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Dollar Up, Near Two-Month High as Fed Springs Hawkish Policy Decision

By Gina Lee AiVIF.com – The dollar was up on Thursday morning in Asia, rising to its highest level in almost two months. Investors continue to digest the U.S. Federal Reserve's...
Dollar Up, Near Two-Month High as Fed Springs Hawkish Policy Decision © Reuters.

By Gina Lee

AiVIF.com – The dollar was up on Thursday morning in Asia, rising to its highest level in almost two months. Investors continue to digest the U.S. Federal Reserve's surprisingly hawkish tone in its latest policy decision.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies edged up 0.14% to 91.332 by 1:02 AM ET (5:02 AM GMT). The index climbed nearly 1% during the previous session, its biggest gain since March 2020.

The USD/JPY pair was steady at 110.69.

The AUD/USD pair was up 0.22 % to 0.7627. Australian employment data for May released earlier in the day was better than expected, with the employment change at 115,200. The unemployment rate fell to 5.1%.

Across the Tasman Sea, the NZD/USD pair gained 0.57% to 0.7089. Data released earlier in the day said that New Zealand’s GDP grew 1.6% quarter-on-quarter and 2.4% year-on-year in the first quarter. Both figures were higher than expected.

The USD/CNY pair was up 0.41% to 6.4232. Chinese economic data, released on Wednesday, said that industrial production grew a worse-than-expected 8.8% year-on-year in May while the unemployment rate was 5.2%.

The GBP/USD pair inched up 0.07% to 1.3997 but fell below the $1,400-mark.

The dollar hit an almost two-month high of $1.1984 against the euro on Thursday, extending its gain of about 1% from the previous session.

The Fed brought forward its projections for the first post-COVID-19 interest rate hikes into 2023 as it handed down its decision on Wednesday. An improving COIVD-19 situation, with states including California and New York re-opening, was cited for the reversal from the central bank’s previous stance that COVID-19 was weighing on the economy.

A majority 8 of 11 Fed officials forecast at least two quarter-point interest rate increases for 2023, despite pledging to maintain the current dovish policy for now to courage the ongoing recovery in the job market.

Meanwhile, inflation is expected to jump in 2021, even as price pressures are still expected to be temporary. Overall economic growth is also expected to hit 7%.

"The Fed's super hawkish pivot should reinforce the lows and offer further near-term dollar support... a double whammy of higher rates and wobbly risk sentiment would result in positioning squeeze and the start of a new narrative," possibly resulting in "a 2% broad USD rally through the summer months," TD Securities analysts said in a note.

The benchmark 10-year Treasury yield was at 1.5890% on Thursday, after rallying to as high as 1.5940% from as low as 1.4820% the day before.

Investors now await decisions from other central banks, including the Swiss National Bank and Norges Bank later in the day, followed by the Bank of Japan on Friday.

The strengthening dollar also hit cryptocurrencies, with bitcoin near the $38,624-mark following a 4.5% slide on Wednesday, and ether traded at $2,393.

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29-03-2024 19:00:54 (UTC+7)

EUR/USD

1.0787

0.0000 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (6)

EUR/USD

1.0787

0.0000 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (6)

GBP/USD

1.2615

-0.0007 (-0.06%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (4)

USD/JPY

151.36

-0.01 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

AUD/USD

0.6514

-0.0001 (-0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.3551

+0.0014 (+0.10%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (0)

EUR/JPY

163.25

0.00 (0.00%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (0)

Sell (5)

EUR/CHF

0.9726

-0.0001 (-0.01%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (5)

Gold Futures

2,254.80

42.10 (1.90%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (0)

Silver Futures

25.100

+0.002 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Copper Futures

4.0115

-0.0003 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

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

86.99

+0.04 (+0.05%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (3)

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

0.00 (0.00%)

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/USD1.0787↑ Sell
 GBP/USD1.2615↑ Sell
 USD/JPY151.36↑ Buy
 AUD/USD0.6514↑ Buy
 USD/CAD1.3551↑ Buy
 EUR/JPY163.25Neutral
 EUR/CHF0.9726Sell
 Gold2,254.80Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.99Neutral
 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
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SJC Eximbank7,910/ 8,080
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SJC HCM7,900/ 8,100
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SJC Hanoi7,900/ 8,102
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SJC Nhatrang7,900/ 8,102
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Cập nhật 29-03-2024 19:00:57
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$2,232.75-1.61-0.07%
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
USD24.600,0024.970,00
EUR26.020,0327.447,78
GBP30.490,4131.787,64
JPY158,93168,22
KRW15,9119,28
Cập nhật lúc 18:53:13 29/03/2024
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