Forex Today: Steadily Cooling US Labor Market Keep US Dollar on Edge

The US Dollar (USD) recovers modestly during the Asian session on Friday. However, the near-term appeal is still uncertain as higher-than-projected Initial Jobless Claims (IJC) for the week ending May 3 indicated that the United States (US) labor market is struggling to bear the burden of Federal Reserve’s (Fed) restrictive policy framework.

FXStreet02:02 ET

USD/CAD Advances to Near 1.3700 as US Dollar Remains Firmer

USD/CAD gains ground due to the expectations of the Fed keeping higher rates for longer.

FXStreet00:37 ET

Experts say the surge in the US money supply means the Federal Reserve will not cut interest rates in 2024!

Bert Dohmen, an analyst at Dohmen Capital Research, said that the recent sharp increase in the supply of M2 money in the US means that the Federal Reserve will not be able to deliver on expected interest rate cuts this year. He also believes that all discussions about how many times the Federal Reserve may cut interest rates this year are meaningless.

FX678 Finance20:55 ET

Federal Reserve Daly: Restrictive interest rates need more time to work

The Zhitong Finance App learned that San Francisco Federal Reserve Chairman Daly said that interest rates are currently holding back the economy, but it may take more time for inflation to return to the Federal Reserve's target level. “We have taken restrictive measures, but it may take more time to reduce inflation,” Daly said in a discussion on Thursday. This statement echoes Federal Reserve Chairman Powell's speech on April 16. Daly said that recent data showed that price pressure picked up at the beginning of this year, which highlights the reason why policymakers cannot declare victory in the fight against inflation until they are convinced that inflation is under control. She said, “For the next few months

Zhitong Finance19:48 ET

Bank of Canada: Canadian households can repay their debts at higher interest rates

According to the Bank of Canada's latest annual financial stability report, Canadian households seem to be able to bear this burden despite rising borrowing costs

Zhitong Finance18:00 ET

US Dollar Modestly Retreats After Disappointing Jobless Claims Data

The US Dollar Index (DXY) is trading at 105.35, slightly down. Despite signals of persistently high inflation acknowledged by Federal Reserve (Fed) Chair Jerome Powell and a recent hawkish stance from the Fed, the Dollar seems to be under mild downward pressure on Thursday due to the report of weak Initial Jobless Claims figures

FXStreet13:05 ET