Forex

Current dollar rate as of today: The dollar is rising against the euro and the pound, slightly falling against the yen

Published

8 months ago

August 15, 2022

Current dollar rate as of today: The dollar is moderately strengthening against the euro and pound sterling. but slightly declining against the Japanese yen after the publication of macroeconomic data from China.

As it became known on Monday, growth in retail sales and industrial production in China in July was weaker than analysts’ forecasts. Retail sales rose 2.7% year-on-year instead of the expected 5% growth, and industrial production growth in China slowed down to 3.8% last month from 3.9% in June, although the analysts’ consensus forecast for the indicator was a 4.6% rise.

U.S. current dollar rate – What’s happening in the market?

Worse-than-expected, statistical data has increased the demand for protective assets, including the yen (to a larger extent) and the dollar.

The People’s Bank of China injected 400 billion yuan (almost $60 billion) into the financial system as part of its medium-term lending program (MLF) to support the Chinese economy, and cut the rate on one-year MLF loans by 10 basis points to 2.75% per year.

The so-called offshore yuan (traded outside mainland China) fell 0.5% to 6.7738 yuan/$1 in Hong Kong amid the easing of monetary policy.

Other important events for world markets this week will be the publication of the minutes of the Federal Reserve’s meeting in July on Wednesday and the report on U.S. retail sales on Friday, says Trading Economics.

The euro fell 0.2% to $1.0238 against the dollar, down from $1.0259 at market close last Friday. The pound fell by 0.38% to $1.2092 from $1.2138 at the close of the previous session.

In pair with the yen, the rate of the American currency is 133.38 yen against 133.42 yen on Friday, dropping by 0.2%.

The ICE index showing the dollar’s movement against six currencies (euro, Swiss franc, yen, Canadian dollar, British pound and Swedish krona) was up 0.18% in trading. The broader WSJ Dollar Index adds 0.15%.

We previously reported that markets get restless ahead of the weekend.

Forex

Wall Street futures rise after the U.S. Fed meeting

Published

5 days ago

March 24, 2023

the preservation of the Fed's discount rate

U.S. stock index futures are rising Thursday, trading data showed. Markets are assessing the outcome of the U.S. Federal Reserve (Fed) meeting.

The Dow Jones Industrial Average (DJIA) futures rose 0.22% to 32,329 points, the NASDAQ high-tech index rose 0.96% to 12,828.5 points and the S&P 500 broad market index rose 0.48% to 3,989.75 points.

The Fed on Wednesday expectedly raised its benchmark rate by 25 basis points to 4.75-5% per year. The regulator noted that it does not expect the rate reduction this year, but allows it next year. U.S. exchanges were down 1.6% in Wednesday trading.

According to the CME Group, 55.8% of analysts now expect the Fed’s discount rate to remain unchanged in May, while 44.2% expect it to rise another 25 basis points. Thus, markets concede that the Fed may interrupt the cycle of hikes that began last March.

At the same time, shares of cryptocurrency exchange Coinbase were down 10.6% in pre-bid trading. The exchange this week received notice from U.S. authorities of an impending charge of violating laws.

Later in the trading, statistics on initial jobless claims in the U.S. for the week through March 18 will be released. Analysts forecast that the figure would increase by 5 thousand to 197 thousand applications.

Earlier we reported that the US budget deficit was $262bn in February.

Forex

ITB (International Trading Brachium) Broker Announced Its YouTube channel

Published

2 weeks ago

March 11, 2023

(Mahe, Seychelles-March 08, 2023) – ITB BROKER, LLC, an international forex broker, has announced that with our community growing, we believe that this will be the most effective medium to communicate with and so, we’re proud to announce the launch of ITB YouTube channel .

When a picture speaks a thousand words, How about a video?

Throughout our community building initiative, we strongly believe in video as our means of communication. Video has played a pivotal role in describing our futuristic services to our audience and in communicating our disruptive vision to potential traders or investors.
Over the next few weeks, we will be launching interesting videos on upcoming ITB features, bonuses, partnership or IB announcements and financial market expert interviews.
YouTube is a great place to pick up forex trading tips and learn how to use them in the real world.

There are a number of YouTubers that make great educational videos, perfect for beginners or those considering taking up forex trading. ITB group with over 10 years of financial experience provides you with useful tips and hints of forex trading via its YouTube channel.

About ITB

ITB Broker or ITBFX is a leading provider of online foreign exchange (FX) trading, CFD trading, and related services.

Founded in 2017, the company’s mission is to provide enthusiastic traders with access to the world’s largest and most liquid market by offering innovative trading tools, applying excellent trading platform, meeting strict financial standards, and striving for the best online trading experience in the market.

In addition, ITB offers educational courses on FX trading and Cryptocurrencies on academy section of ITBFX website.

Forex

U.S. budget deficit totaled $262 billion in February

Published

2 weeks ago

March 11, 2023

According to a report from the U.S. Treasury Department, the U.S. budget deficit in February was $262,434 billion compared to a $38.8 billion deficit in January. The Dow 30 also had problems.

Analysts at DailyFX suggested that the nation’s budget deficit for February was expected to be $256 billion. A year earlier, in February, the U.S. posted a budget deficit of $216,590 billion.

According to the GAO report, U.S. government spending rose 3.5 percent year over year last month to $524.548 billion, while revenue, in contrast, declined 9.5 percent to $262,114 billion.

Earlier, the U.S. edition of the Washington Post published an editorial stating that the new draft budget proposed by the Biden administration undermines U.S. national security and its ability to invest in the future, because it suggests a further growth of the U.S. national debt.

The WP editorial board noted that the new draft budget assumes a $2 trillion budget deficit, including due to the high cost of providing health insurance to the elderly of the baby boomer generation.

Earlier we reported that the EU has agreed to reduce energy consumption by 11.7% by 2030.