The US dollar is trading lower against its major currency rivals on Tuesday after new US government data found that wholesale inflation declined at the end of 2018, recording its biggest drop in five months. The greenback is also tumbling on a variety of comments from the experts warning about the government shutdown’s impact on the US economy.
The US dollar fell against most other currencies over the week as traders were becoming more and more convinced that the Federal Reserve may perform no interest rate hikes at all this year.
The US dollar was mixed following the release of an inflation report. Market analysts were still bearish on the currency, saying that there are not many factors that will support the greenback over the long term.
The US dollar gained against its most-traded rivals today following yesterday’s losses caused by dovish monetary policy minutes released by the Federal Reserve. Market analysts explained the rebound by comments from Fed Chairman Jerome Powell.
The Japanese yen is strengthening against its American counterpart midweek as the world’s third-largest economy is on track for its longest expansion since the Second World War. On the data front, there were plenty of positives to whet the appetite of Japanese investors. With the US-Japan trade negotiations on the horizon, markets may be rallying ahead of the economic storm clouds.
The US dollar is losing against some of its major currency rivals at the end of the trading week, despite the US government reporting better-than-expected jobs numbers for December. The greenback is looking to maintain the momentum it had in 2018 when it recorded its best annual performance since 2015.
The Canadian dollar surged to its best level in two weeks, just days after lodging its worst annual performance since 2015. The loonie is gaining steam on higher energy prices, but investors are looking to Friday’s labor report, which could signal how the Bank of Canada (BOC) will move on interest rates later this month.
The US dollar is kicking off 2019 lower against some of its major currency rivals. On Tuesday, the greenback took a slight hit on weaker December manufacturing data, as well as markets forecasting a more dovish Federal Reserve this year. Can the buck mirror its incredible but surprising performance from 2018? Or it will retreat amid political turmoil and geopolitical tensions?
The euro today rallied against the US dollar from the Asian session and maintained its gains into the European session amid minimal holiday trading. However, the single currency dropped slightly following the release of the disappointing German consumer inflation data in the early American session.
The US dollar is surging against its major rivals on Friday, thanks to positive economic data and comments by one Federal Reserve official. The greenback is on a tear in 2018, despite several factors that would normally the hurt currency, and it will likely finish the year up roughly 5%. Will 2019 be as friendly to the buck?
