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Dollar Up, Takes “Wee Breath” Ahead of Powell’s Congress Testimony

By Gina Lee
AiVIF.com – The dollar was up on Tuesday morning in Asia. The greenback hit pause as investors await testimony from U.S. Federal Reserve Chairman Jerome Powell...
Dollar Up, Takes “Wee Breath” Ahead of Powell’s Congress Testimony © Reuters.

By Gina Lee

AiVIF.com – The dollar was up on Tuesday morning in Asia. The greenback hit pause as investors await testimony from U.S. Federal Reserve Chairman Jerome Powell after being caught off-guard by the central bank’s latest policy decision.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.04% to 91.922 by 12 AM ET (4 AM GMT).

The USD/JPY pair edged up 0.11% to 110.42.

The AUD/USD pair was down 0.26% to 0.7515 and the NZD/USD pair edged down 0.14% to 0.6976.

The USD/CNY pair inched down 0.02% to 6.4645.

The GBP/USD pair inched down 0.10% to 1.3914. Investors await a further re-opening of the U.K. economy on Jul. 19 as well as a Bank of England policy decision, to be handed down on Thursday.

The U.S. currency has climbed sharply ever since the previous week’s Fed decision, which hinted that interest rate hikes and asset tapering could come sooner than expected. It gave up some of those gains on Monday as it dipped, however.

"We've had a meaningful shift at the Fed from a longtime dovish stance to now a slightly hawkish one... we've had a bit of a positioning cleanout, the whole world was mega short the dollar and that's in good part probably been cleaned out already, and now we take a wee breath before the next move up," Westpac currency analyst Imre Speizer told Reuters.

Investors will now focus on the U.S. labor market, whose performance will likely influence the Fed’s next moves. They also await Powell’s testimony before a House of Representatives subcommittee hearing later in the day.

However, Powell noted sustained labor market improvement and the recent increase in inflation in written remarks ahead of his testimony.

Other Fed officials, including St. Louis Fed President James Bullard and Dallas Fed President Robert Kaplan, also offered toned-down rhetoric. However, New York Fed President John Williams (NYSE:WMB) warned it was too soon to shift policy as he expects inflation to ease from about 3% in 2021 to around 2% in 2022 and 2023.

Some investors were unsure of Williams’ prediction, however.

"The Fed is nearly always late on such things," with core inflation potentially higher at just under 3% by the end of 2022. "That is not 2% inflation,” with the Fed eventually feeling the pressure to move on interest rates, RBC Capital Markets chief economist Tom Porcelli said in a note.

"In the meantime, we have no doubt with that 2% forecast as cover, Powell will attempt to play down the likelihood of a rate hike in 2022. But just as he eventually relented on taper talk, he will relent on dismissing talk about hiking rates too. Just give it more time,” the note added.

In cryptocurrencies, bitcoin and its rivals slumped on Monday in reaction to an intensifying crackdown on trading and mining in China in addition to technical factors.

"The tides of FONGO, or fear of not getting out, are creeping in," Pepperstone head of research Chris Weston told Reuters.

"Bitcoin is also at a make-or-break point” as it tests May's low of near $30,000. "Ethereum looks plain ugly and if crypto is an emotive asset, then one would have to be the staunchest of hodlers to be holding this and not look for some sort of hedge," he added.

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20-08-2022 04:07:11 (UTC+7)

EUR/USD

1.0037

-0.0051 (-0.51%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

EUR/USD

1.0037

-0.0051 (-0.51%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

GBP/USD

1.1831

-0.0099 (-0.83%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

USD/JPY

136.93

+1.04 (+0.77%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

AUD/USD

0.6873

-0.0046 (-0.66%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

USD/CAD

1.2993

+0.0046 (+0.35%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (7)

EUR/JPY

137.43

+0.35 (+0.26%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (5)

EUR/CHF

0.9628

-0.0024 (-0.25%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Gold Futures

1,761.10

-10.10 (-0.57%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Silver Futures

18.980

-0.484 (-2.49%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (5)

Copper Futures

3.6697

+0.0382 (+1.05%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

Crude Oil WTI Futures

89.97

-0.53 (-0.59%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (2)

Brent Oil Futures

95.78

-0.81 (-0.84%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (7)

Sell (2)

Natural Gas Futures

9.273

+0.085 (+0.93%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

US Coffee C Futures

216.20

+1.50 (+0.70%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (9)

Euro Stoxx 50

3,730.32

-47.06 (-1.25%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (6)

Sell (2)

S&P 500

4,228.48

-55.26 (-1.29%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (5)

DAX

13,544.52

-152.89 (-1.12%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (1)

FTSE 100

7,550.37

+8.52 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (2)

Hang Seng

19,773.03

+9.12 (+0.05%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (4)

US Small Cap 2000

1,958.83

-41.90 (-2.09%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

IBEX 35

8,338.10

-92.20 (-1.09%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

BASF SE NA O.N.

43.035

-0.405 (-0.93%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (10)

Sell (0)

Bayer AG NA

54.40

+0.34 (+0.63%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (10)

Allianz SE VNA O.N.

176.02

-2.50 (-1.40%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (7)

Adidas AG

165.60

-1.92 (-1.15%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

Deutsche Lufthansa AG

6.275

-0.291 (-4.43%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (4)

Sell (2)

Siemens AG Class N

108.20

-2.06 (-1.87%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Deutsche Bank AG

8.496

-0.372 (-4.19%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (4)

Sell (3)

 EUR/USD1.0037↑ Sell
 GBP/USD1.1831↑ Buy
 USD/JPY136.93↑ Buy
 AUD/USD0.6873↑ Sell
 USD/CAD1.2993↑ Sell
 EUR/JPY137.43Neutral
 EUR/CHF0.9628↑ Buy
 Gold1,761.10↑ Buy
 Silver18.980Sell
 Copper3.6697Neutral
 Crude Oil WTI89.97Buy
 Brent Oil95.78Neutral
 Natural Gas9.273↑ Sell
 US Coffee C216.20↑ Sell
 Euro Stoxx 503,730.32↑ Buy
 S&P 5004,228.48↑ Sell
 DAX13,544.52Neutral
 FTSE 1007,550.37↑ Buy
 Hang Seng19,773.03Neutral
 Small Cap 20001,958.83↑ Buy
 IBEX 358,338.10↑ Buy
 BASF43.035↑ Buy
 Bayer54.40Sell
 Allianz176.02↑ Sell
 Adidas165.60↑ Sell
 Lufthansa6.275Buy
 Siemens AG108.20↑ Sell
 Deutsche Bank AG8.496Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,600/ 6,700
(0/ 0) # 1,734
SJC HCM6,620/ 6,720
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SJC Hanoi6,620/ 6,722
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SJC Danang6,620/ 6,722
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SJC Nhatrang6,620/ 6,722
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SJC Cantho6,620/ 6,722
(0/ 0) # 1,755
Cập nhật 20-08-2022 04:07:14
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ↀ Giá vàng thế giới
$1,747.00-11.57-0.66%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI$89.62+0.630.69%
Brent$95.40+0.460.48%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.235,0023.545,00
EUR22.981,7524.268,73
GBP27.175,3928.334,31
JPY167,13176,93
KRW15,2618,59
Cập nhật lúc 18:54:07 19/08/2022
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