Dollar deepens losses ahead of US retail sales data

2021-10-15 12:44:54 GMT (Economies.com)
Dollar deepens losses ahead of US retail sales data

The US dollar fell against a basket of currencies on Friday, deepening its losses for the third straight day, while on track for the first weekly loss in a month and a half, due to the slowdown in demand, due to a drop in the US T-bond yields, and ahead of key US data on on retail sales during September.

 

The dollar index fell 0.2% to 93.85 points, after opening at 94.03 points, and hit a high at 94.06 points.

 

The index lost 0.1% yesterday, the second daily loss, and hit a week low at 93.75 points, due to a drop in the US Treasury bond yield.

 

The US dollar index fell 0.3% this week, to head for its first weekly loss in a month and a half, due to a slowdown in demand.

 

The 10-year US Treasury yield fell over 4.5% this week due to profit-taking from a 4-month high of 1.636%, in addition to the Federal Reserve minutes.

 

The minutes showed that US monetary policy makers remained divided over the high inflation and the extent of the need for an interest rate hike.

 

At 12:30 GMT, the monthly reading of the retail sales index is expected up by 0.2% in September from 0.7% in August, and the core reading (excluding auto sales) is expected up by 0.5% from a drop by 1.8%.

 
 
 
  Symbol Last Change Chg.%
1.1322
0.0052
0.4618%
1.3323
0.0013
0.0954%
Tadawul
10810.60
-60.02
0.55%
22.862
-0.183
0.794%
67.719
-4.682
6.467%
70.84
-2.60
3.54%
1793.315
8.225
0.461%
 
 
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