Latest news with #DXYDollarIndex
BusinessToday
2 days ago
- Business
- BusinessToday
Ringgit To Find Support From Stable Domestic Economy And Softer USD
The ringgit strengthened this week, trading within the RM4.23–RM4.24/USD range. This performance came as a weaker-than-expected US jobs report and a series of political headlines pressured the US dollar, causing it to lose ground. The catalyst for the ringgit's rally was Friday's soft payrolls data, which drove the DXY Dollar Index below the 99.0 mark. This prompted markets to re-evaluate the US Federal Reserve's trajectory, with traders now pricing in expectations for three 25 basis point rate cuts this year. Adding to the pressure on the greenback was a series of political and economic headlines. President Trump's reported firing of the Bureau of Labor Statistics (BLS) chief, the resignation of Federal Reserve Governor Kugler, and an ongoing tariff dispute between the US and India injected a fresh 'risk premium' into US assets. Furthermore, optimism surrounding a potential Ukraine-Russia truce and dovish comments from Fed officials hinting at weakening labor conditions further weighed on the USD. Market attention is now turning to upcoming US inflation figures. Persistent price pressures could delay the Fed's expected rate cuts. Consensus forecasts predict that core Consumer Price Index (CPI) will rise by 0.3% month-on-month (from 0.2%), while the Producer Price Index (PPI) is expected to increase by 0.2% (from 0.0%). If inflation proves to be hotter than expected, investors may be forced to once again reassess the Fed's policy path. In addition to economic data, traders will continue to monitor Fedspeak and new tariff announcements for clues on future market direction. President Trump's proposed tariffs on semiconductors and pharmaceuticals are likely to continue to dampen sentiment in riskier assets, while pressure on BRICS nations and signs of strain in the US-China trade détente add to the uncertainty. Despite the external uncertainties, Kenanga Research expects the ringgit to find support from domestic economic stability and the softer US dollar, likely holding near its current levels. Technically, the USD/MYR pair is hovering near its 5-day Exponential Moving Average (EMA) at 4.23. The immediate support level is at 4.23 (S1), with resistance at 4.24 (R1).
Yahoo
12-04-2025
- Business
- Yahoo
Dollar Slides to Multiyear Lows as U.S.-China Tariff War Escalates
The dollar fell sharply in early European trading, hitting multiyear lows against the Swiss franc and the euro and extending overnight losses as the impact of U.S. President Trump's tariff war continued to hit the greenback. The DXY Dollar Index against a basket of major currencies fell to a three-year low of 99.314 in European morning trade, sliding to a 10-year low against the Swiss Franc and a three-year low against the euro. The Fox Host Whose Show Caught Trump's Attention During Tariff Meltdown Wall Street Sounds an Alarm: The Economy Is at Risk Thanks to Tariffs The Simple Explanation for This Week's Treasury Market Mayhem How Nintendo Is Navigating Tariff Chaos With Secret Shipments and New Factories 'From Anxious to Petrified': Consumer Sentiment Plunges Further The dollar remains 'highly vulnerable' to further selling, ING currency analyst Francesco Pesole said in a note. 'The dollar collapse is working as a barometer of 'sell America' at the moment.' The precipitous slide in the dollar comes after the White House said Thursday that tariffs imposed on China add up to 145%, not the 125% previously indicated. China on Friday in turn raised its tariffs on U.S. goods to 125% from 84% as the trade war between the world's two largest economies escalated. China's Ministry of Commerce said the U.S. tariffs were 'typical unilateral bullying' that seriously violated the rules of the World Trade Organization. A fall in U.S. inflation in March on Thursday gave investors another reason to sell the dollar. That report 'does tilt the Federal Reserve towards further cuts at the margin, but data dependency is no good when you can no longer rely on the prior trajectory for clues as to the future,' Ballinger Group forex analyst Kyle Chapman said in a note after U.S. inflation eased to 2.4% year-on-year in March, below the 2.6% expected by economists in a WSJ survey. Write to Adrian Kerr at Four Questions You Should Ask to Combat the Market Chaos Market Rout Shatters Long-Held Beliefs on Investing General Motors to Suspend Production, Lay Off 500 at Electric Vehicle Plant in Ontario Can Trump's Tariff Offensive Deliver New American Jobs? How to Play the Biotech Meltdown in the Age of RFK Jr. and Tariffs
Wall Street Journal
11-04-2025
- Business
- Wall Street Journal
Dollar Slides to Multiyear Lows as U.S.-China Tariff War Escalates
The dollar fell sharply in early European trading, hitting multiyear lows against the Swiss franc and the euro and extending overnight losses as the impact of U.S. President Trump's tariff war continued to hit the greenback. The DXY Dollar Index against a basket of major currencies fell to a three-year low of 99.314 in European morning trade, sliding to a 10-year low against the Swiss Franc and a three-year low against the euro.
