Dollar rallied for the third day, especially after indications of a possible US interest rate hike the coming week. However, the possibility of a more cautious take on future rate hikes slowed it down.
The dollar gained 6% but the trend of US treasury yields have pulled down on expectations. It also suggests that the Fed could be on a wait-and-watch towards monetary policy outlook.
The dollar had touched higher at 97.40 earlier today.
Even as Street expects just one more rate hike in 2019, banks like JP Morgan (JPM) looks to at least four interest rate hikes in the coming year.
US inflation data also indicated that headline inflation forecast is at 2.2%, up from 2.1%.
The 10-year Treasury note yield rose to 2.886%, as it continued its ascent from recent lows.
Earlier today, US futures hinted at a higher open in the stock market after ending flat on Tuesday, on renewed optimism regarding the US-China trade deal talks.
We’re on Apple News! Follow us to receive the latest stock market, earnings and financial news at your fingertips
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
