied on Wednesday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar.

Spot gold was steady at $1,296.49 an ounce by 0808 GMT.

U.S. gold futures edged 0.1% higher to $1,297.20 an ounce.

“Gold is restrained as people are still interested in the dollar. The $1,300 level also looks like a good resistance,” said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong.

The dollar held firm in early Asian trading, having been supported on Tuesday by U.S. President Donald Trump downplaying the recent escalation in his trade war with China as “a little squabble” and insisting that talks between the two countries had not collapsed.

A stronger dollar makes gold more expensive for holders of non-U.S. currency.

Simultaneously, Asian stocks also turned cautiously optimistic surrounding trade developments between the two countries on Wednesday, while still not completely discounting the possibilities of a protracted spat.

“The (gold) market is holding because some people bought gold especially after the Chinese government also raised tariffs on U.S. goods,” Fung said, adding that the metal is expected to remain range-bound between $1,280 and $1,310 an ounce.

The biggest trigger for gold, which had been mostly range-bound for the past week, came on Monday after China announced that it would impose retaliatory tariffs on a range of U.S. goods.

There was some profit-taking in the previous session after prices jumped about $20 on Monday and above the key $1,300 level, analysts and traders said.

“The ongoing Sino-U.S. trade dispute has illustrated cooling conditions as both parties expressed willingness to resolve existing trade differences,” Phillip Futures analysts wrote in a note.

“Gold prices though easing up on bullish gains will remain supported as investors remain cautious on lingering U.S.-China trade worries in the near term.”

Market participants now keenly eye economic data from Europe that will provide further cues on the strength of the global economy.

Among other precious metals, silver rose 0.2% to $14.81 an ounce, while platinum fell 0.2% to $853.75.

Palladium fell 0.7% to $1,326.25 an ounce.


Company: cnbc, Activity: cnbc, Date: 2019-05-15
Keywords: news, cnbc, companies, remain, fung, ounce, dollar, prices, surrounding, trade, tariffs, sinous, gold, slips, 1month, talk, talks, peak, hopes


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Oil slips 31 cents, settling at $63.60, as US crude stocks climb to highest since Sept 2017

Crude futures bounced slightly along with the stock market after the Federal Reserve left interest rates unchanged, citing a lack of inflation pressure, but struggled to hold gains. U.S. crude futures settled 31 cents lower at $63.60 per barrel. Brent crude oil futures were down 2 cents at $72.04 per barrel around 2:10 p.m. “There have been wild cards aplenty for the oil markets. Oil markets have already tightened this year due to supply cuts led by OPEC as well as the sanctions on Venezuela and


Crude futures bounced slightly along with the stock market after the Federal Reserve left interest rates unchanged, citing a lack of inflation pressure, but struggled to hold gains. U.S. crude futures settled 31 cents lower at $63.60 per barrel. Brent crude oil futures were down 2 cents at $72.04 per barrel around 2:10 p.m. “There have been wild cards aplenty for the oil markets. Oil markets have already tightened this year due to supply cuts led by OPEC as well as the sanctions on Venezuela and
Oil slips 31 cents, settling at $63.60, as US crude stocks climb to highest since Sept 2017 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01
Keywords: news, cnbc, companies, supply, venezuela, sept, markets, settling, 6360, slips, futures, stocks, far, million, inventories, climb, imports, oil, crude, highest, cents


Oil slips 31 cents, settling at $63.60, as US crude stocks climb to highest since Sept 2017

Oil operations in the Permian Basin near Midland, Texas Nick Oxford | Reuters

Oil prices fell on Wednesday after U.S. crude inventories in the United States soared more than expected to their highest since September 2017 as production hit a record high. The declines were somewhat tempered by the intensifying crisis in Venezuela and Washington’s stopping Iranian oil sanction waivers as of May 1, with the fall in the global Brent benchmark more muted. Crude futures bounced slightly along with the stock market after the Federal Reserve left interest rates unchanged, citing a lack of inflation pressure, but struggled to hold gains.

U.S. crude futures settled 31 cents lower at $63.60 per barrel. Brent crude oil futures were down 2 cents at $72.04 per barrel around 2:10 p.m. ET (1810 GMT). U.S. crude inventories climbed last week 9.9 million barrels to 470.6 million barrels as imports grew to their highest since January and refining rates dropped below 90 percent of total capacity, the Energy Information Administration said. The build far outstripped analysts’ expectations of an increase of just 1.5 million barrels. “A drop in refining activity and a rise in imports has helped propel crude inventories to another large build,” said Matt Smith, director of commodity research at ClipperData. “The vast majority of the build was on the U.S. Gulf Coast – with refinery runs ticking lower and waterborne imports on the rise.” Markets also watched for developments in Venezuela, where opposition leader Juan Guaido called for a May 1 uprising against President Nicolas Maduro. Many observers feared the rallying cry could lead to escalating violence and further disruptions to crude supply, though the OPEC-member nation’s oil-producing regions are far afield of the capital of Caracas. The unrest adds to a range of fluid geopolitical factors which have roiled the oil market in recent months. Oil prices have risen over 30% so far this year, and in April, Brent increased about 6.5% and WTI rose 6.3%, their fourth consecutive month of gains. “There have been wild cards aplenty for the oil markets. The seemingly perennial U.S.-China trade spat, the extent of Venezuela’s supply woes and the Iran factor are just some,” PVM Oil Associates strategist Stephen Brennock said. Oil markets have already tightened this year due to supply cuts led by OPEC as well as the sanctions on Venezuela and Iran. Washington is set to revoke waivers for select countries to import Iranian oil on Wednesday and says it aims to drive down Iran’s crude exports to zero.


Company: cnbc, Activity: cnbc, Date: 2019-05-01
Keywords: news, cnbc, companies, supply, venezuela, sept, markets, settling, 6360, slips, futures, stocks, far, million, inventories, climb, imports, oil, crude, highest, cents


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

IBM stock slips after revenue shortfall

Previously, IBM had a streak of 22 consecutive quarters of annualized revenue declines that ended in 2017. IBM’s Global Technology Services segment, the biggest segment in the new reporting structure, produced revenue of $6.88 billion, down 7 percent year over year. IBM also reported $417 million in “other” revenue, a way to report revenue from the businesses that IBM is divesting. In 2018 half of IBM revenue came from its strategic imperatives. IBM did say its annual exit revenue run rate for c


Previously, IBM had a streak of 22 consecutive quarters of annualized revenue declines that ended in 2017. IBM’s Global Technology Services segment, the biggest segment in the new reporting structure, produced revenue of $6.88 billion, down 7 percent year over year. IBM also reported $417 million in “other” revenue, a way to report revenue from the businesses that IBM is divesting. In 2018 half of IBM revenue came from its strategic imperatives. IBM did say its annual exit revenue run rate for c
IBM stock slips after revenue shortfall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: jordan novet, janhvi bhojwani
Keywords: news, cnbc, companies, share, shortfall, ibm, slips, analysts, stock, cloud, technology, services, billion, segment, revenue, quarter


IBM stock slips after revenue shortfall

Shares of IBM fell as much as 4 percent on Tuesday after the company said it generated less revenue than analysts had expected in the first quarter.

Here are the major numbers:

Earnings: $2.25 per share, excluding certain items, vs. $2.22 per share as expected by analysts, according to Refinitiv.

$2.25 per share, excluding certain items, vs. $2.22 per share as expected by analysts, according to Refinitiv. Revenue: $18.18 billion, vs. $18.46 billion as expected by analysts, according to Refinitiv.

IBM’s revenue was down almost 5% from the year-ago quarter, according to a statement. This marks the third consecutive quarter of declining revenue year over year. Previously, IBM had a streak of 22 consecutive quarters of annualized revenue declines that ended in 2017.

IBM reiterated its guidance of at least $13.90 in earnings per share, excluding certain items, for all of 2019. Analysts had been looking for $13.91 in earnings per share, excluding certain items, for the full year, according to Refinitiv.

In the first quarter IBM said it had sold its mortgage-servicing business to Mr. Cooper Group, and it said that later that this year it would wind down its business of providing working capital to certain kinds of information-technology companies.

IBM has changed its reporting structure for the first-quarter earnings report. The company no longer has a Technology Services & Cloud Platforms segment. Now it has Cloud & Cognitive Software and Global Technology Services business segments. The company’s consolidated results are unchanged.

IBM’s Global Technology Services segment, the biggest segment in the new reporting structure, produced revenue of $6.88 billion, down 7 percent year over year. It includes infrastructure and cloud services, along with technology support services.

The Cloud & Cognitive Software segment — which contains cognitive applications, cloud and data platforms and transaction processing platforms — came out to $5.04 billion in revenue, down 1.5 percent.

The Global Business Services business segment had $4.12 billion in revenue, which was basically flat. Systems revenue was $1.33 billion, down 11 percent.

The company said that Systems growth was “offset by the impact of the IBM Z product cycle dynamics.” In the first quarter of 2018, IBM reported revenue growth in part thanks to companies upgrading to new mainframe technology, and Tuesday’s results don’t compare as well to that. Revenue from Z hardware, one portion of Systems, was down 38 percent.

Global Financing, at $406 billion, was roughly flat. IBM also reported $417 million in “other” revenue, a way to report revenue from the businesses that IBM is divesting.

IBM did not disclose how much of its total revenue from the quarter comes from strategic imperatives, which are areas the company has looked to for growth: analytics, cloud, mobile and security. In 2018 half of IBM revenue came from its strategic imperatives. IBM did say its annual exit revenue run rate for cloud delivered as a service was $11.7 billion, up 10 percent.

IBM’s acquisition of Red Hat for $34 billion is expected to close in the second half of this year. “IBM is winning new, even cloud-native, customers before RHT,” Nomura Instinet analysts led by Jeffrey Kvaal wrote in a note distributed to clients on April 9. “OpenShift [a Red Hat product] should help IBM win new customers and new workloads as enterprises begin to usher mission-critical applications from on-premise to public or private clouds.”

IBM stock is up almost 28 percent since the beginning of 2019.

Executives will discuss the results with analysts at 5 p.m. Eastern time.

This is breaking news. Please check back for updates.

WATCH: IBM Ceo Ginni Rometty: Hybrid cloud is a trillion-dollar market, and we’ll be number one


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: jordan novet, janhvi bhojwani
Keywords: news, cnbc, companies, share, shortfall, ibm, slips, analysts, stock, cloud, technology, services, billion, segment, revenue, quarter


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

BP CEO Dudley’s 2018 pay slips to $14.7 million

BP Chief Executive Bob Dudley’s pay package slipped to $14.7 million last year from $15.1 million in 2017, even though the oil and gas company’s profits doubled to a five-year high. The 63-year old, who took the helm shortly after the 2010 deadly Deepwater Horizon spill in the Gulf of Mexico, has overseen a large expansion in the company’s production in recent years. Dudley’s wages and those of other executives in the sector have nevertheless come under growing scrutiny from investors, particula


BP Chief Executive Bob Dudley’s pay package slipped to $14.7 million last year from $15.1 million in 2017, even though the oil and gas company’s profits doubled to a five-year high. The 63-year old, who took the helm shortly after the 2010 deadly Deepwater Horizon spill in the Gulf of Mexico, has overseen a large expansion in the company’s production in recent years. Dudley’s wages and those of other executives in the sector have nevertheless come under growing scrutiny from investors, particula
BP CEO Dudley’s 2018 pay slips to $14.7 million Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: giulio napolitano, bloomberg, getty images
Keywords: news, cnbc, companies, oil, annual, 2017, 151, 2018, ceo, slips, package, 147, bps, dudleys, pay, yearsdudleys, million, bp, companys


BP CEO Dudley's 2018 pay slips to $14.7 million

BP Chief Executive Bob Dudley’s pay package slipped to $14.7 million last year from $15.1 million in 2017, even though the oil and gas company’s profits doubled to a five-year high.

The 63-year old, who took the helm shortly after the 2010 deadly Deepwater Horizon spill in the Gulf of Mexico, has overseen a large expansion in the company’s production in recent years.

Dudley’s wages and those of other executives in the sector have nevertheless come under growing scrutiny from investors, particularly following the 2014 collapse in oil prices.

His 2017 remuneration was revised up to $15.1 million from the previously reported $13.4 million due to changes in the value of BP’s shares over the period.

The drop in the 2018 package was the result of a reduced annual bonus and pension, which was partly offset by a rise in BP’s share price, the company said in its 2018 annual report.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: giulio napolitano, bloomberg, getty images
Keywords: news, cnbc, companies, oil, annual, 2017, 151, 2018, ceo, slips, package, 147, bps, dudleys, pay, yearsdudleys, million, bp, companys


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US oil output slips in January, hits monthly record in December, new data show

U.S. oil production slipped in January, but fresh data from the Department of Energy show the nation’s output was much higher than originally reported at the end of last year. That was down from 11.961 million bpd in December, a new monthly record. November output was also revised higher, from 11.905 million bpd to 11.926 million bpd. The latest weekly figures show U.S. production holding steady around 12.1 million bpd — an all-time high if confirmed by EIA’s monthly reading. Production from Tex


U.S. oil production slipped in January, but fresh data from the Department of Energy show the nation’s output was much higher than originally reported at the end of last year. That was down from 11.961 million bpd in December, a new monthly record. November output was also revised higher, from 11.905 million bpd to 11.926 million bpd. The latest weekly figures show U.S. production holding steady around 12.1 million bpd — an all-time high if confirmed by EIA’s monthly reading. Production from Tex
US oil output slips in January, hits monthly record in December, new data show Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: tom dichristopher, john w schoen, nick oxford
Keywords: news, cnbc, companies, reading, slips, record, data, oil, million, bpd, hits, roughly, production, energy, texas, reported, output, monthly


US oil output slips in January, hits monthly record in December, new data show

U.S. oil production slipped in January, but fresh data from the Department of Energy show the nation’s output was much higher than originally reported at the end of last year.

American energy companies pumped 11.871 million barrels per day in January, according to the Energy Information Administration, the department’s statistics bureau. That was down from 11.961 million bpd in December, a new monthly record.

Last month, EIA reported that December’s production averaged 11.849 million bpd — a difference of 112,000 bpd from its second reading released on Friday. November output was also revised higher, from 11.905 million bpd to 11.926 million bpd.

EIA’s first reading for January was roughly in line with preliminary figures, which the administration releases weekly.

The latest weekly figures show U.S. production holding steady around 12.1 million bpd — an all-time high if confirmed by EIA’s monthly reading.

Bottlenecks in the biggest U.S. shale oil field, the Permian basin, are expected to keep a lid on growth through the first half of the year. There are not enough pipelines and other infrastructure in western Texas and southeastern New Mexico to accommodate the surge in crude oil from Permian fields.

Production from Texas dipped 1.3 percent in January to 4.832 million bpd, the EIA data show. New Mexico’s output was roughly flat at 815,000 bpd.

Compared with January 2018, production was up 24 percent in Texas and 50 percent in New Mexico.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: tom dichristopher, john w schoen, nick oxford
Keywords: news, cnbc, companies, reading, slips, record, data, oil, million, bpd, hits, roughly, production, energy, texas, reported, output, monthly


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dollar slips on US-China trade hopes, Swedish crown sags

“We are hoping to hear more positive news on trade,” said Dean Popplewell, chief currency strategist at Oanda in Toronto. The ICE index, which tracks the dollar against six other major currencies, was down 0.47 percent at 96.45. Among other major currencies, the Swedish crown tumbled after weak inflation data spurred sales of the currency and a paring of bets that interest rates would rise this year. The currency plunged more than 1 percent to a two-year low against the dollar at 9.4180, after a


“We are hoping to hear more positive news on trade,” said Dean Popplewell, chief currency strategist at Oanda in Toronto. The ICE index, which tracks the dollar against six other major currencies, was down 0.47 percent at 96.45. Among other major currencies, the Swedish crown tumbled after weak inflation data spurred sales of the currency and a paring of bets that interest rates would rise this year. The currency plunged more than 1 percent to a two-year low against the dollar at 9.4180, after a
Dollar slips on US-China trade hopes, Swedish crown sags Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: matt cardy i getty images
Keywords: news, cnbc, companies, sags, swedish, uschina, hopes, crown, euro, data, showed, currencies, inflation, slips, currency, fell, major, dollar, trade


Dollar slips on US-China trade hopes, Swedish crown sags

The dollar on Tuesday fell against a basket of other currencies as traders scaled back their safe-haven greenback holdings on optimism that a fresh round of talks between China and the United States would help resolve their trade conflict.

The dollar index hit a near two-month peak on Friday after last week’s set of negotiations in Beijing failed to result in a deal, although officials from both sides said the talks had produced progress on contentious issues.

“We are hoping to hear more positive news on trade,” said Dean Popplewell, chief currency strategist at Oanda in Toronto. “The dollar should come under pressure as it loses some safe-haven appeal.”

The ICE index, which tracks the dollar against six other major currencies, was down 0.47 percent at 96.45.

On Friday, it hit 97.368, which was the highest since Dec. 17. U.S. financial markets were closed on Monday for the Presidents Day holiday.

Among other major currencies, the Swedish crown tumbled after weak inflation data spurred sales of the currency and a paring of bets that interest rates would rise this year.

Last week, the crown rose after Sweden’s central bank broke with growing caution among major monetary-policy makers, saying it would stick to its plan to raise rates in the second half of 2019.

The currency plunged more than 1 percent to a two-year low against the dollar at 9.4180, after a report showed inflation slowed in January.

Against the euro, it was headed for its biggest daily decline in more than 15 months. It touched 10.621, its weakest since September.

The euro appreciated against the dollar on trade optimism. It reversed earlier losses after data showed Italian industrial orders dropped 5.3 percent in December from a year earlier.

Euro zone bond yields, notably those of German bunds, fell amid the cloudy European economic outlook, weighing on the euro. When European Central Bank policymakers meet on March 7, they are expected to lower growth and inflation projections.

The euro was up 0.37 percent at $1.135, holding above a three-month low of $1.1234 set last week.

The single currency, however, fell against the British pound as data showed domestic workers’ salaries held at its fastest pace in a decade in late 2018.

The euro was 0.62 percent lower at 86.99 pence, while the pound was up 1.08 percent at $1.306. The sterling’s gains were limited ahead of British Prime Minister’s Theresa May’s meeting with the EU to find a way to get their Brexit deal through the UK parliament.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: matt cardy i getty images
Keywords: news, cnbc, companies, sags, swedish, uschina, hopes, crown, euro, data, showed, currencies, inflation, slips, currency, fell, major, dollar, trade


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dollar hampered by global growth, trade war worries; Aussie slips

The dollar was hamstrung versus its rivals on Thursday, restrained by concerns over global growth, the U.S. government shutdown and a yet-unresolved U.S.-Sino trade dispute. “Trade tensions are the most dominant factor for investor sentiment right now and will drive market flows,” said Nick Twidale, chief operating officer at Rakuten Securities. Twidale added that investor risk appetite will only improve once concerns over the partial U.S. government shutdown and trade tensions fade. Global grow


The dollar was hamstrung versus its rivals on Thursday, restrained by concerns over global growth, the U.S. government shutdown and a yet-unresolved U.S.-Sino trade dispute. “Trade tensions are the most dominant factor for investor sentiment right now and will drive market flows,” said Nick Twidale, chief operating officer at Rakuten Securities. Twidale added that investor risk appetite will only improve once concerns over the partial U.S. government shutdown and trade tensions fade. Global grow
Dollar hampered by global growth, trade war worries; Aussie slips Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: dan kitwood, getty images
Keywords: news, cnbc, companies, war, traders, trade, global, hampered, aussie, investor, worries, growth, versus, slips, dollar, tensions, policy, sterling


Dollar hampered by global growth, trade war worries; Aussie slips

The dollar was hamstrung versus its rivals on Thursday, restrained by concerns over global growth, the U.S. government shutdown and a yet-unresolved U.S.-Sino trade dispute.

“Trade tensions are the most dominant factor for investor sentiment right now and will drive market flows,” said Nick Twidale, chief operating officer at Rakuten Securities.

Twidale added that investor risk appetite will only improve once concerns over the partial U.S. government shutdown and trade tensions fade.

The Aussie dollar was a big mover in the Asian session, trading 0.22 percent lower at $0.7126 after National Australia Bank said it would raise mortgage rates by 12 to 16 basis points. Earlier, the Aussie was in positive terrain on the back of solid jobs data.

The partial U.S. government shutdown, now in its 34th day has hurt investor sentiment. U.S. Republican Senate Majority Leader Mitch McConnell said he planned to hold a vote on Thursday on a Democratic proposal that would fund the government for three weeks.

Global growth concerns have also rattled investor appetite for risk. On Monday, the International Monetary Fund (IMF) cut its 2019 and 2020 global growth forecasts, citing a bigger-than-expected slowdown in China and the eurozone, and said failure to resolve trade tensions could further destabilize a slowing global economy.

In Asian trading, the yen was marginally higher at 109.51, after weakening 0.2 percent versus the greenback in the previous session.

On Wednesday, the Bank of Japan kept its policy unchanged. The BOJ cut its inflation forecasts and warned of growing risks to the economy from trade protectionism and slowing global demand.

The dollar index, a gauge of its value versus six major peers, was steady at 96.06.

Markets are bearish on the outlook for the dollar this year. Traders in interest rate futures are wagering that the Federal Reserve will stand pat on rates in 2019 in the face of growth risks both at home and globally.

All eyes will be on the euro as investors await the European Central Bank’s monetary policy announcement later on Thursday where it is all but certain to keep policy unchanged.

The single currency was marginally higher at $1.1383. The euro has lost around 1.6 percent of its value over the last two weeks as traders expect the ECB to remain dovish and keep monetary policy accommodative for an extended period of time. Low inflation as well as weaker-than-expected economic activity in Germany and France, however, may lead ECB President Mario Draghi to point towards a potentially longer lasting slowdown.

“If the central bank lowers its growth or inflation forecasts and Draghi focuses on weaker growth, we could see EUR/USD fall to $1.12 easily,” said Kathy Lien, managing director of currency strategy at BK Asset Management.

Elsewhere, sterling traded marginally higher at $1.3075, hovering near highs last seen in mid-November in a sign traders expect Britain to avoid a chaotic exit from the European Union.

Since Prime Minister Theresa May’s divorce deal with the EU was rejected by lawmakers last week in the biggest defeat in modern British history, lawmakers have been trying to plot a course out of the crisis, yet no option has the majority support of parliament.

Some analysts expect limited upside for sterling. Philip Wee, currency strategist at DBS says that most of the gains in the pound are due to the unwinding of short positions. He sees sterling capped in the range of $1.3170-1.3240.


Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: dan kitwood, getty images
Keywords: news, cnbc, companies, war, traders, trade, global, hampered, aussie, investor, worries, growth, versus, slips, dollar, tensions, policy, sterling


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dollar slips on rate view, sterling firms before Brexit vote

Interest rate futures markets are pricing in no further U.S. rate hikes in 2019. The euro gained 0.1 percent on the greenback to $1.1485, while the Canadian dollar strengthened by 0.15 percent to C$1.3270. But other analysts expect the pound will take a major beating if May loses the vote by a wide margin. “Losing by 100 or more votes is a major defeat but there’s some talk that she could lose by 200 votes. Elsewhere, the Australian dollar and kiwi dollar, both considered proxies for global risk


Interest rate futures markets are pricing in no further U.S. rate hikes in 2019. The euro gained 0.1 percent on the greenback to $1.1485, while the Canadian dollar strengthened by 0.15 percent to C$1.3270. But other analysts expect the pound will take a major beating if May loses the vote by a wide margin. “Losing by 100 or more votes is a major defeat but there’s some talk that she could lose by 200 votes. Elsewhere, the Australian dollar and kiwi dollar, both considered proxies for global risk
Dollar slips on rate view, sterling firms before Brexit vote Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: kham
Keywords: news, cnbc, companies, brexit, slowdown, votes, sterling, slips, dollar, economy, firms, major, trade, monetary, global, vote, chinese, view, rate


Dollar slips on rate view, sterling firms before Brexit vote

The dollar weakened on Tuesday on heightened expectations the Federal Reserve will hold off on raising rates this year due to a slowdown in global growth, while sterling edged up ahead of Britain’s parliamentary vote on its Brexit plan.

Worries over the U.S. economy losing steam as well as a shock contraction in Chinese trade have fanned worries about a sharp global slowdown, which will likely keep the Fed from tightening monetary policy further this year.

The dollar index weakened by 0.12 percent to 95.48.

“There is a strong dislike for the dollar given Fed expectations, but at the same time there is not a compelling replacement,” said Sim Moh Siong, currency strategist at Bank of Singapore. “Over the next 6-12 months, the dollar should trend lower.”

Interest rate futures markets are pricing in no further U.S. rate hikes in 2019.

Fed Chairman Jerome Powell said last week the U.S. central bank has the ability to be patient on monetary policy given that inflation remains stable.

The euro gained 0.1 percent on the greenback to $1.1485, while the Canadian dollar strengthened by 0.15 percent to C$1.3270.

Sterling will be in focus as British Prime Minister Theresa May must win a vote in parliament later on Tuesday to get her Brexit deal approved or risk a chaotic exit for Britain from the European Union. The numbers are not in May’s favour and her chances of winning the vote look extremely slim. May needs to secure 318 votes to win.

Sterling gained 0.3 percent to $1.2901 ahead of the vote.

“Interestingly, speculators have been betting that this outcome could lead to a possible delay to Brexit from 29 March to July (after the EU Parliament elections in May) to allow for fresh elections or a second referendum,” Philip Wee, currency strategist at DBS, said in a note.

But other analysts expect the pound will take a major beating if May loses the vote by a wide margin.

“Losing by 100 or more votes is a major defeat but there’s some talk that she could lose by 200 votes. A major loss will lead to a knee jerk decline in GBP that could take GBP/USD below 1.25 and EUR/GBP above 91 cents,” said Kathy Lien, managing director of currency strategy at BK Asset Management in a note.

Elsewhere, the Australian dollar and kiwi dollar, both considered proxies for global risk appetite, were up 0.2 percent each, having recovered from Monday’s lows.

Sentiment was aided by a fresh round of commitments from Chinese policymakers to stimulate their economy though fiscal and monetary steps.

The Aussie was at $0.7213, while the kiwi dollar fetched $0.6833.

The Aussie dollar has stabilized above the $0.72 level and most analysts think it points to Chinese growth likely bottoming out in the next few quarters.

Given the sharp slowdown in economic activity and the negative impact of the U.S.-Sino trade dispute on the Chinese economy, analysts are hopeful that leaders of the two countries will reach a comprehensive trade deal in the coming weeks.

Trade tensions between the world’s two largest economies had rattled financial markets for most of last year.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: kham
Keywords: news, cnbc, companies, brexit, slowdown, votes, sterling, slips, dollar, economy, firms, major, trade, monetary, global, vote, chinese, view, rate


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post