Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Dollar Down, Investors Digest Data and Wait for Fed Taper Clues

Forex Sep 16, 2021 12:05AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
GBP/USD
+0.51%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
USD/JPY
+0.23%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AUD/USD
-1.47%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NZD/USD
-2.22%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
JP225
-1.83%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BARC
-0.25%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Gina Lee

Investing.com – The dollar was down on Thursday morning in Asia, moving towards the middle of a range that it has stuck to for the past month. Investors now look to the U.S. Federal Reserve’s policy decision, due to be handed down next week, for further clues on when the central bank will begin asset tapering.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down 0.05% to 92.485 by 11:57 PM ET (3:57 AM GMT).

The USD/JPY pair inched down 0.05% to 109.31.

The AUD/USD pair edged down 0.14% to 0.7324. Australian jobs data released earlier in the day showed that the employment change contracted by 146,300, while the full employment change contracted by 68,000, in August. The unemployment rate was 4.5%.

The NZD/USD pair edged up 0.15% to 0.7114, with New Zealand’s GDP growing a better than expected 2.8% quarter-on-quarter and 17.4% year-on-year in the second quarter.

The USD/CNY pair inched up 0.04% to 6.4347 while the GBP/USD pair inched down 0.02% to 1.3834.

"We're waiting for the Fed next week that remains the key focus. I do not think the dollar is going to go too far in either direction before that,” Barclays (LON:BARC) senior FX strategist Shinichiro Kadota told Reuters.

"The Fed’s two-day policy meeting ending Sep. 22 should provide some clarity on the outlook for both asset tapering and eventual interest rate hikes.”

The yen's strong performance on Wednesday may have been helped by foreign flows into Japanese stocks with the Nikkei reaching a multi-decade high this week, as well as covering of short positions, said

Japan also released trade data earlier in the day showed that exports grew 26.2% year-on-year and imports grew 44.7% year-on-year in August. The trade balance was at a deficit of JPY635.4 billion ($5.8 billion).

Meanwhile, Norway's crown rose slightly to 8.5710 per dollar, moving back toward the more than two-month high of 8.5598 reached overnight as oil prices rose. The crown also hit its strongest level against the euro since Jun. 25 at 10.1119.

"EUR-NOK is one of the preferred exposures to play a rising crude price, and we're seeing a solid bearish trend here," Pepperstone head of research Chris Weston said in a note.

"If Brentand WTI futures are headed for their respective double tops then EUR-NOK is going one way in my view."

Dollar Down, Investors Digest Data and Wait for Fed Taper Clues
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
kizzy flez
kizzy flez Oct 20, 2021 2:01PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I won't to make money hear
AIM Investor Journal
AIM_IJ Sep 16, 2021 6:55AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Global stock markets have struggled to make gains so far this week, hurt by worries about the global economic recovery. Unexpectedly weak data from China on Wednesday reinforced investor bets that global growth is slowing due to COVID-19 and supply chain constraints
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email