FOREX TradingCharts.com

Forex News: U.S. Dollar Lower On Hopes For Slower Fed

U.S. Dollar Lower On Hopes For Slower Fed Rate Hikes

11/11/2022 - 08:26:00 (RTTNews)

(RTTNews) - The U.S. dollar lost ground against its major counterparts in the European session on Friday, as indications that inflation has peaked in October supported the case for a slowdown in the pace of rate hikes in the coming months.

Dallas Fed President Lorie Logan and San Francisco Fed President Mary Daly suggested that the central bank may ease the pace of its hikes in the future.

Traders are assigning an 85.4 percent probability of a 50 basis-point rate hike at the December meeting.

The dollar index that tracks the greenback against a basket of other currencies touched near a 3-month low of 107.10.

U.S. stock futures are higher, as soft inflation data supported odds for smaller rate hikes by the Fed.

The greenback depreciated to near a 2-month low of 0.9568 against the franc and near a 3-month low of 1.0297 against the euro, from its early highs of 0.9682 and 1.0163, respectively. The currency may challenge support around 0.93 against the franc and 1.05 against the euro.

The greenback touched a 2-1/2-month low of 1.1774 against the pound and more than a 2-month low of 138.75 against the yen, after climbing to 1.1647 and 142.48, respectively in early deals. The currency is seen finding support around 1.22 against the pound and 134.00 against the yen.

The greenback fell to 0.6060 against the kiwi and 0.6679 against the aussie, its lowest levels in nearly two months. The greenback is likely to challenge support around 0.62 against the kiwi and 0.69 against the aussie.

The greenback touched 1.3284 against the loonie for the first time since September 20. Next key support for the currency is seen around the 1.30 level.

The University of Michigan's preliminary U.S. consumer sentiment index for November is set for release 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


Swiss Franc Weakens On China Reopening Hopes (09 hr(s), 56 min(s), 24 sec(s) ago)
(RTTNews) - The Swiss franc declined against its key counterparts in the European session on Tuesd ...Full Story»

Loonie Little Changed After Canada GDP Data (12 hr(s), 08 min(s), 24 sec(s) ago)
(RTTNews) - Following the release of Canada GDP data for the third quarter at 8:30 am ET Tuesday, ...Full Story»

Loonie Falls Ahead Of Canada GDP Data (12 hr(s), 17 min(s), 23 sec(s) ago)
(RTTNews) - Canada GDP data for the third quarter is due at 8:30 am ET Tuesday. Ahead of the data, ...Full Story»

Australian, NZ Dollars Climb As China COVID Concerns Reduce (14 hr(s), 38 min(s), 24 sec(s) ago)
(RTTNews) - The Australian and NZ dollars climbed against their major counterparts in the European ...Full Story»

Pound Weakens As European Stocks Drop On China Worries (12 hr(s), 44 min(s), 24 sec(s) ago)
(RTTNews) - The pound declined against its most major counterparts in the European session on Mond ...Full Story»

Australian, NZ Dollars Drop Amid Lockdown Protests In China (16 hr(s), 23 min(s), 24 sec(s) ago)
(RTTNews) - The Australian and NZ dollars slipped against their major counterparts in the Asian se ...Full Story»

Pound Weakens In Cautious Trade (14 hr(s), 53 min(s), 24 sec(s) ago)
(RTTNews) - The pound declined against its most major counterparts in the European session on Frid ...Full Story»

Pound Strengthens On Expectations For Smaller Fed Rate Hikes (12 hr(s), 08 min(s), 24 sec(s) ago)
(RTTNews) - The pound climbed against its major counterparts in the European session on Thursday, ...Full Story»

Search

FOREX NEWS

Swiss Franc Weakens On China Reopening Hopes

11/29/2022 - 10:45 AM (RTTNews)
(RTTNews) - The Swiss franc declined against its key counterparts in the European session on Tuesd ...Full Story>>

Loonie Little Changed After Canada GDP Data

11/29/2022 - 08:33 AM (RTTNews)
(RTTNews) - Following the release of Canada GDP data for the third quarter at 8:30 am ET Tuesday, ...Full Story>>

Loonie Falls Ahead Of Canada GDP Data

11/29/2022 - 08:25 AM (RTTNews)
(RTTNews) - Canada GDP data for the third quarter is due at 8:30 am ET Tuesday. Ahead of the data, ...Full Story>>

Australian, NZ Dollars Climb As China COVID Concerns Reduce

11/29/2022 - 06:03 AM (RTTNews)
(RTTNews) - The Australian and NZ dollars climbed against their major counterparts in the European ...Full Story>>

Pound Weakens As European Stocks Drop On China Worries

11/28/2022 - 07:59 AM (RTTNews)
(RTTNews) - The pound declined against its most major counterparts in the European session on Mond ...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.