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Forex - U.S. Dollar After Spending Data, Pound Slides on Brexit Vote - Investing.com
Forex - Dollar Rises on Fresh Signs of Chinese Slowdown - Investing.com
Forex - Dollar Rises on Brexit Extension Uncertainty; Lira Struggles - Investing.com
Forex - Dollar Rides Sterling's Slump as Brexit Threequel Vote Ends in Defeat - Investing.com

Forex - U.S. Dollar After Spending Data, Pound Slides on Brexit Vote - Investing.com

Posted: 29 Mar 2019 08:14 AM PDT

Investing.com - The greenback gave up earlier gains by mid-morning in New York on Friday, after data showing only the weakest of bounces in U.S. consumer spending in January.

The , which measures the greenback's strength against a basket of six major currencies, slipped 0.1% to 96.683 as of 10:14 AM ET (14:14 GMT). It had earlier hit a two-week high of 96.907.

, which accounts for more than two-thirds of U.S. economic activity, increased 0.1% in January, following a 0.6% decline in December, its first drop since September 2016.

The data were consistent with other signs of weakness this week from the housing market and a downward revision to fourth-quarter gross domestic product. However, they were offset by a stronger-than-expected reading for consumer sentiment from the and by slightly better-than-expected numbers on for last month.

The dollar rose against the safe-haven yen, with rising 0.2% to 110.74.

Elsewhere, the fell briefly below $1.3000 as Prime Minister Theresa May's EU Withdrawal Agreement failed in the House of Commons for a third time, by a margin of 286-344. The defeat leaves a 'Hard' Brexit with no transitional arrangements on April 12th as the default option.

Elsewhere, the dollar rose another 1.7% against the Turkish lira as the central bank fought short-sellers ahead of municipal elections at the weekend. The loonie was up, with falling 0.6% to 1.3347 and inched up 0.1% to 1.1227.

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Forex - Dollar Rises on Fresh Signs of Chinese Slowdown - Investing.com

Posted: 27 Mar 2019 01:56 AM PDT

Investing.com -- The dollar is higher against most of its peers early Wednesday in Europe as a steady drumbeat of gloomy news about the economic outlook keeps a firm cap on risk appetite.

U.S. housing and consumer confidence data both fell short of expectations Tuesday, and the negative tone was sustained overnight by the 's surprising announcement that its next move in interest rates is more likely to be down than up. The news sent the plummeting by 1.5% against the dollar, and dragged the down in sympathy.

To reinforce the gloom, China said the profits reported by its large industrial companies had slumped 14% year-on-year in the first two months of 2019.

Paradoxically, that news has dented the euro more than the yuan, due partly to the dependence of the euro zone's fortunes on exports to China. At 04:00 AM ET (0800 GMT), the was at $1.1253 against the dollar, just off its lowest level in over two weeks.

The , which measures the greenback against a basket of six major currencies, was at 96.442, up around 0.2% from late Wednesday in the U.S.

In the course of the European morning, confidence surveys of and Italian and Spanish businesses will indicate whether there is any meaningful counterweight to an increasingly gloomy outlook in export-dependent Germany, the region's largest economy.

There will also be a series of speeches by senior European Central Bank officials. President Mario Draghi kicked off a closely-watched conference by repeating that the downside risks to the euro zone economy have increased.

"We are now seeing a more persistent deterioration of external demand. But a "soft patch" does not necessarily foreshadow a serious slump," Draghi said.

was also higher against the euro in early trade ahead of a series of 'indicative votes' in parliament on alternatives to Prime Minister Theresa May's EU Withdrawal Agreement. The votes are due in the evening in London. However, May's deal is not yet dead: a number of hard-line Brexiteers signalled on Tuesday that they would back it rather than risk Brexit being cancelled altogether.

Sterling remains difficult to trade, however, inasmuch as developments that promise a more benign long-term outcome - such as a lengthy delay to, or an outright cancellation of, Brexit - also extend the period of uncertainty that markets have to contend with.

Forex - Dollar Rises on Brexit Extension Uncertainty; Lira Struggles - Investing.com

Posted: 29 Mar 2019 01:56 AM PDT

The dollar is holding on to most of its recent gains in early trading in Europe Friday, supported by fears of an extended period of uncertainty over Brexit that is weighing on both sterling and the euro.

Downbeat comments from President Donald Trump's chief economic adviser Larry Kudlow late Thursday also encouraged some risk aversion. Kudlow told reporters that a trade deal with China could still be months away, even as Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer arrive in Beijing for a new round of talks.

The U.K. House of Commons is set to vote once more on Prime Minister Theresa May's twice-defeated Withdrawal Agreement later Friday, but the initiative seems doomed to failure, lacking the support of the Northern Irish party that May's Conservatives rely on, and of hard-line Conservative Brexiteers themselves.

The most likely outcome of the bill failing is that May will ask the EU for a longer extension to the Brexit deadline of April 12th, accepting that this will mean taking part in EU parliamentary elections in May. It is not clear that there is the necessary unanimous support among EU governments for an extension, so a 'Hard Brexit' on April 12th remains the default scenario.

The pound hit a three-week low against the dollar Thursday as the market digested the implications of a stalemate that couldn't be broken by votes on eight alternative courses of action to the Withdrawal Agreement.

Despite rebounding a little overnight, at 0400 AM ET (0800 GMT), it was down some 0.2% from Thursday's close at $1.3019 against the dollar. Against the euro, it hit a one-week low of 1.1597 after German data for February turned out stronger than expected, providing some rare comfort about the strength of Europe's largest economy.

The , which measures the greenback against a basket of six major currencies, was at a two-week high of 96.822, thanks to safe haven flows at the expense of emerging market currencies such as the Turkish lira and South African rand. The dollar surged by over 4% against the lira on Thursday and is up another 1.7% Friday morning.

Forex - Dollar Rides Sterling's Slump as Brexit Threequel Vote Ends in Defeat - Investing.com

Posted: 29 Mar 2019 01:23 PM PDT

Investing.com - The dollar inched higher Friday as mostly downbeat economic data did little to drown out the narrative of slowing economic growth. But a slump in the pound underpinned the greenback as Prime Minister Theresa May's Brexit deal tasted defeat for the third-straight time.

The , which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.05% to 96.81.

A trio of reports showing a rebound in new home sales, subdued inflation and weaker consumer spending, added somewhat to expectations the Federal Reserve could soon cut interest rates, which would likely exert pressure on the greenback.

The Fed's preferred inflation measure, the personal consumption expenditures (PCE) price index, excluding food and energy, in the 12 months through January, missing the economists' forecast of 1.9%.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, in January, the Commerce Department said.

The Commerce Department also said new home sales to a seasonally adjusted annual rate of . That beat economists' forecasts.

"Clearly the recent drops in mortgage rates have fed through into some increased buying appetite," BMO said in a note clients.

Average 30-year fixed-rate mortgages declined by 22 basis points from 4.28% to 4.06%, resulting in the biggest single-week decline in rates since 2008, according to Freddie Mac's latest Primary Mortgage Survey released on Thursday.

Downside in the dollar, however, was limited by a plunge in sterling as the Withdrawal Agreement, a part of the Brexit deal, was reject by U.K. lawmakers.

Lawmakers voted 344 to 286 to reject the government's withdrawal agreement.

The result of the vote will have "grave" implications, May said. She added: The "legal default" was that the U.K. would leave the EU on April 12.

That raised concerns that a no-deal Brexit could be on the horizon.

But the lawmakers will gather again on Monday to vote on series of options to find a way out of the current political quagmire. The possible Brexit scenarios include a new referendum, revoking Article 50, a no-deal Brexit and a general election.

fell 0.29% to $1.3006 and rose 0.035 to $1.1217.

rose 0.18% to 110.82 as Wall Street rallied amid improved risk sentiment as the S&P nears its biggest quarterly win since the third quarter of 2009.

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