FOREX TradingCharts.com

Forex News: U.S. Dollar Climbs As Fed Meeting Looms

U.S. Dollar Climbs As Fed Meeting Looms

07/22/2022 - 03:29:00 (RTTNews)

(RTTNews) - The U.S. dollar advanced against its major counterparts in the Asian session on Friday, on expectations for an aggressive rate hike from the Federal Reserve at its meeting due next week.

The Fed meets on July 26 and 27, at which the policymakers are expected to hike rates by 75 basis points.

Investors digested the latest batch of economic data from the U.S. showing an increase in initial jobless claims last week and a contraction in regional factory activity for July.

Disappointing earnings results from Snap fuelled fresh worries about the economic outlook.

Earnings results from Apple, Microsoft, Alphabet, Meta and Visa are due next week.

The greenback rose to 137.95 against the yen and 0.9690 against the franc, after falling to a 9-day low of 137.02 and a 3-day low of 0.9658, respectively in early deals. The greenback is seen finding resistance around 139.00 against the yen and 0.98 against the franc.

Reversing from its prior lows of 1.0231 against the euro and 1.2003 against the pound, the greenback edged up to 1.0180 and 1.1952, respectively. The currency is likely to locate upside target levels of around 0.97 against the euro and 1.17 against the pound.

The greenback gained to 0.6897 against the aussie, from more than a 3-week low of 0.6938 seen at 5:30 pm ET. On the upside, 0.67 is possibly seen as its next resistance level.

The greenback rebounded from its previous lows of 0.6253 against the kiwi and 1.2866 against the loonie, rising to 0.6211 and 1.2898, respectively. If the greenback rises further, 0.60 and 1.31 are possibly seen as its next resistance levels against the kiwi and the loonie, respectively.

Looking ahead, PMI reports from major European economies are due in the European session.

Canada retail sales for May will be featured in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Japanese Yen Advances Against Majors (10 hr(s), 57 min(s), 10 sec(s) ago)
(RTTNews) - The Japanese yen drifted higher against its major rivals in the New York session on Mo ...Full Story»

Canadian Dollar Weakens As Oil Prices Drop (11 hr(s), 33 min(s), 10 sec(s) ago)
(RTTNews) - The Canadian dollar depreciated against its most major counterparts in the European se ...Full Story»

U.S. Dollar Higher On Fed Rate Hike Bets, Weak China Data (13 hr(s), 15 min(s), 10 sec(s) ago)
(RTTNews) - The U.S. dollar advanced against its most major counterparts in the European session o ...Full Story»

Australian, NZ Dollars Fall On Disappointing China Data (17 hr(s), 36 min(s), 10 sec(s) ago)
(RTTNews) - The Australian and NZ dollars dropped against their major counterparts in the Asian se ...Full Story»

Dollar Climbs After U.S. Consumer Sentiment Index (11 hr(s), 48 min(s), 09 sec(s) ago)
(RTTNews) - The University of Michigan's preliminary consumer sentiment for August has been re ...Full Story»

U.S. Dollar Appreciates On Fed Rate Hike Odds (14 hr(s), 27 min(s), 10 sec(s) ago)
(RTTNews) - The U.S. dollar was higher against its major counterparts in the European session on F ...Full Story»

Pound Advances Amid Strong U.K. Economic Data (17 hr(s), 30 min(s), 10 sec(s) ago)
(RTTNews) - The pound climbed against its most major counterparts on Friday, as the U.K. economy c ...Full Story»

Australian Dollar Climbs As Fed Rate Hike Concerns Fade (11 hr(s), 27 min(s), 10 sec(s) ago)
(RTTNews) - The Australian dollar advanced against its most major counterparts in the European ses ...Full Story»

Search

FOREX NEWS

Japanese Yen Advances Against Majors

08/15/2022 - 10:58 AM (RTTNews)
(RTTNews) - The Japanese yen drifted higher against its major rivals in the New York session on Mo ...Full Story>>

Canadian Dollar Weakens As Oil Prices Drop

08/15/2022 - 10:21 AM (RTTNews)
(RTTNews) - The Canadian dollar depreciated against its most major counterparts in the European se ...Full Story>>

U.S. Dollar Higher On Fed Rate Hike Bets, Weak China Data

08/15/2022 - 08:39 AM (RTTNews)
(RTTNews) - The U.S. dollar advanced against its most major counterparts in the European session o ...Full Story>>

Australian, NZ Dollars Fall On Disappointing China Data

08/15/2022 - 04:20 AM (RTTNews)
(RTTNews) - The Australian and NZ dollars dropped against their major counterparts in the Asian se ...Full Story>>

Dollar Climbs After U.S. Consumer Sentiment Index

08/12/2022 - 10:08 AM (RTTNews)
(RTTNews) - The University of Michigan's preliminary consumer sentiment for August has been re ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.