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Global growth worries send dollar to new 20-yr high

By Chuck Mikolajczak NEW YORK (Reuters) - The dollar climbed to a fresh 20-year high on Thursday as concerns persisted that central bank actions to drive down high inflation would...
Global growth worries send dollar to new 20-yr high © Reuters. A man counts U.S. dollar banknotes at an exchange shop in Beirut, Lebanon March 18, 2022. REUTERS/Mohamed Azakir/Files

By Chuck Mikolajczak

NEW YORK (Reuters) - The dollar climbed to a fresh 20-year high on Thursday as concerns persisted that central bank actions to drive down high inflation would crimp global economic growth, boosting the currency's safe-haven appeal.

Data from the Labor Department showed weekly initial jobless claims rose to their highest level in three months, although the labor market remains a strength of the U.S. economy. On the inflation front, the producer price index showed a sharp deceleration in April to a 0.5% rise from the 1.6% surge the prior month, thanks in part to a sharp drop in energy products.

In the 12 months through April, the PPI increased 11.0% after accelerating 11.5% in March and above an estimated increase of 10.7%.

"PPI slightly mixed to slightly less than expected today but overall there is still a lot to worry about... if S&P sells off again that is going to be broadly supportive of dollars," said Erik Bregar Director, FX & Precious Metals Risk Management at Silver Gold Bull Inc in Toronto.

The dollar index rose 0.798% at 104.840 after touching 104.92, its highest level since Dec. 12, 2002. The euro down 1.38% to $1.0366 after falling to 1.0352, its lowest since Jan. 3, 2017.

After the Fed raised its benchmark overnight interest rate by 50 basis points last week, the largest hike in 22 years, investors have been attempting to assess how aggressive the central bank policy path will be. Expectations are completely priced in for another hike of at least 50 basis points at the central bank's June meeting, according to CME's FedWatch Tool https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc?redirect=/trading/interest-rates/fed-funds.

Irish Central Bank Governor Gabriel Makhlouf joined a chorus of European Central Bank policymakers calling for the Governing Council to act to tackle inflation, though not necessarily at the same pace as the Fed.

Risk assets have been under pressure for most of the year, with the S&P 500 on the verge of confirming it is in a bear market, commonly viewed as a decline of 20% from its record high.

Investors have gravitated towards safe-haven assets such as the dollar as worries have mounted about the Fed's ability to tamp down inflation without causing a recession, as well as repercussions from the war in Ukraine and rising COVID-19 cases in China sapping demand. Concern about a lingering stagflation environment of slow growth and high prices have also dented the appetite for risk.

U.S. Treasury Secretary Janet Yellen told a U.S. House of Representatives Financial Services Committee hearing the Fed can bring down inflation without causing a recession because of a strong U.S. job market and household balance sheets, low debt costs and a strong banking sector. Fed Chair Jerome Powell was also confirmed by the U.S. Senate for a second term.

"(The Fed) have a big, big credibility problem, they have always had one but it’s worse now. The inflation genie is out of the bottle and nothing else matters now," said Bregar.

Another safe-haven, the Japanese yen, strengthened 1.47% versus the greenback at 128.08 per dollar, while Sterling was last trading at $1.2173, down 0.63% on the day after a flurry of soft economic data in Britain.

In cryptocurrencies, Bitcoin last fell 0.54% to $28,250.01 after dropping to $25,390.26, its lowest level since December 2020.

Ethereum last fell 6.48% to $1,903.73.

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18-05-2022 13:09:01 (UTC+7)

EUR/USD

1.0537

-0.0010 (-0.09%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (2)

EUR/USD

1.0537

-0.0010 (-0.09%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (2)

GBP/USD

1.2481

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

USD/JPY

129.05

-0.34 (-0.26%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

AUD/USD

0.7035

+0.0006 (+0.09%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

USD/CAD

1.2813

+0.0003 (+0.03%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

EUR/JPY

135.99

-0.48 (-0.35%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/CHF

1.0473

-0.0004 (-0.04%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (5)

Gold Futures

1,813.16

-5.74 (-0.32%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Silver Futures

21.657

-0.093 (-0.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

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Buy (8)

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Copper Futures

4.2405

+0.0082 (+0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Crude Oil WTI Futures

111.00

+1.37 (+1.25%)

Summary

Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (4)

Brent Oil Futures

112.82

+0.89 (+0.80%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (3)

Sell (4)

Natural Gas Futures

8.278

-0.036 (-0.43%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

US Coffee C Futures

228.63

+3.83 (+1.70%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (6)

Euro Stoxx 50

3,741.51

+56.17 (+1.52%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

S&P 500

4,088.85

+80.84 (+2.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

DAX

14,185.94

+221.56 (+1.59%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,518.35

+53.55 (+0.72%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

Hang Seng

20,674.00

+71.48 (+0.35%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

US Small Cap 2000

1,840.30

+56.87 (+3.19%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (3)

IBEX 35

8,475.70

+122.00 (+1.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (11)

Sell (0)

BASF SE NA O.N.

50.690

+1.395 (+2.83%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

64.12

+0.91 (+1.44%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Allianz SE VNA O.N.

202.25

+3.43 (+1.73%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Adidas AG

183.30

+3.24 (+1.80%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

Deutsche Lufthansa AG

6.827

+0.131 (+1.96%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (2)

Siemens AG Class N

116.50

+2.90 (+2.55%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

Deutsche Bank AG

9.538

+0.319 (+3.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

 EUR/USD1.0537Neutral
 GBP/USD1.2481↑ Sell
 USD/JPY129.05↑ Sell
 AUD/USD0.7035↑ Buy
 USD/CAD1.2813Sell
 EUR/JPY135.99↑ Sell
 EUR/CHF1.0473Sell
 Gold1,813.16↑ Buy
 Silver21.657↑ Buy
 Copper4.2405↑ Buy
 Crude Oil WTI111.00Buy
 Brent Oil112.82Neutral
 Natural Gas8.278↑ Sell
 US Coffee C228.63Neutral
 Euro Stoxx 503,741.51↑ Buy
 S&P 5004,088.85↑ Buy
 DAX14,185.94↑ Buy
 FTSE 1007,518.35↑ Buy
 Hang Seng20,674.00↑ Buy
 Small Cap 20001,840.30Neutral
 IBEX 358,475.70↑ Buy
 BASF50.690↑ Buy
 Bayer64.12↑ Buy
 Allianz202.25↑ Buy
 Adidas183.30↑ Buy
 Lufthansa6.827Buy
 Siemens AG116.50↑ Buy
 Deutsche Bank AG9.538↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,825/ 6,925
(0/ 0) # 1,844
SJC HCM6,825/ 6,925
(0/ 0) # 1,839
SJC Hanoi6,825/ 6,927
(0/ 0) # 1,841
SJC Danang6,825/ 6,927
(0/ 0) # 1,841
SJC Nhatrang6,825/ 6,927
(0/ 0) # 1,841
SJC Cantho6,825/ 6,927
(0/ 0) # 1,841
Cập nhật 18-05-2022 13:09:03
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ↀ Giá vàng thế giới
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RON 95-V30.58031.190
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Dầu hỏa 2-K25.16025.660
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.955,0023.265,00
EUR23.783,5625.115,95
GBP28.150,0329.351,12
JPY173,94184,14
KRW15,7819,22
Cập nhật lúc 13:04:58 18/05/2022
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