Latest news with #UtoShinohara
Business Recorder
19 hours ago
- Business
- Business Recorder
Dollar higher after mixed US data
NEW YORK: The US dollar pared losses to trade firmer on the yen on Tuesday, after economic data showed American consumers growing more cautious as trade and inflation uncertainty lingered ahead of the Federal Reserve's decision on interest rate later this week. US retail sales were softer than expected in May, but consumer spending remained supported by solid wage growth. The dollar initially softened on the print, but quickly reversed those loses as the market digested the data's mixed picture, removing strength the yen had gained following the Bank of Japan's (BOJ) rate decision earlier. 'The weaker headline retail sales release and last week's softer CPI print add more fuel to rate cut speculation, including calls from (US President) Trump for a 100-bps cut,' said Uto Shinohara, senior investment strategist at Mesirow Currency Management. 'However, the full inflationary impact of tariffs has yet to pass through.' Broader risk sentiment remained fragile with the Israel-Iran conflict entering its fifth day. The BOJ delivered little surprise to markets at the conclusion of its two-day monetary policy meeting, as it stood pat on rates and laid out a new plan to decelerate the pace of its balance sheet drawdown next year in the face of rising risks such as the Middle East conflict and US tariffs. The yen swung between losses and gains after the decision, turning negative during Governor Kazuo Ueda's press conference, with the dollar last up 0.25% on the yen at 145.17 yen. Japanese Prime Minister Shigeru Ishiba and US President Donald Trump have yet to reach a trade deal. Developments in the Middle East are keeping the mood tense, with Trump on Tuesday saying he wanted a 'real end' to the nuclear dispute with Iran, and indicating he may send senior American officials to meet with the Islamic Republic. It follows news on Monday from the White House that Trump left the Group of Seven summit in Canada a day early due to the situation in the Middle East, as the president has requested that the National Security Council be prepared in the situation room. 'The market is shifting its focus back and forth to the war in the Middle East and the trade war,' said Adam Button, chief currency analyst, ForexLive. 'So, I think the market struggles to keep the focus on economic data, even with the Fed coming tomorrow.' The escalations between Israel and Iran have sent the price of Brent crude higher. Elsewhere, the euro was down 0.37% at $1.1516. The pound was last down 0.5% against the dollar at $1.3506. Trump signed an agreement on Monday formally lowering some tariffs on imports from Britain as the countries continue working toward a formal trade deal. The risk-sensitive Australian dollar was down 0.22% at US$0.65103. Meanwhile, against a basket of currencies, the dollar rose 0.3% to 98.49. The Federal Reserve's policy decision on Wednesday is taking centre stage for FX market watchers. Expectations are for the central bank to keep rates on hold, though the focus will be on any guidance regarding the rate outlook.
CNA
a day ago
- Business
- CNA
Dollar trades higher after mixed US data, but Mideast conflict keeps mood tense
NEW YORK/LONDON :The U.S. dollar pared losses to trade firmer on the yen on Tuesday, after economic data showed American consumers growing more cautious as trade and inflation uncertainty lingered ahead of the Federal Reserve's decision on interest rate later this week. U.S. retail sales were softer than expected in May, but consumer spending remained supported by solid wage growth. The dollar initially softened on the print, but quickly reversed those loses as the market digested the data's mixed picture, removing strength the yen had gained following the Bank of Japan's (BOJ) rate decision earlier. "The weaker headline retail sales release and last week's softer CPI print add more fuel to rate cut speculation, including calls from (U.S. President) Trump for a 100-bps cut," said Uto Shinohara, senior investment strategist at Mesirow Currency Management. "However, the full inflationary impact of tariffs has yet to pass through." Broader risk sentiment remained fragile with the Israel-Iran conflict entering its fifth day. The BOJ delivered little surprise to markets at the conclusion of its two-day monetary policy meeting, as it stood pat on rates and laid out a new plan to decelerate the pace of its balance sheet drawdown next year in the face of rising risks such as the Middle East conflict and U.S. tariffs. The yen swung between losses and gains after the decision, turning negative during Governor Kazuo Ueda's press conference, with the dollar last up 0.25 per cent on the yen at 145.17 yen. Japanese Prime Minister Shigeru Ishiba and U.S. President Donald Trump have yet to reach a trade deal. Developments in the Middle East are keeping the mood tense, with Trump on Tuesday saying he wanted a "real end" to the nuclear dispute with Iran, and indicating he may send senior American officials to meet with the Islamic Republic. It follows news on Monday from the White House that Trump left the Group of Seven summit in Canada a day early due to the situation in the Middle East, as the president has requested that the National Security Council be prepared in the situation room. "The market is shifting its focus back and forth to the war in the Middle East and the trade war," said Adam Button, chief currency analyst, ForexLive. "So, I think the market struggles to keep the focus on economic data, even with the Fed coming tomorrow." The escalations between Israel and Iran have sent the price of Brent crude higher. Elsewhere, the euro was down 0.37 per cent at $1.1516. The pound was last down 0.5 per cent against the dollar at $1.3506. Trump signed an agreement on Monday formally lowering some tariffs on imports from Britain as the countries continue working toward a formal trade deal. The risk-sensitive Australian dollar was down 0.22 per cent at US$0.65103. Meanwhile, against a basket of currencies, the dollar rose 0.3 per cent to 98.49. The Federal Reserve's policy decision on Wednesday is taking centre stage for FX market watchers. Expectations are for the central bank to keep rates on hold, though the focus will be on any guidance regarding the rate outlook. "The implications for the Federal Reserve's policy trajectory are mixed, and likely won't become clear for a few months yet," said Karl Schamotta, chief market strategist, Corpay. "At the moment, there's little risk to waiting before launching another round of rate cuts, so we expect an incrementally-hawkish message to emerge from tomorrow's meeting." Meanwhile, investors are also looking ahead to other central bank decisions including from the Bank of England and Sweden's Riksbank later this week to guide the next move in markets. Currency bid prices at 17 June 02:29 p.m. GMT Descripti RIC Last U.S. Pct YTD Pct High Low on Close Change Bid Bid Previous Session Dollar 98.33 98.179 0.17 per cent -9.36 per cent 98.36 98.0 index 35 Euro/Doll 1.1537 1.1559 -0.19 per cent 11.44 per cent $1.158 $1.1 ar 535 Dollar/Ye 144.97 144.79 0.14 per cent -7.86 per cent 145 144. n 445 Euro/Yen 167.25 167.31 -0.04 per cent 2.47 per cent 167.61 166. 98 Dollar/Sw 0.814 0.8139 0.01 per cent -10.31 per cent 0.8149 0.81 iss 21 Sterling/ 1.3518 1.3576 -0.41 per cent 8.1 per cent $1.3577 $1.3 Dollar 517 Dollar/Ca 1.3589 1.3569 0.17 per cent -5.49 per cent 1.3594 1.35 nadian 58 Aussie/Do 0.6517 0.6524 -0.08 per cent 5.36 per cent $0.6543 $0.6 llar 503 Euro/Swis 0.9391 0.9406 -0.16 per cent -0.02 per cent 0.9419 0.93 s 86 Euro/Ster 0.8533 0.8514 0.22 per cent 3.13 per cent 0.8537 0.85 ling 12 NZ 0.6057 0.6059 0.07 per cent 8.35 per cent $0.608 0.60 Dollar/Do 47 llar Dollar/No 9.8863 9.914 -0.28 per cent -13.02 per cent 9.9272 9.86 rway 22 Euro/Norw 11.4105 11.4589 -0.42 per cent -3.05 per cent 11.4679 11.4 ay 11 Dollar/Sw 9.49 9.4846 0.06 per cent -13.86 per cent 9.5003 9.43 eden 77 Euro/Swed 10.9542 10.9632 -0.08 per cent -4.47 per cent 10.9774 10.9 en 248
Yahoo
04-04-2025
- Business
- Yahoo
Dollar gains vs euro, pares losses vs yen after US payrolls data
By Laura Matthews NEW YORK (Reuters) - The U.S. dollar rose against the euro and trimmed losses versus the yen on Friday, after non-farm payrolls data showed the U.S. economy added more jobs than expected in March. Non-farm payrolls rose by 228,000 jobs last month after a downwardly revised 117,000 rise in February, the Labor Department said. The euro is 0.21% weaker versus the dollar at $1.103, while the greenback pared losses against the yen to trade 0.29% lower at 145.67 yen. Uto Shinohara, senior investment strategist at Mesirow Currency Management, said that although non-farm payrolls significantly exceeded expectations, dollar moves were relatively subdued because markets remain focused on potential tariff-related repercussions. China announced additional tariffs of 34% on U.S. goods on Friday, the most serious response in a trade war with President Donald Trump, fuelling recession concerns and triggering a global stock market rout. "Heightened global awareness of trade tensions has increased FX volatility in response to tariff-related factors, evident in China's retaliatory measures pressuring the Australian dollar – risk currency – while supporting the Swiss franc – safe-haven currency," said Shinohara. "However, the employment report had a more limited impact on FX markets, as uncertainty surrounding tariff outcomes remains a dominant market driver." Currency bid prices at 4 April 01:16 p.m. GMT Descripti RIC Last U.S. Pct YTD Pct High Low on Close Change Bid Bid Previous Session Dollar 102.18 102.01 0.18% -5.82% 102.66 101. index 53 Euro/Doll 1.1031 1.1053 -0.18% 6.56% $1.1108 $1.0 ar 964 Dollar/Ye 145.36 146.135 -0.42% -7.52% 146.51 144. n 58 Euro/Yen 160.37 161.41 -0.64% -1.75% 162 159. 62 Dollar/Sw 0.851 0.8594 -0.98% -6.23% 0.8594 0.84 iss 78 Sterling/ 1.3 1.31 -0.74% 3.96% $1.3113 $1.2 Dollar 962 Dollar/Ca 1.4206 1.4097 0.78% -1.2% 1.4243 1.40 nadian 54 Aussie/Do 0.6121 0.6329 -3.26% -1.05% $0.6332 $0.6 llar 05 Euro/Swis 0.9387 0.9492 -1.11% -0.06% 0.9496 0.93 s 68 Euro/Ster 0.8484 0.8432 0.62% 2.55% 0.8507 0.84 ling 32 NZ 0.5649 0.5794 -2.47% 0.99% $0.5797 0.56 Dollar/Do 14 llar Dollar/No 10.5922 10.3188 2.65% -6.81% 10.6111 10.3 rway 066 Euro/Norw 11.6849 11.4046 2.46% -0.71% 11.715 11.4 ay 03 Dollar/Sw 9.9132 9.7647 1.52% -10.02% 9.9854 9.74 eden 51 Euro/Swed 10.9361 10.7931 1.32% -4.63% 11.0066 10.7 en 94 Sign in to access your portfolio
