dollar

The U.S. dollar has risen to its highest level in more than five weeks, with the U.S. Dollar DXY index breaking above the 50-day moving average resistance level, indicating a revival in investors' demand for safe-haven assets while debt limit talks continue. The dollar's gains during the...

Retail sales increased 0.4% in April on a month-over-month basis, according to the advance estimates released Tuesday, rebounding from a revised 0.7% decline recorded in March but falling short of the expected 0.8% increase.   US April Retail Sales: Key Takeaways Seasonally...

Although conversations around de-dollarization have gained ground recently, former Treasury Secretary Larry Summers did not seem too concerned during an interview with Bloomberg last week. The economist also shared his thoughts on how the U.S. should deal...

De-dollarization talks have gained ground recently, with the Chinese yuan and a proposed new BRICS currency among those touted as an alternative. An economist, however, argued the case for the dollar retaining its global dominance. Dollar Is Most Secure: The position of the dollar as the global...

The market has seen an uneven recovery this year following 2022's dismal performance. An analyst at Wedbush offered his thoughts on the trajectory for the tech sector, which has led from the front in the current recovery. New Safe Havens In Town: Tech stocks have become the "new safety trade,"...

Interest in the popular currency carry trade is reportedly increasing as rapid rate hikes by major central banks around the world appear to be almost over amid concerns over growth. What Happened: A Bloomberg gauge of borrowing dollars and putting the funds into a basket of emerging currencies...

Led by inflation and local currency weakness, the U.S. dollar has reportedly replaced the Zimbabwean dollar as the most-used currency in the African country for a second time — about four years after the re-introduction of the local unit. What Happened: U.S. dollars were utilized for 77% of...

China's yuan has reportedly taken over the position held by the U.S. dollar as the most traded currency in Vladimir Putin-led Russia, a year after the Ukraine war led to a slew of Western sanctions against Moscow. The yuan surpassed the dollar in monthly trading volume in February for the first...

Trading in the U.S. index futures suggests stocks may start Tuesday’s session slightly higher, although the mood could be cautious ahead of some key economic data on the housing market, business activity and consumer confidence. Cues From Monday’s Trading: U.S. stocks, which saw...

During the beginning of 2023, the dollar is expected to strengthen along with some volatility, which would mean the Chinese Yuan may weaken with large fluctuations, said the UBS strategy team in a note. “Looking beyond that, while China’s export growth will likely weaken sharply...

The U.S. dollar commenced the week on a strong note, with the dollar index rising 0.53% to 107.49, boosted by defensive buying as investors weighed in on a spike in COVID-19 cases in China. The dollar index measures the strength of the greenback against a basket of currencies. On Monday, the...

Stablecoins are usually described as the remedy to the volatility of cryptocurrencies. However, Michael S. Barr, vice chair for Supervision for the U.S. Federal Reserve is worried they could “pose a risk to the financial stability” of the country. See Also: TOP...

The United Kingdom Prime Minister Liz Truss has dropped a plan to reduce taxes for the highest earners, giving some much-needed respite for the battered pound. The move comes just 10 days after the plan was announced, in the wake of a rebellion from members of Parliament in her own Conservative...

U.S. Treasury Secretary Janet Yellen said the United States was monitoring developments in Britain after the government announced a fiscal program that dragged the pound to a record low against the dollar. What Happened: The financial turmoil seen in recent days appeared to be confined to...

After the British pound tumbled to its record low on Monday following the U.K. government’s huge tax cut announcements, speculators in the options market are taking positions that indicate the currency will fall to $1 or below, reported Bloomberg. Three-month risk-reversal contracts...