Latest news with #GlobalPurchasingManagersIndex
Business Standard
23-07-2025
- Business
- Business Standard
Dollar index attempts recovery from 2-week low
The dollar index is seen incurring mild gains although it continues to linger around a two week low on Wednesday. US President Donald Trump reportedly announced a trade deal with Japan that includes a 15% tariff on Japanese exports to the US. As part of the agreement, Japan will invest $550 billion in the US and open its markets to key American products. However, Trumps constant criticism about the Powell and investors doubts surrounding independence of Fed is keeping sentiments tepid. US Treasury yields continued to drop as the 10-year Treasury note slumps over five basis points (bps) to 4.332%, dragging on the greenback. The US Dollar Index (DXY), which tracks the greenbacks performance against a basket of six currencies, is near a two week low of 97.25. Investors now brace for US S&P Global Purchasing Managers Index (PMI) data for July, due this week and FOMC statement next week for further clarity on Federal stance.
Business Standard
23-05-2025
- Business
- Business Standard
GBPUSD hits fresh 3-year high
The Great Britain pound accelerated gains to climb over half a percent on the day against the dollar on Friday following better than expected economic data. The Office for National Statistics (ONS) reported that Retail Sales, a key measure of consumer spending, rose at a robust pace of 1.2% on the month, compared to estimates of 0.2% and the 0.1% growth seen in March, revised lower from 0.4%. On year, the consumer spending measure grew by 5%, faster than expectations of 4.5% and the prior release of 2.6%. Besides, flash UK S&P Global Purchasing Managers Index (PMI) data for May came in better-than-expected. Weakness in the dollar overseas also contributed to gains in the counter. GBPUSD pair hit a fresh three year high of $1.3494, its highest level since February 2022. On the NSE, GBPINR pair edged lower at 115.10 amid broad strength in INR.
