• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Dollar set for first winning week in three with Fed in focus

September 10, 2021 by David Barret Leave a Comment

September 10, 2021

By Kevin Buckland

TOKYO (Reuters) – The dollar headed for its first winning week in three on Friday after rebounding from a payrolls-induced sell-off, as investors continued to ponder the timing of a tapering of Federal Reserve stimulus.

The dollar index, which gauges the greenback against six major peers, was little changed on the day at 92.541, remaining on course for a 0.49% weekly rise.

Last Friday, it sank to the lowest since Aug. 3 after data showed the U.S. economy created the fewest jobs for seven months, reducing the odds of an imminent reduction of the Fed’s asset-purchase programme.

Since then, a number of officials have come out to suggest a taper is still likely this year though, including Fed Governor Michelle Bowman, who said overnight that the weak August labour report won’t throw the central bank off course.

Data on Thursday showed that the number of Americans filing new claims for jobless benefits fell last week to the lowest level in nearly 18 months, offering more evidence that job growth was being hindered by labor shortages rather than cooling demand for workers.

“The Fed looks set to taper later this year, underscored by recent comments this week,” Mark McCormick, global head of FX strategy at TD Securities, wrote in a research note.

However, even with the trend toward monetary policy becoming less accomodative globally, financial conditions remain ultra-loose, which “binds how much room the USD has to run and favors selling rallies,” McCormick said.

The euro was flat at $1.18235 on Friday, on track for a 0.47% decline this week.

The single currency got some small measure of support overnight, after the European Central Bank said it would trim emergency bond purchases over the coming quarter, as widely expected.

In the past two quarters, the bank has bought around 80 billion euros worth of debt each month. It provided no numerical guidance for the three months ahead, but analysts had predicted before the meeting that purchases would fall to between 60 billion and 70 billion euros in those months.

“It was a big event for economists, not so much for traders,” Chris Weston, head of research at broker Pepperstone in Melbourne, wrote in a note to clients. “The volatility was not there.”

Euro support at $1.18 “needs to give way for shorts to get any real traction here,” he said.

The dollar was little changed both on the day and for the week at 109.71 yen, still meandering in the middle of its range of the past two months.

The Aussie dollar slipped 0.07% to $0.7363, heading for a 1.16% slide this week.

(Reporting by Kevin Buckland; Editing by Ana Nicolaci da Costa)

Source Link Dollar set for first winning week in three with Fed in focus

David Barret
David Barret

Related posts:

  1. Qualcomm says it will supply chip for new Renault electric vehicle
  2. China’s Liu He says support for private business has not changed
  3. Standard Chartered arranges $1.1 billion financing for Angola water project
  4. Phone blackout imposed on Nigerian state amid crackdown on kidnappers

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

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

Primary Sidebar

  • Deer Can Learn Commands Like “Come”, But The Most Restless Ones In Class Take Longer To Learn
  • Is This Evidence Of The “Oldest Human Habit”? A New Study Has Different Ideas
  • Winds On Mars Are Faster Than Thought, Analysis Of 1,039 Dust Devils Shows
  • 400,000-Year-Old Fossil Shows Butchering Elephants Helped Early Humans To Supersize Their Tools
  • Ignore The Nonsense: Here Are The Real Images Of Interstellar Object 3I/ATLAS
  • This Rare Spider Is Half-Female, Half-Male Split Down The Middle – Oh, And A New Species
  • Comet 3I/ATLAS Caught On Camera From Mars Orbit: “This Was A Challenge”
  • JWST Captures Best Image Yet Of A Supergiant Star Before It Went Supernova
  • Isaac Newton’s “Apocalypse Calculations” Predicted A World-Changing Event In 2060
  • 2024-25 Saw The Most US Kids Dying From Flu Since The Swine Flu Pandemic
  • Technology, Tactics, Or Just Toughing It Out: How Exactly Did Neanderthals Take Down Mammoths, Anyway?
  • Nobel Prize In Chemistry Awarded For New Material Breakthrough
  • Interstellar Object 3I/ATLAS May Be A 10-Billion-Year-Old Time Capsule From An Earlier Age Of The Universe
  • Restless Leg Syndrome Might Increase Someone’s Risk Of Parkinson’s Disease
  • Behold! The World’s First Butt-Drag Fossil, Committed By A Rock Hyrax 126,000 Years Ago
  • Norovirus Is Rife On US Cruise Ships – 2025 Hits 18-Year Outbreak High
  • New Species Of Tiny Glowing Lanternshark And Ghost-Like Crab Discovered In Deep Sea
  • Hairy Frog: The Wolverine Frog That Breaks Its Bones To Make Claws When Threatened
  • Move Over, Footballfish – This Deep-Sea Freak Might Just Be The Most Cursed Creature In The Ocean
  • The Strongest Magnetic Field On Earth Is Located In The US. It Measures 1,000,000 Gauss
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version