The latest index reading from the Conference Board was 98 in May, well above the 85.7 seen in April and the 87.1 economiss had expected. The expectations index surged off its 13-year low seen in April, reaching 72.8 May, far above the 55.4 seen the month prior. US President Donald Trump said Tuesday he welcomed the European Union, after he agreed to delay a 50% tariff on goods from the bloc until July 9.“I have just been informed that the E.U. The S&P 500 surged on Tuesday, driven by a broad-based rally that saw over 90% of its constituent stocks trading in the green. All 11 sectors of the benchmark index posted gains, signaling widespread market strength.
Investors appeared to shrug off mixed signals from global markets, focusing instead on easing inflation expectations and optimism around AI-driven growth. The table below shows the percentage change of British Pound (GBP) against listed major currencies today. That’s good news for countries relying on imports of commodities, most of which are traded in dollars, as well as nations paying down dollar-denominated debt. But American businesses and consumers could end up paying more for imported goods. However, on Friday, President Trump erased much of the optimism that had buoyed the Greenback and global markets following recent positive developments on the trade front, including the US-China trade truce and the US-UK agreement.
ABC News Live
On Monday, several of the currencies that have gained the most against the dollar during this period were again moving higher. The euro gained 1.3% against the greenback, while the Japanese yen vantage fx and Swiss franc also gained ground. Andy Laperriere, head of U.S. policy at Piper Sandler, raised similar concerns about a change at the Fed in a note to clients Monday. EU says threats should not guide trade talks as Trump says he wants tariffs of 50% on European goods as soon as 1 June. If there is pressure on Powell to leave office, the markets will start to wonder about the Fed’s credibility, something which is seen as crucial.
“Rumors of the US dollar’s demise continue to be greatly exaggerated,” James Athey, investment director at Abrdn, an asset manager, told CNN. Nippon Steel is considering offering a so-called golden share in US Steel (X) to the US government in order to finalise its long-sought acquisition of the iconic American firm, Japan’s Nikkei newspaper reported on Tuesday. Deliberations over the idea, which would give Washington the power to veto important management matters, were also reported by Japan’s Kyodo news agency.
- The Financial Times thinks this could initially bolster the USD due to anticipated fiscal stimulus and tax policies.
- The dollar was rising in the autumn in the run-up to the 2024 presidential election off the back of relatively strong US economic growth, and continued to strengthen after Trump’s victory in November on hopes he might extend that trend.
- Ms Foley says that while other currencies may become more important, the dollar won’t lose its number one status any time soon, although one Federal Reserve official suggested last year that the US can no longer take this for granted.
- But in calculating the tariffs, he looked at trade deficits only in goods, not services in which the U.S. excels.
- Kroger (KR), Costco (COST) and Anheuser-Busch (BUD) all report earnings on Thursday.
British Pound PRICE Today
- Analysts at JP Morgan predict GBP/USD to experience fluctuations throughout 2025.
- Nvidia’s (NVDA) revenue from China is set to hit $6.2 billion in the AI chipmaker’s first quarter, accounting for over 14% of total revenue, according to consensus estimates from Wall Street analysts tracked by Bloomberg.
- However, the stock, which has been a darling of Wall Street this year, fell after the news.
- The losses on Friday continued even after Treasury Secretary Scott Bessent said on Bloomberg Television’s Wall Street Week with David Westin that the US could strike several large trade deals in the next couple of weeks.
No other currency or other asset, like yuan or bitcoin or gold, is vast enough to handle all the demand. That’s because with very significant market moves, there’s always the possibility of profit taking. For instance, if investors decide to sell euros while they’re trading strongly, that could lead to the euro falling and the dollar rising. The first time ordinary Americans might notice a weaker dollar is when they go abroad, as their money will not go as far. While foreign tourists in the US will find their currency will buy them more.
Swing Trading: Capturing Multi-Day Price Movements
The company recorded 75,869 deliveries of its SU7 sedan during the period. Its Internet of Things division, which sells products ranging from home appliances to wearable tech, was a strong performer with revenue growth of nearly 60% from a year earlier, the report further added. Steel for $55 per share, sources familiar with the matter told CNBC’s David Faber, according to a report on the website. President Donald Trump cleared Nippon’s bid for US Steel on Friday, referring to the deal as a “partnership.” Trump said Nippon will invest $14 billion of investment over the next 14 months. They “aren’t condemning what Trump is doing and how he is operating and how he is handling issues like climate change and demolishing the judiciary,” Daan Spaargaren, senior strategist for responsible investing, said in an interview.
The USD is the world’s primary reserve currency, meaning central banks hold large reserves of it. High demand for U.S. dollars in global trade and finance keeps it strong. Recent trade policies, economic growth differentials, and monetary policy stances have favoured the US dollar in recent months, causing the pair to devaluate over 6% in 2024. With much of world’s goods exchanged in dollars, demand for the currency has stayed strong even as the U.S. has doubled federal debt in a dozen years and does other things that would normally send investors fleeing. That has allowed the U.S. government, consumers and businesses to borrow at unnaturally low rates, which has helped speed economic growth and lift standards of living. A report from Standard Chartered released in January also indicates a potential for further weakening of the Euro against the US dollar.
Read More News on
As any American traveler abroad how to invest in index funds knows, you can buy more with a stronger dollar and less with a weaker one. Now the price of French wine and South Korean electronics and a host of other imports could cost more not only due to tariffs but a weaker currency, too. The value of all currencies goes up and down influenced by many factors such as inflation expectations and central bank policies.
US Dollar Index steadies near 99.50 ahead of FOMC Meeting Minutes
Willard, of Handelsbanken, points to cooling US labor and housing markets as two factors likely to keep headline inflation in check, even if the price of imports rises. A number of up-and-coming economies have debts denominated in dollars, and a weaker dollar can make servicing those debts less expensive. For countries that depend on commodity imports, a weaker dollar means they have to pay less for essentials like wheat and crude oil. The US dollar is barreling toward a 3.7% loss this month against a basket of six major currencies how to trade etfs in what would be it worst monthly performance in a year.
Both treatments must be started within five days of COVID symptoms appearing and are given twice daily for five days, with Merck’s being four pills each time and Pfizer’s being three pills each. CDC data shows that those aged 75 and older currently have the highest rate of COVID-19 deaths at 4.66 per 100,000. This is why the current recommendation for those aged 65 and older is to receive two doses of the updated COVID vaccine six months apart. The experts said there are a few reasons why people might still be dying from the virus, including low vaccination uptake, waning immunity and not enough people accessing treatments. More than five years after the first cases of COVID-19 were detected in the United States, hundreds of people are still dying every week. The 14-day Relative Strength Index (RSI) rises to near 70.00, indicating a strong bullish momentum.
“It would certainly undermine the role of the dollar as a reserve currency that is used in transactions all over the world. And Americans — many people — would lose their jobs and certainly their borrowing costs would rise,” Treasury Secretary Janet Yellen told CNN in January. The People’s Bank of China has cut key interest rates on mortgages and on its lending to banks in recent months to help boost demand for credit.
Hiring remains solid, having notched its 32nd consecutive month of growth in August. An upbeat earnings report by Nvidia Corp. (NVDA) would bode well for a rally in US equities as investors have about $7 trillion parked in cash funds, according to BBVA strategists, as per a Bloomberg report. Institutional positioning in the US technology sector is “undemanding” with hedge funds and mutual funds still substantially underweight, strategist Michalis Onisiforou said. Exposure of trend-following Commodity Trading Advisors (CTA) to the broader stock market is also neutral, while volatility control funds have plenty of room to add to risk, he said.
“The independence of central banks is seen as critical to ensure long-term price stability, ringfencing policymakers from short-term political pressures,” says Susannah Streeter, head of money and markets at Hargreaves Lansdown. Oil slipped as the looming prospect of another major OPEC+ production increase overshadowed easing trade tensions between the European Union and the US. West Texas Intermediate fell 1% to settle below $61 a barrel after a quiet session on Monday due to holidays in London and New York. The dollar advanced, making commodities priced in the currency less attractive. Oil has trended lower since mid-January as OPEC and its allies have pushed to restore idled supply faster than the market had expected, just as the global trade war threatens demand. Prices have largely stabilized near $61 as traders await the next output move from the cartel, due in the coming days.
