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Author Topic: Dollar Strengthens, Investors Eyes on US Retail Sales  (Read 531 times)

Brahim Hadj

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Dollar Strengthens, Investors Eyes on US Retail Sales

The dollar rose against major currencies in trading at the New York Stock Exchange overnight (Nov 15) as investors eyed US economic data, including October retail sales. to find signs indicating the direction of the Federal Reserve's (Fed) monetary measures

The dollar index, which measures the dollar's movements against six major currencies in a basket of currencies, was up 0.30% to 95.4078 overnight.

The dollar was higher against the yen to 114.08 from 113.95 and was stronger against the Swiss franc to 0.9246 from 0.9208, but the US dollar weakened. It was lower against the Canadian dollar to 1.2510 Canadian Dollar from 1.2551 Canadian Dollar.

The euro was lower against the dollar to $1.1385 from $1.1443, while the pound rose to $1.3427 from $1.3417, and the Australian dollar rose to $0.7350 from 0.7331. US dollar

Investors are keeping an eye on the US October retail sales report today at 8:30 p.m. Thai time.

Investors are also looking to see other US economic data this week, including October import and export prices, October industrial production, monthly business inventory. September, November housing market index from the National Association of Home Builders (NAHB), October housing starts and building permits, weekly unemployment claims. and the November manufacturing index from the Philadelphia Fed.

The pound continued to be supported by speculations that The Bank of England (BoE) will raise interest rates at its December salary policy meeting. and will continue to raise interest rates next year After BoE Governor Andrew Bailey signaled that the BoE is likely to raise interest rates to cope with rising inflation.

The BoE expects UK inflation to rise above 4 percent by the end of the year. This is twice the BoE target as the UK opens the economy. which causes a shortage of supply and rising oil prices After the government used the previous lockdown measures to contain the spread of the COVID-19 virus.



 

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