U.S. Dollar Rises After Retail Sales By Investing.com

Forex News


© Reuters.

Investing.com – The U.S. dollar was higher on Friday after better-than-expected retail sales and amid expectations that the Federal Reserve will raise rates next week.

The , which measures the greenback’s strength against a basket of six major currencies, rose 0.56% to 97.60 as of 10:02 AM ET (15:02 GMT).

accelerated in November, with core retail sales up 0.2%, alleviating fears of a slowing U.S. economy.

Meanwhile investors are focused on an upcoming meeting of the U.S. central bank, which is expected to increase rates, with a 79.2% chance priced in, according to Investing.com’s Fed Rate Monitor Tool.

Still, investors remain uncertain of the number of rate hikes in 2019, after dovish comments from Fed officials, who say interest rates are nearing neutral, whereby they neither stimulate or hinder the economy.

The dollar was flat against the safe-heaven Japanese yen, with inching up 0.01% to 113.63.

Meanwhile the pound was lower as Brexit woes continued. UK Prime Minister Theresa May is in Brussels seeking clarity on a backstop agreement in the Brexit draft, after surviving a vote of no confidence earlier this week. A vote on the draft agreement is expected in January. slumped 0.7% to 1.2547.

The euro was pushed down by the stronger dollar, with falling 0.6% to 1.1285.

Elsewhere, slumped 0.9% to 0.6793 while was down 0.9% to 0.7161. The Canadian dollar decreased with up 0.2% to 1.3386.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Articles You May Like

Dollar weaker as signs of trade progress take shine off safe-havens By Reuters
Japan’s Wagyu Beef Increasingly Going Global
Coinsquare Acquires StellarX | Canadian Exchange Takes Over
Could Alita Be Hollywood’s Breakthrough Manga Movie?
Food Combinations That Are Digestively Incompatible

Leave a Reply

Your email address will not be published. Required fields are marked *