Dollar holds gains after China HSBC PMI improves mildly

The Australian dollar held early gains on Thursday in Asia with a slight pickup in the HSBC China manufacturing survey helping sentiment with China a top export destination and minutes from the Federal Reserve showed a rate hike is unlikely next month.

AUD/USD traded at 0.7880, up 0.08%, while USD/JPY changed hands at 121.18, down 0.14%. EUR/USD traded at 1.1115, up 0.19%. In China, the May HSBC flash manufacturing PMI rose to 49.1, up slightly from a disappointing one-year low of 48.9 in April. The output index fell to 48.4 in the HSBC May survey, a 13-month-low


Visit Us: www.capitalgrow.in
Contact Us: 07316983000
Free Trial: http://capitalgrow.in/free-trial.php
usd

Read More

Dollar edges higher but remains on defensive after U.S. data

The dollar edged higher against the euro on Monday but remained close to three-month lows after recent downbeat U.S. economic reports added to the view that the Federal Reserve will delay hiking interest rates for longer.

EUR/USD dipped 0.1% to 1.1438, not far from the three-month high of 1.1466 struck on Friday.

Data on Friday showed that U.S. industrial production fell for the fifth straight month in April and another report showed that U.S. consumer sentiment deteriorated to a seven month low this month.

The Federal Reserve said industrial output slid 0.3% after a revised 0.3% decline in March. Economists had expected an increase of 0.1%.

 Visit Us: www.capitalgrow.in

 Contact Us: 07316983000

http://capitalgrow.in/free-trial.php 

 

Read More

EUR/USD pulls away from 3-month peak ahead of U.S. data

The euro slipped lower against the U.S. dollar on Friday, pulling away from a three-month peak as the greenback regained some strength ahead of a flurry of U.S. economic reports due to be released later in te day.

EUR/USD hit 1.1376 during late Asian trade, the session low; the pair subsequently consolidated at 1.1373, down 0.32%.

The pair was likely to find support at 1.1201, the low of May 13 and resistance at 1.1488, the high of February 6.

On Thursday, the Department of Labor said the number of Americans filing claims for initial jobless benefits in the week ending May 9 fell by 1,000 to 264,000, coming in just above the 15 year low reached two weeks ago, indicating that the recovery in the labor market is continuing

Read More

Capital Grow Updates , Volatile equity mkt exerting pressure on rupee

Weak US retail sales data has cast doubts about US growth rebound in Q2 resulting in Dollar weakness against major currencies.

 A volatile equity market in India is exerting pressure on Rupee. However RBIs action is preventing fall beyond 64.30/USD. The Rupee is expected to trade in a range of 63.85-64.25/USD today."

He further said, "Global bond sell off, rising US 10-Year, weakening rupee and higher brent crude oil prices are keeping domestic bond markets bearish. 8.40 percent GOI 2024 is expected to trade in a range of 7.93-7.98 percent today,"

Visit Us : www.capitalgrow.in

Contact Us : 07316983000

Free Trail 

Read More

EUR/USD: Close To A Turning Point

The EUR has been rebounding. It appears that most of the past few weeks’ upside can be traced back to delayed Fed rate -hike expectations. Elsewhere, an improving Eurozone outlook has seemingly fuelled fears about the ECB turning less aggressive on QE and has led to the unwinding of EUR -funded carry trades. It also appears that investors expect Greece and its creditors ultimately to agree on a deal , and avoid a ‘Grexit’

Visit Us : www.capitalgrow.in

 Contact Us : 07316983000

 Free Trail 

Read More

FOREX-Rising yields help euro hit 10-week high vs struggling dollar

The euro hit a ten-week peak on Thursday, tracking European bond yields higher and benefiting from a sell-off in the dollar after weak U.S. jobs data added to speculation that the Federal Reserve will delay raising interest rates.

As Britons took to the ballot box to cast their votes in the most uncertain UK parliamentary elections in decades, the euro also hit a three-month high against sterling  . Though the pound inched down against the dollar, it remained in the range in which it has traded for the past two weeks GBP=D4 .

The greenback has skidded almost five percent in the last month .DXY on a run of softer-than-expected data that has driven investors to push back bets on when the Fed would start hiking rates, with some now not expecting rises until next year.

Figures on Wednesday showed U.S. private sector employers in April hired the fewest workers in over a year, raising a red flag for closely-watched non-farm payrolls numbers due on Friday.

Read More