Dollar falls to 3-week low ahead of Jerome Powell speech

2021-10-22 13:20:57 GMT (Economies.com)
Dollar falls to 3-week low ahead of Jerome Powell speech

The US dollar fell against a basket of currencies on Friday, near a 3-week low, to head for the second daily loss, ahead of key US data and and a speech from the Federal Reserve Chairman Jerome Powell.

 

The dollar index fell 0.2% to 93.58 points, after opening at 93.75 points, and hit a low at 93.78 points.

 

The index gained 0.2% yesterday, and rebounded from the 3-week low hit earlier, thanks to the weekly unemployment claims data.

 

The greenback lost 0.4% so far this week, on track for the second straight weekly loss, due to a slowdown in demand, especially after recent statements by several Federal Reserve members.

 

Two members of the Federal Reserve said on Wednesday that while the Fed must start cutting its stimulus measures, it is too early for an interest rate hike.

 

At 13:45 GMT, the flash manufacturing PMI reading is expected to reach 60.5 points in October from 60.7 points in September, and the flash services PMI is expected to reach 55.3 from 54.9.

 

At 15:00 GMT, Jerome Powell will deliver a speech on monetary and financial stability challenges to central banks in the wake of COVID-19.

 
 
 
  Symbol Last Change Chg.%
1.1313
0.0042
0.3740%
1.3315
0.0005
0.0379%
Tadawul
10810.60
-60.02
0.55%
22.885
-0.160
0.694%
68.718
-3.683
5.087%
72.22
-1.22
1.66%
1794.055
8.965
0.502%
 
 
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