Investors continue to await a speech by Federal Reserve Chairman Jerome Powell at the annual meeting of global central banks for clues on the pace of interest rate hikes.US dollar indexThursday (25th) fell,EURAlmost flat after volatile trading,RMBIt has recovered from a two-year low.
ICE, which tracks the dollar against six major currencies, is late in New York US dollar index (DXY) fell 0.23% to 108.43, having fallen below 108 to a one-week low.
Shaun Osborne, chief foreign exchange strategist at Scotiabank, believes the market may be expecting a hawkish message from Powell. He said U.S. economic data had not been as good since the last policy meeting. With gasoline prices retreating, the market may think that inflationary pressures have peaked.
A number of Fed officials spoke on Thursday, but remained unclear on how much to raise interest rates next month, emphasizing only that they would push rates up to a certain level until inflation is brought under control.
“The only dovish factor to discuss is an incremental policy adjustment to the federal funds rate at next month’s meeting,” said Alan Ruskin, general economic strategist at Deutsche Bank in a note. The 2-and-3 debate.” Ruskin said the Fed will want to see August employment and inflation data before making a decision.
Fed funds futures traders are estimating a 65 percent chance of another 3-yard rate hike next month and a 35 percent chance of a 2-yard rate hike.
On the economic data front, U.S. GDP shrank less than the initial value in the second quarter, revised up from -0.9% to -0.6% y/y.
EURIt was almost flat against the dollar, up 0.05% to $0.9973 by press time.becauseEURThe region is highly dependent on natural gas,EURMuch of the week’s moves have been dragged down by soaring natural gas prices and worries about a global recession have fueled inflows into the dollar.
On Thursday,EURAgainst the U.S. dollar, it once recovered to parity levels.Announced in Germany Business confidence fell to a more than two-year low in AugustEURfall back.thisoutside, thursdayMinutes of the meeting show that as recession risks loom, the European Central Bank (ECB)Concerns about high inflation are becoming more and more entrenched.
RMBRecovering from 2-year low, offshoreRMBAgainst the dollar, up 0.31% to 6.8527 RMB. Lu media reported that China plans to take more measures to boost the domestic economy, including increasing investment in infrastructure projects and expanding support for private companies and technology companies.
News of China’s economic stimulus measures boosts AustraliaNew Zealand dollar。AUDIt was up 1.03% at $0.6978, its highest since Aug. 17,source of stringIt was also up 0.58% at $0.6223 against the dollar.
dollar againstJPYDown 0.45% to 136.47 JPY. Bank of Japan board member Toyoaki Nakamura said the central bank must maintain massive monetary stimulus and more dovish policy guidance until wages show more significant signs of growth. The remarks reinforced the Bank of Japan’s ultra-loose stance that sets it apart from its peers amid a wave of global monetary tightening.
As of Friday (26th) Taiwan time about 6:00 Price:
- US dollar indexReported at 108.4384. -0.1783%
- EURExchange rate against the US dollar (EUR/USD) at 1 EURAgainst $0.9973. +0.0602%
- GBPExchange rate against the US dollar (GBP/USD) at 1 GBPAgainst $1.1830. +0.3137%
- AUDExchange rate against the US dollar (AUD/USD) at 1 AUDAgainst 0.6977 yuan. +1.0281%
- dollar againstCanadian Dollars (USD/CAD) exchange rate at 1.2929 US dollar Canadian Dollars。-0.2854%
- dollar againstJPY (USD/JPY) exchange rate quoted at 136.48 USD JPY。-0.4522%