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Dollar slips as positioning and technical selling weigh

By Saqib Iqbal Ahmed NEW YORK (Reuters) - The dollar fell against a basket of currencies on Thursday to a two-month low, a day after data that showed an expected surge in U.S....
Dollar slips as positioning and technical selling weigh © Reuters. FILE PHOTO: A picture illustration of U.S. dollar, Swiss Franc, British pound and Euro bank notes, taken in Warsaw January 26, 2011. REUTERS/Kacper Pempel/File Photo

By Saqib Iqbal Ahmed

NEW YORK (Reuters) - The dollar fell against a basket of currencies on Thursday to a two-month low, a day after data that showed an expected surge in U.S. consumer prices in December fell short of offering any new impetus for the Federal Reserve's policy normalization efforts.

The U.S. Dollar Currency Index, which tracks the greenback against six major currencies, was down 0.2% at 94.791, its lowest since Nov. 10. The index, which rose 6.3% in 2021, is down about 1% for the week, on pace for its worst weekly performance in about eight months.

"Coming into the new year the dollar positioning was very much skewed to being long," said Mazen Issa, senior FX strategist at TD Securities.

"Yesterday's inflation numbers, in conjunction with (Fed Chair Jerome) Powell's testimony for his nomination hearing, were basically just in line with what markets had already positioned for," Issa said. "There wasn't anything materially new."

December's monthly U.S. consumer inflation figures, published on Wednesday, were a fraction higher than forecast and the increase in year-on-year consumer prices was, as expected, 7% - its biggest jump since June 1982.

Nevertheless, traders do not see these inflation readings as urgently shifting an already hawkish Fed too much. With at least three interest rate hikes already in the market price, some investors pared bets on further dollar gains.

Powell on Tuesday gave no clear indication that the Fed was in a rush to speed up plans for tightening monetary policy, putting some downward pressure on the greenback, which has benefited in recent weeks from expectations for a rapid pace of policy normalization.

U.S. producer price inflation slowed in December as the cost of goods fell amid signs that stretched supply chains were starting to ease, hopeful signs that inflation has probably peaked.

As continued high inflation eats further into Americans' pocketbooks, Federal Reserve Governor Lael Brainard on Thursday became the latest, and most senior, U.S. central banker to signal that the Fed is getting ready to start raising interest rates in March.

TD Securities' Issa attributed part of the selling pressure on the greenback to technical factors, with the euro on Wednesday rising above the $1.14 level for the first time since mid-November.

"Once we got through that $1.14 level, momentum players likely flipped to sell dollars on that move," he said.

International Monetary Market speculators exited 2021 with a net long position in the dollar that was close to the largest it has been in two years.

"The scale of the dollar sell-off must surely be partially indicative of positioning," MUFG analyst Derek Halpenny wrote in a research note. (Graphic: Bullish on the buck, https://fingfx.thomsonreuters.com/gfx/mkt/zgvomaywavd/Pasted%20image%201642087117672.png)

Sterling, which has been rallying as traders reckon Britain's economy can withstand a surge in COVID-19 cases and that the Bank of England is going to hike rates again as soon as next month, rose 0.11% to $1.372, its highest since late October.

The Australian dollar, often considered a liquid proxy for risk appetite, was 0.07% higher at $0.7289, its strongest since mid-November.

The broadly weaker greenback helped lift the Canadian dollar for a third day.

Elsewhere, bitcoin was 2.71% lower at $42,743.01, struggling to shake off the selling pressure that sent it to a five-month low of $39,558.70 on Monday.

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25-01-2022 08:08:45 (UTC+7)

EUR/USD

1.1272

-0.0051 (-0.45%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (6)

Sell (1)

EUR/USD

1.1272

-0.0051 (-0.45%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (6)

Sell (1)

GBP/USD

1.3458

-0.0027 (-0.20%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

USD/JPY

114.00

+0.09 (+0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

AUD/USD

0.7128

-0.0012 (-0.17%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (2)

USD/CAD

1.2644

+0.0010 (+0.08%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (2)

Sell (3)

EUR/JPY

128.49

-0.49 (-0.38%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (8)

EUR/CHF

1.0366

+0.0021 (+0.20%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

Gold Futures

1,840.60

-1.10 (-0.06%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (11)

Sell (0)

Silver Futures

23.765

-0.035 (-0.15%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

Copper Futures

4.4093

-0.0032 (-0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Crude Oil WTI Futures

83.17

-0.14 (-0.17%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

Brent Oil Futures

85.44

+0.01 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (10)

Natural Gas Futures

3.809

-0.066 (-1.70%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

US Coffee C Futures

237.60

+4.65 (+2.00%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (3)

Euro Stoxx 50

4,070.25

+15.89 (+0.39%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

S&P 500

4,410.13

+12.19 (+0.28%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

DAX

15,075.99

+64.86 (+0.43%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,358.17

+61.02 (+0.84%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (7)

Hang Seng

24,243.61

-412.85 (-1.67%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

US Small Cap 2000

2,030.04

+42.12 (+2.12%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (0)

IBEX 35

8,485.50

+67.70 (+0.80%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (8)

BASF SE NA O.N.

65.090

+0.830 (+1.29%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Bayer AG NA

50.68

+0.68 (+1.36%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (6)

Allianz SE VNA O.N.

219.78

+3.18 (+1.47%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (3)

Adidas AG

239.15

-1.60 (-0.66%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

Deutsche Lufthansa AG

6.697

+0.137 (+2.09%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (6)

Siemens AG Class N

137.48

+0.04 (+0.03%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (7)

Deutsche Bank AG

10.922

+0.162 (+1.51%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

 EUR/USD1.1272↑ Sell
 GBP/USD1.3458↑ Buy
 USD/JPY114.00↑ Sell
 AUD/USD0.7128↑ Buy
 USD/CAD1.2644Neutral
 EUR/JPY128.49↑ Sell
 EUR/CHF1.0366↑ Sell
 Gold1,840.60↑ Buy
 Silver23.765↑ Buy
 Copper4.4093↑ Buy
 Crude Oil WTI83.17↑ Sell
 Brent Oil85.44↑ Sell
 Natural Gas3.809↑ Sell
 US Coffee C237.60Neutral
 Euro Stoxx 504,070.25↑ Sell
 S&P 5004,410.13↑ Buy
 DAX15,075.99↑ Sell
 FTSE 1007,358.17↑ Sell
 Hang Seng24,243.61↑ Buy
 Small Cap 20002,030.04↑ Buy
 IBEX 358,485.50↑ Sell
 BASF65.090↑ Buy
 Bayer50.68Sell
 Allianz219.78Neutral
 Adidas239.15↑ Sell
 Lufthansa6.697Sell
 Siemens AG137.48↑ Sell
 Deutsche Bank AG10.922Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,195/ 6,245
(25/ 35) # 1,202
SJC HCM6,190/ 6,255
(40/ 45) # 1,211
SJC Hanoi6,190/ 6,257
(40/ 45) # 1,213
SJC Danang6,190/ 6,257
(40/ 45) # 1,213
SJC Nhatrang6,190/ 6,257
(40/ 45) # 1,213
SJC Cantho6,190/ 6,257
(40/ 45) # 1,213
Cập nhật 25-01-2022 08:08:48
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Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
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WTI$83.13+0.560.67%
Brent$86.35+0.290.33%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.470,0022.780,00
EUR24.914,3926.311,12
GBP29.734,0431.003,87
JPY192,65203,94
KRW16,3519,92
Cập nhật lúc 18:49:50 25/01/2022
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