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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The dollar is heading for a third weekly gain

    Rocky
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    • Post n°1

    The dollar is heading for a third weekly gain Empty The dollar is heading for a third weekly gain

    Post by Rocky Fri 26 May 2023, 4:13 am

    [size=35][size=35]The dollar is heading for a third weekly gain[/size]
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    Economy

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    2023-05-26 | 01:49
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    Alsumaria News - Economy
    The dollar remained close to its highest level in two months against major currencies on Friday, and is heading for a third weekly gain, amid expectations that US interest rates will remain high for a longer period than expected.


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    Tension still hangs over the market due to the US debt ceiling negotiations between the president[url=https://www.alsumaria.tv/Entity/693544025/%D8%AC%D9%88 %D8%A8%D8%A7%D9%8A%D8%AF%D9%86/ar/]Joe Biden[/url]and the Republican Speaker of the House[url=https://www.alsumaria.tv/Entity/135387/%D9%83%D9%8A%D9%81%D9%86 %D9%85%D9%83%D8%A7%D8%B1%D8%AB%D9%8A/ar/]Kevin McCarthy[/url], as there is only a week left until the first of June, by which the government will not be able to cover its obligations in the event of not reaching an agreement.



    The dollar rose in early Asian trade, recording 139.82 yen, after peaking at 140.23 yen in the previous session, the highest level since November.

    The dollar index fell 0.05 percent to 104.18, just short of Thursday's two-month high of 104.31.

    The index rose 1 percent for the week, and is on track for its third weekly gain, as traders' expectations increased about how far interest rates could rise in the United States.

    Financial markets expect a roughly 52 percent chance that the Federal Reserve will increase interest rates by another 25 basis points at its policy meeting next month, compared to a 36 percent chance last week, according to CME's Feed Watch tool. .

    Expectations of a rate cut by the US central bank this year have also receded.

    Data released on Thursday showed that the number of Americans filing new applications for unemployment benefits rose last week to 229,000, lower than expected.

    The British pound rose 0.04% to $1.2326, but was still on track for a weekly loss of about 1%.

    The euro nearly settled at $1.0724, staying near the two-month low it hit in the previous session.

    The single currency was also affected by the entry confirmation[You must be registered and logged in to see this link.], the country's largest economy[You must be registered and logged in to see this link.], in recession in early 2023.

    The dollar received some support from the ongoing tension over debt ceiling negotiations.

    On Thursday, President Biden and House Speaker McCarthy appeared to be closing in on a deal that a US official said would raise the debt ceiling for two years while capping spending on most items other than the military and veterans.

    The Australian dollar fell to its lowest level in more than six months at $0.6490, due to pressures from the faltering economic recovery in[You must be registered and logged in to see this link.]After the Covid pandemic, due to the close trade relations between the two countries.

    The New Zealand dollar rose 0.11 percent to $ 0.6068, but it is heading for a weekly loss of more than three percent, the largest since September, after surprising[url=https://www.alsumaria.tv/Entity/45038/%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D8%A7%D8%AD%D8%AA%D9%8A%D8%A7%D8%B7%D9%8A/ar/]Reserve bank[/url]The New Zealand market is signaling this week that monetary tightening is over.

    The central bank raised interest rates by 25 basis points at the policy meeting, to the highest level in more than 14 years of 5.5 percent.
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