Dollar flat against peers as markets digest U.S. economic data
Updates headline, first paragraph, adds analyst comment; changes byline, dateline, previous TOKYO/LONDON
By Chibuike Oguh, Alun John
NEW YORK/LONDON, Oct 11 (Reuters) -The U.S. dollar was little changed against major currencies on Friday as markets digested a slew of economic data that supported the Federal Reserve's current monetary policy path, while a rise in British economic growth could not lift the pound from one-month lows.
A gauge of U.S. wholesale prices was unchanged in September, the Labor Department reported on Friday, the latest economic data to indicate the Fed will likely cut rates again next month.
Consumer prices in September rose 0.3%, according to data released on Thursday, slightly hotter than expected, while weekly jobless claims figures surged, pointing to labor market weakness. The weekly jobless claims data was skewed by Hurricane Helene. Next week's data will be affected by Hurricane Milton.
Moves were fairly muted across major currencies. The euro was flat at $1.10938 EUR=EBS, the pound was up 0.08% at $1.3071 GBP=D3, while the dollar was up 0.34% against the Japanese yen at 149.11 JPY=EBS.
As a result, the dollar index =USD was flat at 102.89, taking a breather after a recent steady climb that took it above 103 on Thursday, its highest since mid-August on the back of traders reducing bets on further jumbo interest rate cuts by the Federal Reserve at its remaining meetings this year.
"The market is satisfied because there's nothing there that really tells against the narrative that the Fed is cutting; the only debate is how fast they're going to cut," said Steven Englander, head of Global G10 FX Research at Standard Chartered in New York.
"Overall, the data have been slightly encouraging to that narrative and none of the data have been discouraging to the narrative that the Fed is cutting rates."
Britain's economy grew in August after two consecutive months of stagnation, providing some relief to finance minister Rachel Reeves ahead of the new Labour government's first budget later this month.
However, in addition to being broadly steady on the dollar the pound was little changed on the euro at 83.67 pence to the common currency. EURGBP=D3
Traders are also watching French politics, after the government on Thursday delivered its 2025 budget with plans for 60 billion euros ($65.5 billion) worth of spending cuts and tax hikes on the wealthy and big companies to tackle a soaring fiscal deficit.
The budget is unlikely to pass until December, as French Prime Minister Michel Barnier and his allies in President Emmanuel Macron's camp lack a majority by a sizeable margin and will have little choice but to accept numerous concessions.
Markets are also awaiting a news conference from China's finance ministry on fiscal policy on Saturday. The Chinese yuan CNH= strengthened 0.17% against the greenback to 7.071 per dollar.
The Australian dollar AUD=D3 strengthened 0.04% versus the greenback to $0.6742, while the New Zealand dollar NZD=D3 was at $0.61 after the central bank on Wednesday slashed rates by a half point and hinted at further cuts to come.
In cryptocurrencies, bitcoin BTC= gained 3.43% to $61,771.00. Ethereum ETH= rose 2.74% to $2,431.10.
Currency bid prices at 11 October 02:21 p.m. GMT | |||||||
Description | RIC | Last | U.S. Close Previous Session | Pct Change | YTD Pct | High Bid | Low Bid |
Dollar index | =USD | 102.82 | 102.89 | -0.06% | 1.43% | 102.99 | 102.76 |
Euro/Dollar | EUR=EBS | 1.0946 | 1.0938 | 0.08% | -0.83% | $1.0953 | $1.0927 |
Dollar/Yen | JPY=D3 | 149.15 | 148.58 | 0.39% | 5.76% | 149.25 | 148.51 |
Euro/Yen | EURJPY= | 1.0946 | 162.48 | 0.49% | 4.91% | 163.29 | 162.32 |
Dollar/Swiss | CHF=EBS | 0.8573 | 0.8563 | 0.15% | 1.9% | 0.8585 | 0.856 |
Sterling/Dollar | GBP=D3 | 1.3075 | 1.3061 | 0.11% | 2.75% | $1.3082 | $1.3042 |
Dollar/Canadian | CAD=D3 | 1.3743 | 1.3742 | 0.02% | 3.69% | 1.3785 | 1.3726 |
Aussie/Dollar | AUD=D3 | 0.6749 | 0.6742 | 0.11% | -1% | $0.675 | $0.6726 |
Euro/Swiss | EURCHF= | 0.9382 | 0.9364 | 0.19% | 1.03% | 0.9387 | 0.9363 |
Euro/Sterling | EURGBP= | 0.8371 | 0.8373 | -0.02% | -3.45% | 0.8383 | 0.8365 |
NZ Dollar/Dollar | NZD=D3 | 0.6102 | 0.6095 | 0.12% | -3.43% | $0.6107 | 0.6072 |
Dollar/Norway | NOK= | 10.6953 | 10.7222 | -0.25% | 5.53% | 10.7637 | 10.6959 |
Euro/Norway | EURNOK= | 11.7076 | 11.7412 | -0.29% | 4.31% | 11.772 | 11.7055 |
Dollar/Sweden | SEK= | 10.3598 | 10.3744 | -0.14% | 2.91% | 10.4157 | 10.3601 |
Euro/Sweden | EURSEK= | 11.3404 | 11.3617 | -0.19% | 1.93% | 11.3883 | 11.341 |
World FX rates https://tmsnrt.rs/2RBWI5E
Reporting by Chibuike Oguh in New York and Alun John in London; Editiing by Kim Coghill, Andrew Heavens and Jonathan Oatis
Aset Terkait
Berita Terbaru
Pengungkapan: Entitas XM Group menyediakan layanan khusus eksekusi dan akses ke Fasilitas Trading Online kami, yang memungkinkan Anda untuk melihat dan/atau menggunakan konten yang tersedia pada atau melalui situs, yang tidak untuk mengubah atau memperluas, serta tidak mengubah atau memperluas hal tersebut. Akses dan penggunaan ini selalu sesuai dengan: (i) Syarat dan Ketentuan; (ii) Peringatan Risiko; dan (iii) Pengungkapan Penuh. Oleh karena itu, konten disediakan hanya sebagai informasi umum. Anda juga harus ketahui bahwa konten Fasilitas Trading Online kami bukan sebagai ajakan atau tawaran untuk untuk melakukan transaksi apa pun di pasar finansial. Trading di pasar finansial mana pun melibatkan tingkat risiko yang signifikan pada modal Anda.
Semua materi yang diterbitkan di Fasilitas Trading Online kami hanya untuk tujuan edukasi/informasi dan tidak boleh mengandung nasihat dan rekomendasi finansial, pajak investasi atau trading, catatan harga trading kami, penawaran, permintaan, transaksi dalam instrumen finansial apa pun atau promo finansial untuk Anda yang tidak diminta.
Konten pihak ketiga apa pun, serta konten yang disiapkan oleh XM, seperti opini, berita, riset, analisis, harga, informasi lain atau link ke situs pihak ketiga yang tersedia "sebagaimana adanya", sebagai komentar pasar umum dan bukan menjadi nasihat investasi. Sejauh konten apa pun ditafsirkan sebagai penelitian investasi, Anda harus memperhatikan dan menerima bahwa konten tersebut tidak dimaksudkan dan belum disiapkan sesuai dengan persyaratan hukum yang dirancang untuk mempromosikan kemandirian riset investasi dan dengan demikian akan dianggap sebagai komunikasi pemasaran di bawah hukum dan peraturan yang relevan. Mohon dipastikan bahwa Anda telah membaca dan memahami Notifikasi pada Riset Investasi Non-Independen dan Peringatan Risiko kami mengenai informasi di atas, yang dapat diakses disini.