SINGAPORE (Reuters) – The dollar wallowed near a one-week low against a basket of major currencies on Friday and was on track for its biggest weekly drop in a month in the wake of poor U.S. economic data.
The dollar retreated this week as a series of lackluster indicators underscored the view that the Federal Reserve is more likely to raise interest rates later in the year than in June.
SINGAPORE/SYDNEY, April 16 (Reuters) – The Australian dollar
gained a lift from strong Australian jobs data, while the
greenback struggled to gain traction after weak U.S. output data
added to uncertainty over the timing of a Federal Reserve
interest rate rise.
The Australian dollar climbed 0.9 percent to $0.7752
as upbeat Australian jobs data prompted the market to
scale back bets for another interest rate cut by the Reserve
Bank of Australia.
SINGAPORE (Reuters) – Singapore’s central bank on Tuesday surprised markets by holding off from further monetary easing, saying an improving outlook for global growth would underpin the trade-reliant economy.
The Monetary Authority of Singapore (MAS) said the city-state’s economy was on track to meet the official forecast of 2-4 percent growth in 2015, and kept its projections for headline and core inflation unchanged.
SINGAPORE/TOKYO (Reuters) – The Australian dollar tumbled on Monday after a shock contraction in China’s exports added to worries about slowing growth in the world’s second-largest economy, while sterling extended its losses to fresh five-year lows.
The Australian dollar, considered a liquid proxy of China plays, slid 1.2 percent to $0.7592 AUD=D4. That brought the Aussie back within sight of a low of $0.7534 set on April 2, its lowest level in about six years.
SINGAPORE/TOKYO, April 13 (Reuters) – The Australian dollar
tumbled on Monday after a shock contraction in China’s exports
added to worries about slowing growth in the world’s
second-largest economy, while sterling extended its losses to
fresh five-year lows.
The Australian dollar, considered a liquid proxy of China
plays, slid 1.2 percent to $0.7592. That brought the
Aussie back within sight of a low of $0.7534 set on April 2, its
lowest level in about six years.
SINGAPORE (Reuters) – The World Bank cut its 2015 growth forecasts for developing East Asia and China, and warned of “significant” risks from global uncertainties including the potential impact from a strengthening dollar and higher U.S. interest rates.
The Washington-based lender expects the developing East Asia and Pacific (EAP) region, which includes China, to grow 6.7 percent in each of 2015 and 2016, down from 6.9 percent growth in 2014.
SYDNEY/SINGAPORE, April 10 (Reuters) – The dollar hovered
near a three-week high against a basket of major currencies on
Friday, supported by a rise in U.S. bond yields, while the euro
gained a bit of respite after a recent selloff.
The euro edged up 0.2 percent to $1.0679, having
fallen as far as $1.0637 on Thursday, its lowest level since
March 19. For the week, the euro is down about 2.7 percent.
SYDNEY/SINGAPORE, April 9 (Reuters) – The dollar touched a
one-week high on Thursday, having enjoyed another leg up after
two influential Federal Reserve officials kept alive
expectations for a hike in interest rates sometime this year.
New York Fed President William Dudley and Fed Governor
Jerome Powell on Wednesday sketched out scenarios in which the
central bank could make an initial move earlier than many now
expect and then proceed in a slow and gradual manner on further
SINGAPORE (Reuters) – Singapore’s central bank could loosen monetary policy for a second time this year on Tuesday, but analysts are divided over the magnitude of any easing as authorities contend with slowing growth, a pick up in core inflation and risks of fund outflows.
It’s a delicate balancing act for the Monetary Authority of Singapore (MAS) when it meets for its bi-annual review, with the start of the U.S. Federal Reserve’s tightening cycle expected later this year adding another layer of uncertainty.
SINGAPORE/TOKYO, April 1 (Reuters) – The dollar slipped
versus the yen at the start of a new quarter on Wednesday, as a
soft reading on Japanese business sentiment dented Tokyo shares
and helped bolster the safe haven yen.
The Australian dollar gained a lift from a better-than
expected reading of Chinese factory activity and that added to
the broadly weak tone of the greenback, traders said.