Latest news with #U.S.DollarIndex
Jordan News
2 days ago
- Business
- Jordan News
U.S. Dollar Rises Against Major Currencies - Jordan News
U.S. Dollar Rises Against Major Currencies The U.S. dollar rose on Thursday, supported by increased demand for safe-haven assets, as traders assessed the cautious tone of Federal Reserve Chair Jerome Powell regarding inflation. اضافة اعلان According to Bloomberg News, the U.S. Dollar Index—which measures the performance of the dollar against a basket of six major currencies—climbed 0.11% to reach 99, nearing a weekly gain of about 0.9%, marking its strongest weekly performance since late January. The euro fell to its lowest level in a week, declining 0.25% in recent trading to $1.1455, on track for a 0.8% weekly loss—its largest since February. The British pound also dropped by 0.14% to $1.3403 ahead of the Bank of England's policy decision, which is expected to keep interest rates unchanged. The Swiss franc traded at 0.81995 against the dollar ahead of the Swiss National Bank's monetary policy decision. In the latest trading, the Japanese yen stood at 145.13 per dollar. The Australian dollar fell by up to 0.5%, and by 0.3% in the latest trades to $0.6489. The New Zealand dollar dropped 0.5% to $0.5998. Emerging market currencies also suffered losses, with the South Korean won down by 1%.
Mint
2 days ago
- Business
- Mint
Bitcoin price slips. Watch the dollar for clues on where cryptos go next.
Bitcoin was edging lower on Thursday, the latest sign that the cryptocurrency isn't getting much of a boost from the Israel-Iran war. The world's largest crypto was down 0.1% over the past 24 hours to $104,894, according to CoinDesk data. It's now trading about 7% below the record high it hit last month. Other cryptos were also sliding. Ethereum fell 0.7%, XRP slid 0.4%, and Solana dropped 1.7% over the past 24 hours, per data from Kraken. Digital-asset bulls often argue Bitcoin acts as a safe haven like gold or U.S. Treasury bonds, but it's not been living up to that reputation since the conflict between Israel and Iran began last week. Bitcoin has 'failed to capitalize on the latest rise in risk appetite in financial markets," Alex Kuptsikevich, chief market analyst for the foreign exchange brokerage FxPro, said in a note earlier this week. However, he added that the crypto could still serve as a hedge in times of macroeconomic uncertainty, particularly if sweeping tariffs carry on weighing on the dollar. 'If the U.S. Dollar Index continues to fall due to the White House's tariff policy, Bitcoin will grow," he wrote. The U.S. Dollar Index, which tracks the strength of the greenback against a weighted basket of other currencies, is on pace for one of its worst first halves on record, with investors pivoting away from the buck due to worries that tariffs could slow down growth.
See - Sada Elbalad
4 days ago
- Business
- See - Sada Elbalad
Random Pricing and Declining Dollar Pressure Local Gold Market
Waleed Farouk Gold prices in the local markets declined on Tuesday, despite relative stability in global ounce prices, amid escalating tensions between Iran and Israel and anticipation of the U.S. Federal Reserve's decision regarding interest rates. Gold prices dropped by EGP 20 during Tuesday's trading, compared to the end of yesterday's session, with the price of 21-karat gold falling to EGP 4,810 per gram. Meanwhile, the global ounce price remained stable at $3,385. The price of 24-karat gold recorded EGP 5,497 per gram, while 18-karat gold stood at EGP 4,123, and 14-karat gold was priced at approximately EGP 3,207. The price of the gold pound (eight grams of 21-karat gold) reached EGP 38,480. On Monday, local gold prices had already declined by EGP 70. The 21-karat gram opened at EGP 4,900 and closed at EGP 4,830. Globally, the ounce dropped by $45, starting the day at $3,430 and ending at $3,385. The decline in local gold prices, despite the global ounce stability, was driven by the depreciation of the U.S. dollar in local banks, in addition to the speculative and random pricing practices that dominated the local market in recent days. This has widened the price gap between local and global markets to nearly EGP 200 per gram. On the international front, markets witnessed relative stability, driven by ongoing safe-haven demand due to rising geopolitical tensions in the Middle East, and ahead of the Federal Reserve's interest rate decision. Military escalation between Iran and Israel intensified after American media outlets reported the assassination of senior Iranian Revolutionary Guard commander Ali Shadmani by the Israeli army. In retaliation, Iranian forces launched missile strikes targeting the Mossad headquarters, according to CNBC. In addition to geopolitical unrest, the declining U.S. Dollar Index has supported gold prices. A weaker dollar encourages investors to increase their gold holdings since gold is priced in dollars, making it more attractive when the greenback loses value. Investors are now awaiting the Federal Reserve's monetary policy announcement on Wednesday, with expectations that interest rates will remain unchanged within the current range of 4.25%–4.50%. The Federal Open Market Committee (FOMC) is expected to outline its future monetary policy direction during Fed Chair Jerome Powell's press conference, alongside the release of the "dot plot," which reflects committee members' projections for future interest rate paths. A recent study by the World Gold Council, conducted between February 25 and May 20, 2025, with participation from 73 central banks, revealed that 76% of respondents plan to increase their gold holdings over the next five years, up from 69% in last year's survey. Additionally, 95% of participants expect global gold reserves to grow over the coming year — the highest percentage since the study's inception. The study also indicated a growing trend toward reducing the share of U.S. dollars in central bank reserves, with around 75% of participants intending to cut their dollar holdings over the next five years, compared to 62% in the 2024 survey. Meanwhile, Citibank has revised its short- and long-term forecasts for gold prices downward, indicating that the precious metal could fall below $3,000 per ounce by late 2025 or early 2026, due to weakening investment demand and improving global economic growth prospects, according to a research note released on Monday. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
See - Sada Elbalad
5 days ago
- Business
- See - Sada Elbalad
Profit-taking pushes gold lower amid market anticipation of U.S. Federal Reserve meeting
Waleed Farouk Gold prices declined in local markets on Monday, in tandem with a drop in global ounce prices, after the precious metal briefly touched a two-month high. The pullback was driven by profit-taking, even as geopolitical tensions in the Middle East persist and markets await the outcomes of the upcoming G7 leaders' summit and the U.S. Federal Reserve's monetary policy meeting later this week. Gold prices in local markets dropped by EGP 50 during Monday's trading session, compared to closing prices on Saturday evening. The price of 21-karat gold recorded EGP 4,850 per gram, while the global ounce price fell by $34 to settle at $3,415, after reaching a two-month high earlier in the session at $3,453. The 24-karat gold gram recorded EGP 5,572, while 18-karat gold reached EGP 4,179. The 14-karat gold gram was priced at EGP 3,250, and the gold pound coin was sold at EGP 39,000. Last week, local gold prices rose by EGP 240, as 21-karat gold opened the week at EGP 4,660 and closed at EGP 4,900. Globally, gold gained $120 per ounce during the week, moving from $3,310 to $3,430. In global markets, gold prices posted a notable increase earlier today, with the ounce reaching $3,453 — its highest level in two months — before slightly retreating due to profit-taking by investors. Gold continues to be supported by concerns over escalating regional tensions, although profit-taking pressure has curbed further sharp gains. Meanwhile, silver prices in local markets remained stable, despite slight increases in the global ounce price, which was supported by similar safe-haven flows that are currently driving gold. Expectations that the Federal Reserve may adopt a more dovish monetary policy stance later this year are also playing a role, although a stronger U.S. Dollar Index and renewed investor risk appetite in equities have limited silver's upward momentum. Looking ahead, markets are closely watching the upcoming U.S. Federal Reserve decision scheduled for Wednesday. The Fed is widely expected to keep interest rates within the current range of 4.25%–4.50%. The Federal Open Market Committee (FOMC) will also present its forward guidance through Fed Chair Jerome Powell's press conference and the release of the famous 'dot plot,' which outlines individual committee members' views on the path of interest rates. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
Yahoo
13-06-2025
- Business
- Yahoo
Currency ETFs to Play With Dollar on the Ropes
The greenback is on a gradual decline, amid mounting uncertainty over the Trump administration's unpredictable tariff policies, which are fueling investor anxiety and weighing on the greenback's outlook. The U.S. Dollar Index (DXY) has been trending downward since its early January peak. According to TradingView, DXY has fallen 3.83% over the past month and 9.85% year to date. Increasing volatility in the world's biggest economy has decreased investor appetite for U.S. assets, exerting pressure on the country's economy and the greenback. A redirection of funds away from the United States reduces demand for the greenback, weakening it as a result and reducing its value. Below, we take a closer look at additional factors driving investors away from the greenback. De-dollarization efforts in Asia are gaining pace, driven by a combination of geopolitical volatility and a growing preference for currency hedging across the region. According to ING FX strategist, Francesco Pesole, the Trump administration's unpredictable trade policies and the greenback's depreciation are likely driving the transition away from the dollar, as quoted on CNBC. According to CNBC, the dollar's share in global foreign exchange reserves fell to 57.8% in 2024 from over 70% in 2000. Per Lin Li, head of global markets research for Asia at MUFG, as quoted on CNBC, a growing number of Asian nations are shifting toward local currencies in cross-border trade as they look to minimize exposure to dollar volatility. Along with ASEAN economies, BRICS nations such as India and China are advancing their own cross-border payment systems. According to Nomura, as quoted on CNBC, de-dollarization is gaining pace as Asian investors increasingly hedge their greenback exposure. By hedging their dollar exposure, investors sell the greenback and purchase local or alternative currencies, boosting demand for those currencies and strengthening them relative to the dollar. Relative to the greenback, the Euro surged to its highest level since 2021 as investors saw it as a safe haven amid persistent geopolitical risks and concerns over the U.S.-China trade deal. According to Reuters, the euro's strength was partly attributed to a hawkish ECB stance, while traditional safe havens like the Swiss franc and Japanese yen also gained ground. Softer-than-expected U.S. inflation data boosted investor confidence that the Fed could begin cutting interest rates as early as September, according to Reuters. Per the CME FedWatch tool, markets are anticipating a 72.7% likelihood of a rate cut in September. The value of the greenback is closely related to the Fed's monetary policies. The greenback's value tends to move inversely with interest rate adjustments by the Fed. Interest rate cuts by the Fed make the dollar less attractive to foreign investors, as this weakens it. The dollar approached a 2025 low as investor demand shifted away from the greenback amid escalating geopolitical tensions, after the United States ordered some embassy staff to leave Baghdad and authorized military families to exit the Middle East, following Iran's threat to target U.S. bases if nuclear talks break down. Investors can look to hedge themselves, especially in the short term, against the likelihood of the greenback depreciating, and diversify their portfolios by increasing their exposure to the following mentioned funds. WisdomTree Emerging Currency Strategy Fund employs an active strategy and provides exposure to various emerging currencies worldwide relative to the U.S. dollar, making it a quality fund to invest in. The fund has exposure to the currencies of South Africa, Mexico, South Korea, Brazil, Indonesia and Turkey, which comprise the top six countries, among others. CEW charges an annual fee of 0.55%. WisdomTree Emerging Currency Strategy Fund has gained 4.45% over the past three months and 7.03% over the past year. Invesco DB U.S. Dollar Index Bearish Fund offers exposure to a basket of currencies relative to the greenback, rising when the dollar depreciates. UDN is an appropriate option for investors with a bearish outlook on the U.S. dollar. Invesco DB U.S. Dollar Index Bearish Fund has gained 8.67% over the three months and 7.40% over the past year. UDN charges an annual fee of 0.78%. Investors with a bearish outlook on the U.S. dollar can also consider the following funds that provide exposure to the basket of currencies tracked by the U.S. Dollar Index, relative to the greenback, rising when the dollar depreciates. Investors can consider Invesco Currencyshares Japanese Yen Trust FXY, Invesco CurrencyShares Euro Currency Trust FXE and Invesco CurrencyShares Swiss Franc Trust FXF. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Invesco CurrencyShares Japanese Yen Trust (FXY): ETF Research Reports Invesco CurrencyShares Euro Trust (FXE): ETF Research Reports Invesco CurrencyShares Swiss Franc Trust (FXF): ETF Research Reports WisdomTree Emerging Currency Strategy ETF (CEW): ETF Research Reports This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
