
Please try another search
By Peter Nurse
Investing.com - The dollar edged higher in early European trading Monday, but remained near a one-week low as rising Covid-19 cases and slumping U.S. consumer confidence could pressure the Federal Reserve to delay tapering its bond-buying program.
At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded less than 0.1% higher at 92.550, but this is still around 0.5% lower than the levels seen at the end of last week.
USD/JPY was 0.2% lower at 109.38, EUR/USD was marginally lower at 1.1789, GBP/USD fell 0.1% to 1.3854, while the risk-sensitive AUD/USD fell 0.4% to 0.7340 after Australian Covid-19 lockdowns were extended over the weekend.
A University of Michigan confidence survey released late last week showed U.S. consumer sentiment sliding to the lowest level since 2011 amid an acceleration in Covid-19 cases caused by the fast-spreading delta variant.
The number of children hospitalized with the coronavirus in the United States hit a record high of just over 1,900 on Saturday, an alarming development given that the virus has so far taken more of a toll on the older and unhealthier parts of the population. .
This is causing traders to pause for thought after inflation and employment numbers, also released last week, added to the growing expectations of an asset-tapering announcement from the Federal Reserve by the end of this year.
The Fed's central banking conference in Jackson Hole, Wyoming, later this month is now firmly in the spotlight, but ahead of that Chairman Jerome Powell speaks on Tuesday and the central bank releases minutes of its last policy meeting a day later.
Still, the dollar is trading in narrow ranges with the collapse of the Afghan government pointing risk-averse traders towards safe havens.
“Geopolitical developments in Afghanistan over the weekend are dominating the world’s headlines but it is probably too early to assess what could be the fall-out in the FX market,” said analysts at ING, in a note.
NZD/USD fell 0.2% to 0.7022 ahead of a Reserve Bank of New Zealand's policy meeting on Wednesday, which could result in the first hike in the country’s benchmark interest rate since 2014 after last week’s strong employment figures.
By Iain Withers LONDON (Reuters) - The dollar held onto gains against other major currencies on Wednesday, ahead of the release of minutes of the U.S. Federal Reserve's July...
By Peter Nurse Investing.com - The U.S. dollar stabilized in early European trade Wednesday ahead of the release of the minutes from the last Federal Reserve meeting, while...
By Ambar Warrick Investing.com-- Asian currencies moved little on Wednesday ahead of the minutes of the Federal Reserve’s latest meeting, while the Australian dollar fell...
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.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
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.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.