FOREX TradingCharts.com

Forex News: U.S. Dollar Higher On Fed Rate Hike Prospectus

U.S. Dollar Higher On Fed Rate Hike Prospectus

10/08/2018 - 09:39:00 (RTTNews)

(RTTNews) - The U.S. dollar firmed against its most major rivals in the European session on Monday, as the U.S. 10-year treasury yield remained near 7-year highs following a recent run of strong U.S. economic data that bolstered prospect of further rate hikes by the Federal Reserve.

Yields on U.S. 10-year treasury bonds hit a seven-year peak on Friday as recent data showed that the U.S. unemployment rate fell to its lowest since 1969.

The data cemented hopes for a fourth rate hike in December and additional three hikes in 2019.

Investors await reports on U.S. producer and consumer inflation due this week to help shape the pace of Fed tightening.

Economists forecast the CPI to rise 0.2 percent on a monthly basis in September, the same rate as seen in August.

The currency traded mixed against its major counterparts in the Asian session. While it rose against the pound and the euro, it held steady against the franc and the yen.

The greenback edged up to 0.9945 against the franc, from a 4-day low of 0.9907 seen at 3:00 am ET. On the upside, 1.01 is possibly seen as the next resistance for the greenback.

Data from the State Secretariat for Economic Affairs showed that Switzerland's unemployment rate dropped marginally in September.

The unemployment rate dropped to a seasonally adjusted 2.5 percent in September from 2.6 percent in August. The rate matched economists' expectations.

The greenback strengthened to 1.1460 against the euro, a level unseen since August 20. The greenback is seen finding resistance around the 1.13 mark.

Figures from Destatis showed that Germany's industrial production declined unexpectedly in August.

Industrial output slid 0.3 percent from July, confounding expectations for an increase of 0.5 percent. Production had decreased 1.3 percent in July.

Having dropped to an 11-day low of 1.3133 against the pound at 8:15 pm ET, the greenback reversed direction and appreciated to 1.3028. The next possible resistance for the greenback is seen around the 1.29 level.

Quarterly economic survey from British Chambers of Commerce showed that the UK economy is stuck in a rut due to Brexit uncertainties.

In the report, the BCC said there is little to be cheerful about as growth flatlines and business confidence weakens in the third quarter.

The greenback spiked up to a 10-day high of 1.3010 against the loonie and held steady thereafter. The greenback is poised to target resistance around the 1.32 level.

On the flip side, the greenback held steady against the yen, after having declined to an 11-day low of 113.25 at 4:45 am ET. The pair finished Friday's trading at 113.70.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Turkish Lira At 8-day Low Versus U.S. Dollar On Turkey Political Worries (01 hr(s), 48 min(s), 08 sec(s) ago)
(RTTNews) - The Turkish Lira lost ground against the U.S. dollar in the European session on Tuesda ...Full Story»

Yen Advances Amid Risk Aversion (03 hr(s), 24 min(s), 08 sec(s) ago)
(RTTNews) - The Japanese yen traded higher against its major counterparts in the European session ...Full Story»

Euro Falls After German PPI (06 hr(s), 27 min(s), 07 sec(s) ago)
(RTTNews) - Following the release of German producer prices for September at 2:00 am ET Tuesday, t ...Full Story»

Euro Steady Ahead Of German PPI (06 hr(s), 36 min(s), 08 sec(s) ago)
(RTTNews) - At 2:00 am ET Tuesday, Destatis releases German producer prices for September. Ahead o ...Full Story»

Dollar Holding Gains On Light Data Day (20 min(s), 52 sec(s) ago)
(RTTNews) - The dollar is rising against all of its major rivals Monday afternoon. The lack of U.S ...Full Story»

Loonie Little Changed After Canada Wholesale Sales (02 min(s), 52 sec(s) ago)
(RTTNews) - Following the release of Canada wholesale sales for August at 8:30 am ET Monday, the l ...Full Story»

Loonie Mixed Ahead Of Canada Wholesale Sales (03 min(s), 08 sec(s) ago)
(RTTNews) - At 8:30 am ET Monday, Canada wholesale sales for August are due. Ahead of the dat ...Full Story»

Pound Drops On Brexit Concerns (21 min(s), 08 sec(s) ago)
(RTTNews) - The pound fell against its major counterparts in the European session on Monday, after ...Full Story»

Search

FOREX NEWS

Turkish Lira At 8-day Low Versus U.S. Dollar On Turkey Political Worries

10/23/2018 - 06:42 AM (RTTNews)
(RTTNews) - The Turkish Lira lost ground against the U.S. dollar in the European session on Tuesda ...Full Story>>

Yen Advances Amid Risk Aversion

10/23/2018 - 05:08 AM (RTTNews)
(RTTNews) - The Japanese yen traded higher against its major counterparts in the European session ...Full Story>>

Euro Falls After German PPI

10/23/2018 - 02:06 AM (RTTNews)
(RTTNews) - Following the release of German producer prices for September at 2:00 am ET Tuesday, t ...Full Story>>

Euro Steady Ahead Of German PPI

10/23/2018 - 01:56 AM (RTTNews)
(RTTNews) - At 2:00 am ET Tuesday, Destatis releases German producer prices for September. Ahead o ...Full Story>>

Dollar Holding Gains On Light Data Day

10/22/2018 - 14:53 PM (RTTNews)
(RTTNews) - The dollar is rising against all of its major rivals Monday afternoon. The lack of U.S ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.