In a pre-earnings season vacuum, oil prices and the dollar could drive stocks Tuesday. Oil surged more than 6 percent Monday, and helped boost the stock market as the S&P energy sector jumped 1.8 percent. The U.S. dollar index started out the day lower, and was a catalyst for the stock market’s gains, though it Read More
Author: Dollar Index
Asian stocks rose as crude oil maintained its surge and Samsung Electronics Co. reported better-than-estimated earnings. The dollar extended its rebound versus major peers, while Australia’s currency neared parity with its New Zealand counterpart before an interest-rate review. The MSCI Asia Pacific Index added 0.3 percent by 10:03 a.m. in Tokyo, rising a fourth day Read More
* Fed seen delaying rate hike after weak jobs data * U.S. dollar rises in a rebound * Oil climbs sharply but still well off recent peak (Updates to close of U.S. trading) By Ryan Vlastelica NEW YORK, April 6 (Reuters) – U.S. stocks rose on Monday after a weaker-than-expected jobs report drove expectations that Read More
Gold Prices on Downward Slide, but Where Are They Headed? (Part 2 of 13) (Continued from Part 1) The US dollar and gold Gold is traded mainly in US currency, so a weaker dollar makes gold less expensive for other nations to purchase. Also, when the dollar starts to lose value, investors look for a good alternative investment, such Read More
Despite Friday’s disappointing U.S. jobs numbers, the dollar will continue to rein supreme assuming the Federal Reserve looks on course to raise rates before year-end, analysts say. “We saw this last year, when U.S. first quarter gross domestic product (GDP) disappointed,” DBS senior currency strategist Philip Wee told CNBC. “So, we had corrections in the dollar and Read More
Despite Friday’s disappointing U.S. jobs numbers, the dollar will continue to rein supreme assuming the Federal Reserve looks on course to raise rates before year-end, analysts say. “We saw this last year, when U.S. first quarter gross domestic product (GDP) disappointed,” DBS (Singapore Exchange: DBSM-SG) senior currency strategist Philip Wee told CNBC. “So, we had Read More
But forward-looking forecasts for the U.S. economy are broadly upbeat: GDP growth is projected to accelerate from 2.2 percent in the fourth quarter to 2.4 percent the first-quarter and then 3 percent in the second and third quarters, according to the Thomson Reuters’ economist forecasts. “March’s job numbers were disappointing, but you Read More
By Lisa Twaronite TOKYO (Reuters) – Asian shares rose and the dollar steadied but remained under pressure on Monday, after a dismal U.S. jobs report led investors to pare bets the U.S. Federal Reserve would hike interest rates anytime soon. Major European markets were closed from Friday to Monday for the Easter holiday, reopening on Read More
DailyFX.com – To receive Ilya’s analysis directly via email, please SIGN UP HERE Talking Points: US Dollar Technical Strategy: Holding Long via Mirror Trader Basket ** Support: 11858, 11679, 11534 Resistance:12066, 12177, 12356 The Dow Jones FXCM US Dollar Index declined as expected after putting in a bearish Evening Star candlestick pattern. Near-term support is Read More
* Weekly U.S. jobless claims fall unexpectedly, labor market solid * U.S. trade deficit fell in February to lowest since Oct. 2009 * Friday’s U.S. nonfarm payrolls next key test for dollar * ECB says it will “remain firm” on implementing QE program (Recasts, adds fresh comment, updates prices, changes byline) By Gertrude Chavez-Dreyfuss NEW Read More