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Dollar set to end five-week win streak as risk sentiment rebounds

By John McCrank and Tommy Wilkes NEW YORK/LONDON (Reuters) -The dollar edged lower against a basket of major currencies on Friday, on track to break its five-week winning streak,...
Dollar set to end five-week win streak as risk sentiment rebounds © Reuters. FILE PHOTO: An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany./File Photo

By John McCrank and Tommy Wilkes

NEW YORK/LONDON (Reuters) -The dollar edged lower against a basket of major currencies on Friday, on track to break its five-week winning streak, as global risk appetite rebounded, reducing demand for the safe-haven currency.

Global stock markets have rallied this week as fears about a stagflationary economy have been eased by forecast-beating corporate earnings in the United States.

Unexpectedly strong U.S. retail sales data for September also boosted sentiment. Retail sales rose 0.7% last month, versus expectations of a 0.2% decline, helped in part by higher prices.

"The risk appetite here remains really, really strong for the time being," said Boris Schlossberg, managing director of FX strategy at BK Asset Management.

"That's helping the high beta currencies like the pound, the euro and the Aussie, simply because the market is feeling much more positive," he said.

The dollar index firmed after the retail sales data, but then trended lower and was down 0.19% for the week, after appreciating for the previous five weeks. The dollar was last down 0.106% at 93.941, after having hit a one-year high of 94.563 on Tuesday.

Sterling rose 0.69% to $1.3765, its highest since Sept. 17, while the euro edged up 0.02% to $1.1601 after touching $1.1624 on Thursday for the first time since Sept. 4.

The risk-sensitive Aussie dollar added 0.01% to $0.7416, having climbed to $0.7439 earlier in the session. New Zealand's dollar jumped 0.42% to $0.7065, extending Thursday's 1% surge.

The Japanese yen was the biggest loser, dropping to as low as 114.46 yen per dollar, its weakest since October 2018. The yen is a safe-haven currency and has been knocked by the rebound in sentiment including in Asia.

The dollar was last up 0.42% against the yen at 114.15 yen.

The greenback had rallied against its major peers since early September on expectations the U.S. central bank would tighten monetary policy more quickly than previously expected amid an improving economy and surging energy prices.

Minutes of the Fed's September meeting confirmed this week that a tapering of stimulus is all but certain to start this year, although policymakers are sharply divided over inflation and what they should do about it.

Money markets are currently pricing in about 50/50 odds of a 25 basis point rate hike by July.

Analysts said investors who were long dollars had been squeezed out of their positions in the past few days, and inflation data did not support a further rise in the currency.

"The lack of any upside surprise in U.S. CPI (consumer price inflation) data and confirmation of existing expectations on Fed tapering in the minutes provided no catalyst for additional USD buying and hence the sell-off," said MUFG analyst Derek Halpenny.

In cryptocurrency markets, the price of bitcoin topped $60,000 for the first time in six months and was not far from its record high on bets U.S. regulators will approve a bitcoin futures exchange traded fund.

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29-03-2024 02:24:18 (UTC+7)

EUR/USD

1.0786

-0.0040 (-0.37%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

EUR/USD

1.0786

-0.0040 (-0.37%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

GBP/USD

1.2622

-0.0016 (-0.13%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (4)

USD/JPY

151.40

+0.09 (+0.06%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (2)

Sell (2)

AUD/USD

0.6515

-0.0018 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (5)

USD/CAD

1.3547

-0.0021 (-0.15%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (1)

EUR/JPY

163.25

-0.50 (-0.31%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/CHF

0.9729

-0.0057 (-0.58%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Gold Futures

2,240.95

+28.25 (+1.28%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

Silver Futures

24.968

+0.216 (+0.87%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (5)

Copper Futures

4.0092

+0.0092 (+0.23%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

Crude Oil WTI Futures

83.11

+1.76 (+2.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

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Brent Oil Futures

86.96

+1.55 (+1.81%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

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Natural Gas Futures

1.748

+0.030 (+1.75%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (3)

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

5,258.88

+10.39 (+0.20%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

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

2,121.25

+6.90 (+0.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

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:

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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/USD1.0786↑ Sell
 GBP/USD1.2622↑ Sell
 USD/JPY151.40Buy
 AUD/USD0.6515↑ Sell
 USD/CAD1.3547↑ Buy
 EUR/JPY163.25↑ Sell
 EUR/CHF0.9729↑ Sell
 Gold2,240.95↑ Sell
 Silver24.968Neutral
 Copper4.0092↑ Sell
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.96↑ Buy
 Natural Gas1.748Neutral
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,258.88Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,121.25↑ Sell
 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
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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
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WTI$82.78+5.350.07%
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$ 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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