Dollar resumes slide as stock markets tentatively pick up

30/5/2022 4:07:00 PM

Currency: Dollar resumes slide as stock markets tentatively pick up - Reuters

Currency: Dollar resumes slide as stock markets tentatively pick up - Reuters

LONDON (May 30): The U.S. dollar resumed its slide on Monday as risk appetite across markets tentatively strengthened, supported by encouraging economic data and bets that the Federal Reserve will tighten policy at a slower pace.The dollar index - which tracks the greenback against six major rivals - is on track for its first monthly drop in five, as the safe-haven currency loses steam after a breakneck start to the year.The dollar index is on track for a more-than

A LONDON (May 30): The U.for the latest news you need to know.A SYDNEY/MILAN (May 30): World shares rose on Monday and the US dollar was pinned near five-week lows on hopes of an eventual slowdown in US monetary tightening following sharp interest rate hikes in June and July.KUALA LUMPUR (May 30): The ringgit ended higher against the US dollar on Monday, supported by increasing crude oil prices as China eased pandemic restrictions, coupled with a weakening greenback, said an analyst.

S.dollar resumed its slide on Monday as risk appetite across markets tentatively strengthened, supported by encouraging economic data and bets that the Federal Reserve will tighten policy at a slower pace.At 6pm, the local currency climbed to 4.The dollar index - which tracks the greenback against six major rivals - is on track for its first monthly drop in five, as the safe-haven currency loses steam after a breakneck start to the year.6% to its highest in more than four weeks by 0745 GMT, driven by a positive open in Europe and strong gains in Asia overnight.The dollar index is on track for a more-than 1.3775/3800.5% drop in May - although it remains up about 6% on the year.At the time of writing, the benchmark Brent crude oil price rose 0.

It was last down 0.At the time of writing, the benchmark Brent crude oil price rose 0.The pan-European STOXX 600 equity benchmark gained 0.2% on the day at 101.510.8 per barrel.Trade was likely to be light through Monday as U.7%.S.He said Asian currencies’ gains today were also backed by the decline of the US dollar as improving risk sentiment continued to unwind the greenback’s rally.The ringgit was traded mixed against a basket of major currencies.

stock and bond markets close for the Memorial Day public holiday.Data on Friday showed that U.The local note rose against the Singapore dollar to 3.9%, having rallied 6.S.consumer spending rose more than expected in April as households boosted purchases of goods and services, and the rise in inflation slowed.1962/1982 and increased vis-a-vis the Japanese yen to 3.Analysts said the encouraging data, coupled with bets on a more cautious tightening path by the Fed, was weakening the dollar.Investors have seized on hints that the Federal Reserve, once it has hiked aggressively over the next two months, might then slow its tightening.4450/4472.

World share markets rose on Monday as easing COVID-19 restrictions and new stimulus in China helped sustain last week's rebound.4450/4472.The offshore-traded Chinese yuan strengthened as much as 1% versus the dollar on the reopening news, and was last up 0.6% at 6.5192/5248 from 5.Predictably, Fed pricing suggests the Fed will shift a gear lower after the annual Jackson Hole retreat in August," he added in a note.6802 yuan per dollar."How the US consumer plays out from here and from a global perspective how the Chinese economy performs will be crucial determinants for broader investor risk appetite," currency analysts at MUFG said in a note.6978/7027 from 4.6905/6932 previously.

A slew of further economic data is due this week which could give clues on the outlook for global growth, including U.That is down from a peak of 3.S.— Bernama Advertisement.jobs numbers and Chinese Purchasing Managers' Index figures.Inflation data from Germany and Spain on Monday showed price rises accelerated in May, pushed up by soaring energy prices, ahead of euro zone inflation figures on Tuesday."US economic data appear to be slowing, ECB officials are debating even faster initial rate hikes, and front-end rate differentials have started to move in the euro's favour," noted Goldman Sachs analyst Zach Pandl.The inflation numbers helped keep a lid on the euro's gains, with the single currency last up 0.

2% at $1.07600, after earlier hitting a monthly high of $1." That underscores the importance of this week's major US data, which includes the ISM survey of manufacturing on Wednesday and the May payrolls report on Friday.07810.The safe haven yen fell back 0.4% to 127.The euro rose to a five-week high and was last up 0.

605 yen per dollar.Sterling edged up 0.1% to $1.6% last week.26350.Cryptocurrencies attempted a bounce but bitcoin, which rose 4%, is still pinned around $30,000.

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Ringgit ends higher against US dollar on rising oil pricesKUALA LUMPUR, May 30 — The ringgit ended higher against the US dollar today, supported by increasing crude oil prices as China eased pandemic restrictions, coupled with a...

Stocks rise, US dollar struggles on Fed betsSYDNEY/MILAN (May 30): World shares rose on Monday and the US dollar was pinned near five-week lows on hopes of an eventual slowdown in US monetary tightening following sharp interest rate hikes in June and July.Helping to mellow the mood was news that Shanghai authorities would cancel many restrictions on businesses resuming work from Wednesday, easing a city-wide lockdown that began two months ago.The MSCI's benchmark for global stocks rose 0.6% to its highest in more than four weeks

Ringgit ends higher against US dollar on rising oil prices — analystKUALA LUMPUR (May 30): The ringgit ended higher against the US dollar on Monday, supported by increasing crude oil prices as China eased pandemic restrictions, coupled with a weakening greenback, said an analyst.At 6pm, the local currency climbed to 4.3640/3685 versus the US dollar from Friday's close of 4.3775/3800.OANDA Asia Pacific senior market analyst Jeffrey Halley said the ringgit found further strength as oil prices improved, while some regional currencies also booked decent gains versus the greenback on Monday,

Asia stocks hit three-week top, dollar strugglesSYDNEY (May 30): Asian stocks tracked Wall Street higher on Monday while the dollar was pinned near five-week lows as investors wagered on an eventual slowdown in U.S. monetary tightening, albeit after sharp hikes in June and July.Helping to mellow the mood was news that Shanghai authorities will cancel many conditions for businesses to resume work from Wednesday, easing a city-wide lockdown that began two months ago.The Memorial Day holiday in the United States could make for a thin

Ringgit opens higher against US dollarKUALA LUMPUR (May 30): The ringgit opened higher against the US dollar on Monday (May 30) on renewed buying interest amid China's risk sentiment and ahead of the US economic data this week, said an analyst.At 9am, the local note had risen to 4.3730/3755 versus the greenback from last Friday's close at 4.3775/3800.SPI Asset Management managing partner Stephen Innes said this is a very important week packed with US economic data that would expound on the US Federal Reserve’s (Fed) near-term growth and labour market outlook

How much higher will the US dollar go?The US Federal Reserve’s monetary policy tightening cycle is likely to be short and sharp, with two 50-basis-point hikes taking place in June and July. This will take the federal funds rate (FFR) towards 1.75% by end-July, with further hikes remaining on balance as the US Fed takes a pause-and-wait approach.This approach by the Fed would be similar to the June 1999-May 2000 period of a tightening cycle, suggesting that the FFR could eventually settle around 1.75% to 2%