Federal Reserve Governor Christopher Waller has affirmed that the US dollar will remain the world's reserve currency.
Tags: US dollar
European Shares Gain While Dollar Weaken as Fed Signals Rate Cuts Ahead
European and US share prices rose on August 22 following Federal Reserve signals of potential interest rate cuts, while the dollar remained weak and oil prices stabilized after a recent decline.
Asian Share Markets Likely to Falter Following Biden's Withdrawal from White House Race
Share markets across Asia are expected to stay in the red after last week’s tech bloodbath, as well as the shock announcement of US President Joe Biden bowing out of the presidential race in November.
Japanese Yen Falls to Lowest Against Dollars Since 1986; Currency Markets Now on Alert
The Japanese yen has reached its lowest against the dollar since 1986, mostly due to the interest rate gap, prompting concerns over potential intervention by Japanese authorities.
US Dollar Drops to 3-Week Low Amid Slowing Economy
The US dollar dropped to a three-week low on Monday as data revealed a slowing economy. The US dollar dropped to a three-week low on Monday as data revealed a slowing economy with lower-than-anticipated manufacturing and construction spending figures.
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China's yuan has ousted the US dollar as the most traded currency in Russia in 2023. China's yuan has ousted the US dollar as the most traded currency in Russia in 2023.
The US dollar has slipped to a five-month low against the euro and several other currencies, The US dollar has slipped to a five-month low against the euro and several other currencies, driven by expectations that the Federal Reserve might soon implement interest rate cuts.
Oil price, Asian stocks and bond yields were trading marginally higher on Friday ending the week on positive mode. Japanese currency Yen continued to rise against US dollar and this also further aided Asian stocks.
US labour market is gaining grounds helped by robust consumer spending, despite poor profits among corporate giants. The country added more than 200,000 jobs per month, with an average recruitment totalling to 213,000 new jobs a month in the past four years.
Stocks in the Asian market faced a steep decline for the second day following the drop in oil to less than $40 per barrel. In addition to the oil price drop, investors were curious about the US financial policy.
Hewlett Packard Enterprises (HPE) has beaten analysts' forecasts for the first quarter earnings. HPE has posted earnings per share (EPS) of 41 cents a share for first quarter as against the 40 cents per share of average forecast made by analysts. Hewlett Packard Enterprises is expected close Tsinghua deal by end of May as soon as it gets Chinese regulatory approval.
G-20 summit has been concluded with no major surprising outcome. Lack of strong commitments has helped Yen to gain some value against US dollar. However, on Monday, US dollar has regained some value. The appreciation has been analyzed as an outcome of positive US data which in turn is the consequence of Fed rate hiking.
According to Indra Nooyi, the ongoing global economic slowdown threatens economic recovery in the US. The oil market combined with political turmoil creates an economic pressure in the nation.
The weakening Rupee against the US dollar and downfall on financial markets are not exceptional. The Indian currency is doing well as it's strengthening against other global currencies. Indian markets tumbled on Thursday as key indices Sensex and Nifty fell over three percent led by banking stocks.
