The U.S. dollar saw a slight decrease in value on Friday, following a strong retail sales report that eased concerns about a possible recession in the country. The Dollar Index, which measures the dollar against a basket of other currencies, dropped by 0.1% to 102.725. This decline comes after a 0.4% increase in the previous
Forex
Recently, BofA Securities analysts have brought attention to the Swiss National Bank’s (SNB) intervention in the foreign exchange markets, specifically aimed at weakening the Swiss franc (CHF) amidst heightened market volatility. This intervention came as the Real Effective Exchange Rate (REER) showed signs of recovery from its year-to-date decline, putting pressure on the SNB to
After a soft U.S. producer inflation reading, most Asian currencies firmed while the dollar dropped, sparking hopes for deeper interest rate cuts. The dollar index and dollar index futures weakened slightly in Asian trade, coming close to an eight-month low hit earlier in August. This shift in market sentiment was a result of the producer
In a recent market update, Citi Research has expressed a growing bearish sentiment towards risk assets and has advised investors to sell any rallies in the EUR/USD currency pair. Despite a slight uptick in EUR/USD trading by 0.1% to $1.0926, there has been a general downward trend over the past week. Citi Research highlighted concerns
The recent fluctuations in the currency market have caused the yen to fall against the dollar, following a period of extreme volatility. Last week saw a massive sell-off across currencies and stock markets, triggered by concerns over the U.S. economy and the Bank of Japan’s hawkish stance. However, the market seems to have stabilized, with
Recent data released by the U.S. Commodity Futures Trading Commission and LSEG revealed that leveraged funds, including hedge funds and various money managers, have reduced their position on the Japanese yen. The net short stance shrunk to the smallest level since February 2023, with a decrease of approximately 24,158 contracts compared to the previous week.
The recent data on U.S. jobless claims has had a significant impact on the currency markets, particularly on the U.S. dollar. The Dollar Index, which tracks the greenback against a basket of other major currencies, remained steady near a one-month high following the release of stronger than expected jobless claims numbers. This indicates that the
Mexico’s ruling party, Morena, is currently in discussions regarding changes to a proposed judicial reform. The original proposal put forth by outgoing President Andres Manuel Lopez Obrador raised concerns among investors as it introduced the idea of electing nearly 1,600 judges, including those for the Supreme Court, through popular vote. This move sparked fears of
Asian currencies experienced a downward trend on Wednesday as the dollar made gains following recent declines. This shift in the market was particularly evident in the yen, which fell sharply after Bank of Japan officials tempered expectations of interest rate hikes. The dollar index and dollar index futures both rose by 0.3% in Asian trade,
The U.S. dollar saw a rise on Tuesday, marking a reversal of some of the recent losses experienced by the currency. After hitting a seven-month low, the Dollar Index, which measures the greenback against six other major currencies, traded 0.4% higher at 102.907. This shift comes after a period of instability and uncertainty in the