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Al Etihad
2 days ago
- Business
- Al Etihad
Dollar slips before inflation report, US-China tariff deadline
11 Aug 2025 11:52 SINGAPORE (Reuters) The US dollar extended declines on Monday as investors watched for the outcome of events due this week, from Tuesday's key July US CPI data and deadline for Washington and Beijing to strike a deal tariffs, along with a Russia-US summit on dollar index fell 0.2% to 98.073 after last week's fall of 0.4%. Against the yen, it traded at 147.46 , or 0.20% weaker than late US levels, with Japanese markets closed for the Mountain Day markets surged, with bitcoin rising 3% to $121,909.06, not far from its July 14 record of $123,153.22, after President Donald Trump's executive order on Thursday freed up cryptocurrency holdings in US retirement was up 2.1% at $4,307.25, after touching its highest since December 2021 earlier in the talks were also in focus as Trump's August 12 deadline for a deal between the US and China neared, particularly on chip the US and China seeking to close a deal averting triple-digit goods tariffs, a US official told Reuters that chip makers Nvidia and AMD agreed to allocate 15% of China sales revenues to the US government, aiming to secure export licences for offshore yuan fluctuated between gains and losses, trading at 7.184 to the dollar, after weekend data showed China's producer prices fell more than expected in July, while consumer prices were Australian dollar fetched $0.6526, trading flat ahead of a rate decision by the central bank on Tuesday, in which it is widely expected to cut interest rates by 25 basis points to 3.60%, after second-quarter inflation missed expectations and the jobless rate hit a 3-1/2-year kiwi was little changed at $0.59545, while the British pound traded at $1.3465, up 0.1% so far on the personnel moves at key US monetary policy institutions were also in Treasury Secretary Scott Bessent said the new Federal Reserve chair should be someone "who can examine the whole organisation" as the Fed's mission covered many things outside of monetary policy and put its independence at risk, Japan's Nikkei newspaper said. Among candidates the Trump administration is interviewing to lead the Bureau of Labor Statistics is E.J. Antoni, chief economist at the conservative Heritage Foundation, the Wall Street Journal said, citing a senior administration official.
CNBC
2 days ago
- Business
- CNBC
Dollar steady before inflation report, U.S.-China tariff deadline
The U.S. dollar stabilized on Monday after last week's losses, as markets await Tuesday's key U.S. CPI report for July and focus on developments in trade talks between Washington and Beijing ahead of a deadline to avoid the imposition of higher tariffs. The dollar index was flat at 98.25 after a 0.4% decline last week. Against the yen, the dollar was unchanged at 147.685 yen, with Japanese markets closed for the Mountain Day holiday. Trade talks were in focus as Trump's August 12 deadline for a deal between the U.S. and China loomed, particularly around chip policy. "The market has fully priced in the idea that we're going to get an extension," said Chris Weston, head of research at Pepperstone Group Ltd in Melbourne, adding that another 90-day truce was most likely. With the U.S. and China seeking to close a deal that would avoid imposing triple-digit tariffs on each other's goods, the Financial Times reported on Sunday that chip manufacturers Nvidia and AMD agreed to allocate 15% of their revenues from sales in China to the U.S. government under an arrangement to obtain export licences for the semiconductors. The report follows a warning that Nvidia's H20 chips pose security concerns for China, a social media account affiliated with the country's state media said on Sunday. "I don't know if that's going to be a good thing or a bad thing, but if it puts closure on the matter it's not a bad outcome," Weston said. "If this is Trump says 15% and we'll call it a day, that may not be too bad." The offshore yuan fluctuated between gains and losses after data on the weekend showed China's producer prices fell more than expected in July, while consumer prices were unchanged. The Australian dollar fetched $0.6515, down 0.2% in early trade ahead of a rate decision from the Reserve Bank of Australia on Tuesday, where the central bank is widely expected to cut interest rates by 25 basis points to 3.60% after inflation for the second quarter missed expectations and the jobless rate hit a 3-1/2-year high. The kiwi last traded at $0.59455, down 0.13%, while the British pound traded at $1.34405, down 0.1% so far on the day. In crypto markets, bitcoin rose 0.7% to $119,154, not far from its previous record, while ether was up 1.1% at $4,267, after reaching its highest since December 2021 on Sunday. Elsewhere, personnel moves at key U.S. monetary policy institutions were also in focus. U.S. Treasury Secretary Scott Bessent said the new Federal Reserve chair should be someone "who can examine the whole organization" as the Fed's mission has included so many things outside of monetary policy and has put its independence at risk, Japan's Nikkei newspaper reported. The Trump administration was also interviewing candidates to lead the Bureau of Labor Statistics including E.J. Antoni, chief economist at the conservative Heritage Foundation, The Wall Street Journal reported on Sunday, citing a senior administration official.
Business Recorder
2 days ago
- Business
- Business Recorder
Dollar steady before inflation report, US-China tariff deadline
SINGAPORE: The US dollar stabilised on Monday after last week's losses, as markets await Tuesday's key US CPI report for July and focus on developments in trade talks between Washington and Beijing ahead of a deadline to avoid the imposition of higher tariffs. The dollar index was flat at 98.25 after a 0.4% decline last week. Against the yen, the dollar was unchanged at 147.685 yen , with Japanese markets closed for the Mountain Day holiday. Trade talks were in focus as Trump's August 12 deadline for a deal between the U.S. and China loomed, particularly around chip policy. 'The market has fully priced in the idea that we're going to get an extension,' said Chris Weston, head of research at Pepperstone Group Ltd in Melbourne, adding that another 90-day truce was most likely. With the U.S. and China seeking to close a deal that would avoid imposing triple-digit tariffs on each other's goods, the Financial Times reported on Sunday that chip manufacturers Nvidia and AMD agreed to allocate 15% of their revenues from sales in China to the U.S. government under an arrangement to obtain export licences for the semiconductors. The report follows a warning that Nvidia's H20 chips pose security concerns for China, a social media account affiliated with the country's state media said on Sunday. 'I don't know if that's going to be a good thing or a bad thing, but if it puts closure on the matter it's not a bad outcome,' Weston said. 'If this is Trump says 15% and we'll call it a day, that may not be too bad.' The offshore yuan fluctuated between gains and losses after data on the weekend showed China's producer prices fell more than expected in July, while consumer prices were unchanged. The Australian dollar fetched $0.6515 , down 0.2% in early trade ahead of a rate decision from the Reserve Bank of Australia on Tuesday, where the central bank is widely expected to cut interest rates by 25 basis points to 3.60% after inflation for the second quarter missed expectations and the jobless rate hit a 3-1/2-year high. The kiwi last traded at $0.59455 , down 0.13%, while the British pound traded at $1.34405, down 0.1% so far on the day. In crypto markets, bitcoin rose 0.7% to $119,154, not far from its previous record, while ether was up 1.1% at $4,267, after reaching its highest since December 2021 on Sunday. Elsewhere, personnel moves at key U.S. monetary policy institutions were also in focus. U.S. Treasury Secretary Scott Bessent said the new Federal Reserve chair should be someone 'who can examine the whole organisation' as the Fed's mission has included so many things outside of monetary policy and has put its independence at risk, Japan's Nikkei newspaper reported. The Trump administration was also interviewing candidates to lead the Bureau of Labor Statistics including E.J. Antoni, chief economist at the conservative Heritage Foundation, The Wall Street Journal reported on Sunday, citing a senior administration official.
New Straits Times
2 days ago
- Business
- New Straits Times
Dollar steady before inflation report, US-China tariff deadline
SINGAPORE: The US dollar stabilised on Monday after last week's losses, as markets await Tuesday's key US CPI report for July and focus on developments in trade talks between Washington and Beijing ahead of a deadline to avoid the imposition of higher tariffs. The dollar index was flat at 98.25 after a 0.4 per cent decline last week. Against the yen, the dollar was unchanged at 147.685 yen, with Japanese markets closed for the Mountain Day holiday. Trade talks were in focus as Trump's Aug 12 deadline for a deal between the US and China loomed, particularly around chip policy. "The market has fully priced in the idea that we're going to get an extension," said Chris Weston, head of research at Pepperstone Group Ltd in Melbourne, adding that another 90-day truce was most likely. With the US and China seeking to close a deal that would avoid imposing triple-digit tariffs on each other's goods, the Financial Times reported on Sunday that chip manufacturers Nvidia and AMD agreed to allocate 15 per cent of their revenues from sales in China to the US government under an arrangement to obtain export licences for the semiconductors. The report follows a warning that Nvidia's H20 chips pose security concerns for China, a social media account affiliated with the country's state media said on Sunday. "I don't know if that's going to be a good thing or a bad thing, but if it puts closure on the matter it's not a bad outcome," Weston said. "If this is Trump says 15 per cent and we'll call it a day, that may not be too bad." The offshore yuan fluctuated between gains and losses after data on the weekend showed China's producer prices fell more than expected in July, while consumer prices were unchanged. The Australian dollar fetched US$0.6515, down 0.2 per cent in early trade ahead of a rate decision from the Reserve Bank of Australia on Tuesday, where the central bank is widely expected to cut interest rates by 25 basis points to 3.60 per cent after inflation for the second quarter missed expectations and the jobless rate hit a three-and-a-half-year high. The kiwi last traded at US$0.5946, down 0.13 per cent, while the British pound traded at US$1.3441, down 0.1 per cent so far on the day. In crypto markets, bitcoin rose 0.7 per cent to US$119,154.00, not far from its previous record, while ether was up 1.1 per cent at US$4,267.00, after reaching its highest since December 2021 on Sunday. Elsewhere, personnel moves at key US monetary policy institutions were also in focus. US Treasury Secretary Scott Bessent said the new Federal Reserve chair should be someone "who can examine the whole organisation" as the Fed's mission has included so many things outside of monetary policy and has put its independence at risk, Japan's Nikkei newspaper reported. The Trump administration was also interviewing candidates to lead the Bureau of Labor Statistics including E.J. Antoni, chief economist at the conservative Heritage Foundation, The Wall Street Journal reported on Sunday, citing a senior administration official.
Economic Times
2 days ago
- Business
- Economic Times
Dollar steady before inflation report, US-China tariff deadline
The U.S. dollar stabilised on Monday after last week's losses, as markets await Tuesday's key U.S. CPI report for July and focus on developments in trade talks between Washington and Beijing ahead of a deadline to avoid the imposition of higher tariffs. ADVERTISEMENT The dollar index was flat at 98.25 after a 0.4% decline last week. Against the yen, the dollar was unchanged at 147.685 yen, with Japanese markets closed for the Mountain Day holiday. Trade talks were in focus as Trump's August 12 deadline for a deal between the U.S. and China loomed, particularly around chip policy. "The market has fully priced in the idea that we're going to get an extension," said Chris Weston, head of research at Pepperstone Group Ltd in Melbourne, adding that another 90-day truce was most likely. With the U.S. and China seeking to close a deal that would avoid imposing triple-digit tariffs on each other's goods, the Financial Times reported on Sunday that chip manufacturers Nvidia and AMD agreed to allocate 15% of their revenues from sales in China to the U.S. government under an arrangement to obtain export licences for the semiconductors. The report follows a warning that Nvidia's H20 chips pose security concerns for China, a social media account affiliated with the country's state media said on Sunday. ADVERTISEMENT "I don't know if that's going to be a good thing or a bad thing, but if it puts closure on the matter it's not a bad outcome," Weston said. "If this is Trump says 15% and we'll call it a day, that may not be too bad." ADVERTISEMENT The offshore yuan fluctuated between gains and losses after data on the weekend showed China's producer prices fell more than expected in July, while consumer prices were unchanged. The Australian dollar fetched $0.6515, down 0.2% in early trade ahead of a rate decision from the Reserve Bank of Australia on Tuesday, where the central bank is widely expected to cut interest rates by 25 basis points to 3.60% after inflation for the second quarter missed expectations and the jobless rate hit a 3-1/2-year high. ADVERTISEMENT The kiwi last traded at $0.59455, down 0.13%, while the British pound traded at $1.34405, down 0.1% so far on the day. In crypto markets, bitcoin rose 0.7% to $119,154, not far from its previous record, while ether was up 1.1% at $4,267, after reaching its highest since December 2021 on Sunday. ADVERTISEMENT Elsewhere, personnel moves at key U.S. monetary policy institutions were also in focus. U.S. Treasury Secretary Scott Bessent said the new Federal Reserve chair should be someone "who can examine the whole organisation" as the Fed's mission has included so many things outside of monetary policy and has put its independence at risk, Japan's Nikkei newspaper reported. The Trump administration was also interviewing candidates to lead the Bureau of Labor Statistics including E.J. Antoni, chief economist at the conservative Heritage Foundation, The Wall Street Journal reported on Sunday, citing a senior administration official.
