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Dollar Drifts as ECB's Lagarde Sticks to Transitory Inflation Line

By Geoffrey Smith AiVIF.com -- The dollar was broadly unchanged on foreign exchange markets on Thursday, ahead of a busy day for central bank and economic news. By 3 AM ET...
Dollar Drifts as ECB's Lagarde Sticks to Transitory Inflation Line

By Geoffrey Smith

AiVIF.com -- The dollar was broadly unchanged on foreign exchange markets on Thursday, ahead of a busy day for central bank and economic news.

By 3 AM ET (0800 GMT), the dollar index, which tracks the greenback against a basket of advanced economy currencies, was effectively flat at 95.47. That has been the pattern for the year so far, despite a sharp rise in U.S. bond yields which would normally be more supportive for it. Year-to-date, the dollar index is actually down 0.1%.

The sideways drift is even more surprising, given the increasingly stark contrast between monetary policy in the U.S. and in other big parts of the world economy. The Chinese central bank continued its easing of monetary policy to help a troubled real estate sector earlier, cutting its Prime Loan Rate to 3.7% from 3.8% and promising more support in future. Central banks in Norway, Turkey and Ukraine all meet in the course of the day.

That move comes only days after the Bank of Japan again reiterated there was no chance of a near-term rise in interest rates, seeing inflaton as likely to stay well below target for another two years at least.

European Central Bank President Christine Lagarde also took up the theme on Thursday, telling the virtual World Economic Forum that the conditions that are forcing the Federal Reserve to raise interest rates are not present in the Eurozone, where wages are rising much more slowly and that over half of the inflation being currently reported is due to energy prices, and thus likely to reverse. The ECB releases the accounts of its last meeting later Thursday. 

The market took that message with a pinch of salt: EUR/USD was up 0.2% at $1.1369, after the German statistics office Destatis reported that producer prices rose 5.0% in the month of December alone, and were up 24.2% on the year, well above inflation. Most of that increase was due to the fact that natural gas prices more than doubled. Eurozone consumer price data for December are due at 5 AM ET.

Gas deliveries to Germany are a central part of another major issue keeping markets occupied at the moment. The Russian ruble fell 0.5% to 76.49 to the dollar, after U.S. President Joe Biden suggested he expects Russia to invade Ukraine in the near future, in what would be its third invasion of a neighboring state in 14 years.

Other points of interest for the market on Thursday include U.S. jobless claims data, which last week showed the first real impacts from the wave of Omicron-variant Covid-19 across the country. The Philadelphia Federal Reserve will also release its monthly business survey, while existing home sales data for December are also due. 

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29-03-2024 04:35:11 (UTC+7)

EUR/USD

1.0790

+0.0003 (+0.03%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (8)

Sell (1)

EUR/USD

1.0790

+0.0003 (+0.03%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (8)

Sell (1)

GBP/USD

1.2623

+0.0001 (+0.01%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (3)

Sell (4)

USD/JPY

151.38

0.01 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

AUD/USD

0.6516

+0.0001 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (1)

Sell (7)

USD/CAD

1.3539

0.0001 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

EUR/JPY

163.28

+0.03 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (1)

Sell (6)

EUR/CHF

0.9730

+0.0003 (+0.03%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Gold Futures

2,254.90

+42.20 (+1.91%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

Silver Futures

25.098

+0.346 (+1.40%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Copper Futures

4.0118

+0.0118 (+0.30%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Crude Oil WTI Futures

83.11

+1.76 (+2.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Brent Oil Futures

86.98

+0.03 (+0.03%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Natural Gas Futures

1.752

+0.034 (+1.98%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (6)

US Coffee C Futures

188.53

-2.12 (-1.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

S&P 500

5,254.35

+5.86 (+0.11%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (8)

DAX

18,504.51

+27.42 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

FTSE 100

7,952.62

+20.64 (+0.26%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Hang Seng

16,541.42

+148.58 (+0.91%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (1)

US Small Cap 2000

2,120.15

+5.80 (+0.27%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (5)

Sell (4)

IBEX 35

11,074.60

-36.70 (-0.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

BASF SE NA O.N.

52.930

-0.320 (-0.60%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

Bayer AG NA

28.43

+0.01 (+0.04%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

277.80

+0.35 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Adidas AG

207.00

+2.30 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Deutsche Lufthansa AG

7.281

+0.104 (+1.45%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

Siemens AG Class N

176.96

+0.04 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Deutsche Bank AG

14.582

-0.030 (-0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

 EUR/USD1.0790Buy
 GBP/USD1.2623Sell
 USD/JPY151.38↑ Sell
 AUD/USD0.6516Neutral
 USD/CAD1.3539↑ Sell
 EUR/JPY163.28Neutral
 EUR/CHF0.9730↑ Buy
 Gold2,254.90↑ Buy
 Silver25.098↑ Buy
 Copper4.0118↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.98↑ Buy
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,880/ 8,050
(0/ 0) # 1,398
SJC HCM7,900/ 8,100
(0/ 0) # 1,450
SJC Hanoi7,900/ 8,102
(0/ 0) # 1,452
SJC Danang7,900/ 8,102
(0/ 0) # 1,452
SJC Nhatrang7,900/ 8,102
(0/ 0) # 1,452
SJC Cantho7,900/ 8,102
(0/ 0) # 1,452
Cập nhật 29-03-2024 04:35:13
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$2,229.19+38.171.74%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.82+5.390.07%
Brent$86.82+5.180.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.580,0024.950,00
EUR26.018,3427.446,04
GBP30.390,9531.684,00
JPY158,69167,96
KRW15,8419,20
Cập nhật lúc 18:53:18 28/03/2024
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