The US dollar weakens ahead of the Fed's decision

NEW YORK, Oct. 30 (Xinhua) -- The U.S. dollar slipped in late trade Monday, as markets virtually priced in a pause in the Federal Reserve's meeting on Wednesday.

The dollar index, which measures the greenback against six major peers, fell 0.30 percent to 106.2369 in late trade.

The Dallas Fed's manufacturing index fell from -18.1 in September to -19.2 in October, the Federal Reserve Bank of Dallas revealed on Monday. The production index fell from 7.9 in September to 5.2 in October, while the capacity utilization index fell from 7.8 to 5.4. The new orders index fell from -5.2 to -8.8.

U.S. Treasury yields moved to session highs following the release of the report.

With nothing major to offer on the economic calendar on Monday, investors' focus shifted to the highlights for the rest of the week, including the Bank of England and Federal Reserve interest rate decisions, neither of which is expected to raise rates. Investors will be closely watching Fed Chairman Jerome Powell's stance and outlook to continue betting on the Fed's next decision.

Ahead of the Fed's decision on Wednesday, the odds of a 25 basis point hike in December remain low, around 20 percent, according to the CME Group FedWatch Tool.

In late New York trading, the euro rose to US$1.0619 from US$1.0568 in the previous session, and the British pound rose to US$1.2163 from US$1.2114.

Nikkei Asia reported on Monday that the Bank of Japan (BOJ) will adjust its yield curve steering framework to allow the yield on the 10-year Japanese government bond to rise above 1 percent. The BOJ will also announce its board members' median inflation and growth forecasts on Tuesday.

The US dollar bought 148.9850 Japanese yen, down from 149.5070 Japanese yen from the previous session. The US dollar was up to 0.9016 Swiss francs from 0.9015 Swiss francs, and it was down to 1.3817 Canadian dollars from 1.3877 Canadian dollars. The US dollar fell to SEK 11.1311 from SEK 11.1569.


https://nord.news/2023/10/30/the-us-dollar-weakens-ahead-of-the-feds-decision/?feed_id=52254

Comments

Post a Comment

Popular posts from this blog

Where will Reykjavík go in 250 million years?

Image
250 million years ago, all the continents on Earth were combined into one supercontinent called Pangea. It existed for about 100 million years, until the movement of tectonic plates finally began to break it apart. Tens of millions more years passed before Pangea finally split into two smaller continents, Laura and Gondwanaland, which broke up into continents long after, […] The article Where Reykjavík will go in 250 million years comes from ICELAND NEWS. https://nord.news/2023/01/31/where-will-reykjavik-go-in-250-million-years/?feed_id=8192
Read more

Long covid linked to air pollution exposure in young adults - new study

Image
Although covid-19 infections are usually less severe in young adults, this does not mean that they are not still at risk of complications from covid-19. For example around one in 25 adults over 16 have reported suffering from prolonged covid-19 symptoms after their first infection. For some, these symptoms lasted almost two years. While we are getting closer to understanding some of the genetic and immunological mechanisms that causes long-term covid, there's still a lot we don't know about the condition — including why people with otherwise mild covid-19 infections go on to develop long-term covid. We also know some of the risk factors that make people more likely to develop long-term covid - including suffering from chronic diseases and have one unhealthy lifestyle . And our latest study has now revealed that, at least for young adults aged 26-28, where they live can increase the risk of long-term covid. While most people recover from a covid-19 infection after a fe...
Read more

Study: The right time for physical activity increases fat metabolism

Image
Solna [Sweden]February 18 (ANI): According to a recent study from Sweden's Karolinska Institute and Denmark's University of Copenhagen, mice that exercised during an early active phase, which is comparable to morning exercise in humans, had higher metabolic rates than mice that exercised during a time when they usually rested. The results of the study were published in the journal PNAS. Physical activity at different times of the day can affect the body in different ways because the biological processes depend on the circadian rhythm of the cells. To determine how the time of day when the exercise is done affects fat burning, researchers at the Karolinska Institutet and the University of Copenhagen studied the adipose tissue of mice after a session of high-intensity exercise performed at two points in the daily cycle. an early active phase and early resting phase (equivalent to late morning and late evening sessions in humans). The researchers studied various markers for ...
Read more