FOREX TradingCharts.com

Forex News: U.S. Dollar Strengthens On Fed Rate Hike Expectations

U.S. Dollar Strengthens On Fed Rate Hike Expectations

07/13/2018 - 07:01:00 (RTTNews)

(RTTNews) - The U.S. dollar advanced against its major counterparts in the early European session on Friday, as an overnight data showing an acceleration in annual rate of consumer price growth raised hopes that the Federal Reserve may raise interest rates twice more this year.

Data from the Labor Department showed that the consumer inflation improved to more than a six-year high of 2.9 percent annually in June from 2.8 percent in May.

Core consumer price growth also edged up to 2.3 percent in June from 2.2 percent in May, reaching the highest level since January of 2017.

The data boosted the likelihood of aggressive rate hikes by the Federal Reserve.

European shares were higher, following positive cues from Asia, as concerns over an escalating US-China trade spat eased.

China's trade grew by double digits in June despite mounting tensions with Washington, official data showed.

Exports climbed 11.3 percent year-over-year in dollar terms in June, faster than the expected rise of 9.5 percent. Imports advanced 14.1 percent from a year ago, well below economists' forecast for a growth of 21.3 percent.

The currency has been trading in a positive territory against its major rivals in the Asian session, with the exception of the franc.

The greenback spiked up to 1.0046 against the franc, its strongest since May 15. The greenback is seen finding resistance around the 1.02 level.

The greenback that ended Thursday's trading at 112.53 against the yen strengthened to more than a 5-month high of 112.80. The greenback is likely to find resistance around the 114.00 level.

The greenback strengthened to 11-day highs of 1.1613 against the euro and 1.3103 against the pound, from its early lows of 1.1675 and 1.3206, respectively. The next possible resistance for the greenback is seen around 1.15 against the euro and 1.29 against the pound.

The greenback edged up to 1.3202 against the loonie and 0.7368 against the aussie, off its early low of 1.3152 and 2-day low of 0.7422, respectively. If the greenback continues its rise, 1.33 and 0.72 are possibly seen as its next resistance levels against the loonie and the aussie, respectively.

The greenback climbed to a 10-day high of 0.6725 against the kiwi, from a 2-day low of 0.6787 seen at 9:30 pm ET. On the upside, 1.33 is possibly seen as the next resistance level for the greenback.

Looking ahead, U.S. export and import prices and University of Michigan's preliminary consumer sentiment index, as well as Canada existing home sales, all for June, are due in the New York session.

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


Dollar Falling On Trump And Bullard Comments (21 min(s), 26 sec(s) ago)
(RTTNews) - The dollar is losing ground against its major rivals Friday afternoon. On a quiet day ...Full Story»

U.S. Dollar Extends Decline After Fed Bullard Suggests To Put Off Hikes (03 min(s), 26 sec(s) ago)
(RTTNews) - The U.S. dollar extended its early slide against its major counterparts in the New Yor ...Full Story»

Canadian Dollar Climbs After Strong Inflation, Retail Sales Data (51 min(s), 26 sec(s) ago)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in early New York deal ...Full Story»

Loonie Advances After Canada Retail Sales, Consumer Inflation (33 min(s), 26 sec(s) ago)
(RTTNews) - Canada retail sales for May and consumer inflation for June have been released from St ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales, Consumer Inflation (30 min(s), 26 sec(s) ago)
(RTTNews) - Canada retail sales for May and consumer inflation for June are due from Statistics Ca ...Full Story»

Canadian Dollar Advances Against Most Majors (18 min(s), 26 sec(s) ago)
(RTTNews) - The Canadian dollar climbed against its most major counterparts in the European sessio ...Full Story»

Pound Little Changed After U.K. Public Sector Finance Data (39 min(s), 26 sec(s) ago)
(RTTNews) - Following the release of U.K. public sector finance data for June at 4:30 am ET Friday ...Full Story»

U.S. Dollar Falls On Trump's Comments (03 min(s), 26 sec(s) ago)
(RTTNews) - The U.S. dollar slipped against its major counterparts in the Asian session on Friday, ...Full Story»

Search

FOREX NEWS

Dollar Falling On Trump And Bullard Comments

07/20/2018 - 14:18 PM (RTTNews)
(RTTNews) - The dollar is losing ground against its major rivals Friday afternoon. On a quiet day ...Full Story>>

U.S. Dollar Extends Decline After Fed Bullard Suggests To Put Off Hikes

07/20/2018 - 11:00 AM (RTTNews)
(RTTNews) - The U.S. dollar extended its early slide against its major counterparts in the New Yor ...Full Story>>

Canadian Dollar Climbs After Strong Inflation, Retail Sales Data

07/20/2018 - 09:50 AM (RTTNews)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in early New York deal ...Full Story>>

Loonie Advances After Canada Retail Sales, Consumer Inflation

07/20/2018 - 08:32 AM (RTTNews)
(RTTNews) - Canada retail sales for May and consumer inflation for June have been released from St ...Full Story>>

Loonie Mixed Ahead Of Canada Retail Sales, Consumer Inflation

07/20/2018 - 08:27 AM (RTTNews)
(RTTNews) - Canada retail sales for May and consumer inflation for June are due from Statistics Ca ...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.