Categories Markets

Dollar rallies for third day on impending Fed rate hike

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.

 

Market: US Futures point to higher open on trade-talk optimism

 

 

 

We’re on Apple News! Follow us to receive the latest stock market, earnings and financial news at your fingertips

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top