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USD/ARS News
High mortgage interest rates remain in the United States. Applications for housing mortgage loans have experienced the largest drop since early April.
According to the Zhitong Finance APP, due to mortgage interest rates staying above 7%, the number of US housing mortgage applications last week experienced the largest decline since early April. Data released by the Mortgage Bankers Association (MBA) on Wednesday showed that the mortgage application index for home purchases decreased by 4.4% for the week ending May 31 (including Memorial Day). The contract rate for 30-year fixed-rate mortgages increased by 2 basis points to 7.07%, the ninth consecutive week above 7%. However, the interest rate for adjustable-rate mortgages with a term of five years decreased by 27 basis points to a two-month low of 6.37%. Mortgage loans.
Dollar Crisis Warning: The US economy is weak, and non-farm data will trigger the market!
The US economy has not shown any major danger signals, but some small worries are accumulating. The manufacturing PMI was in contraction range on Monday. As weak economic data gives the Federal Reserve a strong inclination towards loose policies, the dollar is declining. This Friday, the dollar will face the challenge of May's non-farm employment data.
Forex strategists' survey: If the US Federal Reserve cuts interest rates, the US dollar will weaken in the next year.
Forex strategists believe that the recent sustained strengthening of the US dollar will give way to a slight weakening in the next 12 months. They generally believe that the US dollar is overvalued.
Former US Treasury Secretary Summers: Interest rates will remain high in the long term, with a neutral interest rate of 4.5%, and inflation won't return to 2%.
Despite the decline in inflation and economic slowdown, the Federal Reserve continues to maintain the highest interest rates in decades. Former US Treasury Secretary Lawrence Summers believes that the era of low interest rates is gone and long-term interest rates will continue to rise, with neutral interest rates far higher than the Fed's expectations. On Tuesday local time, Summers said in a New York Economic Club online seminar: In the foreseeable future, the market should be accustomed to the current range of interest rates and even the long-term interest rates that are higher than the current level. He also believes that inflation has not gone on a convincing trajectory and is difficult to achieve in the United States.
Former U.S. Treasury Secretary Summers: Federal Reserve has little room to cut interest rates, neutral rate expected at 4.5%.
During a discussion at the New York Economic Club on Tuesday, Eastern Time, Professor Lawrence Summers of Harvard University and Glenn Hubbard, former chairman of the Economic Advisory Council for President George W. Bush, discussed the future economic trends and monetary policy direction of the United States. Summers estimates that the US neutral interest rate is about 4.5%, higher than the Federal Reserve's forecast of 2.6%. Summers pointed out that there is currently no...
Forex Today: The Dollar Regains Some Composure Ahead of Upcoming Data
The USD Index (DXY) advanced slightly after briefly testing two-month lows near 104.00. On June 5, MBA’s Mortgage Applications are due seconded by ADP Employment Change, the final S&P Global Services PMI and the ISM Services PMI.
US Dollar Sees Moderate Gains Despite Soft Labor Market Data
USD manages to hold its ground on Tuesday after sharp losses on Monday due to disappointing May ISM PMIs.
US JOLTs job vacancies hit a nearly 3-year low! Will a rate cut by the Federal Reserve depend on the non-farm payrolls report?
Job openings in the United States in April fell to the lowest level in over three years, consistent with the gradual slowdown in the labor market and strengthening people's speculation that the Fed will be able to cut interest rates this year, causing spot gold to fall back after returning to $2330.
The Overlooked Impact of Lower Crude Oil Prices on Inflation and the Dollar
Everyone talks about higher CPI when crude is up, but ignores it when prices drop. Right now, lower crude oil is actually helping to soften inflation and weaken the dollar.
Is the Federal Reserve's interest rate cut countdown underway? The global market is anxiously awaiting heavy data this week!
Global stock markets suffered a sell-off on Tuesday, with the US dollar falling to a new low for the months. Concerns over the weakening of the economy were sparked by the weakness in US manufacturing, and the unexpected results of the Indian elections caused turmoil in Asian markets. European energy stocks were hit, while the US Treasury market remained stable. Expectations for a Fed rate cut are on the rise, and this week's key employment data will be the focus.
US Dollar Reemerges After Downbeat Start of the Week
The US Dollar trades firmly in the green against its peers.
Dollar Traders Lock Gaze on NFP Report
Fed sticks to ‘higher for longer’ mentality.
The Dollar Is at Its Strongest Since the 1980s. Will It Last? -- Heard on the Street -- WSJ
For a decade now, currency markets have been ruled by the strengthening dollar. But no kingdom lasts forever.
Dollar Edges Up From 2-Month Lows as Rate Cuts Still Look Some Way Away -- Market Talk
The dollar pulls away from two-month lows reached after Monday's weaker May manufacturing ISM data as the prospects of inflation pushing out the first Federal Reserve rate cut towards year end continues to prevail, supporting the currency, analysts at KBC Bank say.
Forex Today: US Dollar Stabilizes Following PMI-inspired Selloff
The US Dollar (USD) holds steady against its major rivals early Tuesday after suffering large losses in the American session on Monday
With the reversal of US economic data, it has become difficult for the USA and Japan to move upwards.
An increasing amount of evidence shows that the economic growth of the USA is reversing. The USA and Japan are recently highly influenced by the Federal Reserve's interest rate expectations. The ISM services report released on Wednesday is more important to the market. Due to the effects of narrowing yield differentials and concerns over the US economic outlook, the USD/JPY was in a disadvantageous position in early June. Data to be released in the coming days may provide an answer, offering ample two-way price risk in the face of rising uncertainties.
Bets on Fed rate cuts heat up, with the dollar falling to its lowest level in nearly two months.
According to the news from Zhitong Finance and Economics, the US dollar fell to its lowest level since April against the euro and the British pound on Tuesday, as signs of a weak US economy have given the Federal Reserve reason to cut interest rates in advance. The US dollar fell to a two-week low against the yen, after data showed that manufacturing activity had slowed for the second consecutive month and that construction spending had unexpectedly slipped. According to LSEG's interest rate probability application, the probability of a Fed fund futures rate cut in September has increased to around 59.1% after the data was released. As of press time, the US dollar index had fallen 0.05% to 103.99, its lowest level since April 9. By contrast, data released last Friday showed that consumer
Gold Prices Surge as US Treasury Yields Drop on Soft US ISM PMI
Gold climbs over 0.80% after hitting a daily low of $2,314.
Forex Today: US Data Dominate the Mood in the FX Space
The USD Index (DXY) dropped markedly and flirted with three-week lows near the 104.00 neighbourhood. On June 4, Factory Orders take centre stage seconded by the JOLTs Job Openings and the RCM/TIPP Economic Optimism Index.
US Dollar Continues to Decline Due to Weak ISM PMI Data
On Monday, the US Dollar Index (DXY) continued its decline toward the 104.15 area mainly due to the Institute of Supply Management (ISM) PMI report for May.