Currency recap: Dollar index ends eventful week flat, bounces off 14-month low

seekingalpha09-24

The dollar index closed flat last week at $100.73 in an eventful week, that saw the Fed slashing interest rates by 50 bps along with BOJ and BOE holding interest rates steady. The U.S. Dollar Index (...

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The U.S. Dollar Index (...</p>\n\n<a href=\"https://seekingalpha.com/news/4152013-us-dollar-rebounds-after-feds-giant-50bps-rate-cut\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Currency recap: Dollar index ends eventful week flat, bounces off 14-month low</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCurrency recap: Dollar index ends eventful week flat, bounces off 14-month low\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-24 01:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4152013-us-dollar-rebounds-after-feds-giant-50bps-rate-cut><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The dollar index closed flat last week at $100.73 in an eventful week, that saw the Fed slashing interest rates by 50 bps along with BOJ and BOE holding interest rates steady.  The U.S. Dollar Index (...</p>\n\n<a href=\"https://seekingalpha.com/news/4152013-us-dollar-rebounds-after-feds-giant-50bps-rate-cut\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"USDU","symbol_name":"WisdomTree Bloomberg U.S. Dollar Bullish Fund","start_time":0,"source_url":"https://seekingalpha.com/news/4152013-us-dollar-rebounds-after-feds-giant-50bps-rate-cut","article_id":"2469340126","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1214857151/image_1214857151.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2469340126","pubTimestamp":1727111804,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"The dollar index closed flat last week at $100.73 in an eventful week, that saw the Fed slashing interest rates by 50 bps along with BOJ and BOE holding interest rates steady.  The U.S. Dollar Index (","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"USDU":"WisdomTree Bloomberg U.S. Dollar Bullish Fund","UUP":"美元ETF-PowerShares DB","UDN":"做空美元指数-PowerShares"},"translate_title":"货币回顾：美元指数平盘结束多事的一周，从14个月低点反弹","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UDN":0.9,"USDU":0.9,"UUP":0.9},"content_text":"The dollar index closed flat last week at $100.73 in an eventful week, that saw the Fed slashing interest rates by 50 bps along with BOJ and BOE holding interest rates steady.  The U.S. Dollar Index (DXY) recovered broadly from last week's lows after falling to its lowest point in more than a year on Wednesday. The Dollar Index (DXY) fell as much as 0.7% to $100.21, the weakest level since July 20, 2023, before edging back into positive territory.  The rebound followed an immediate volatile reaction to the Federal Open Market Committee slashing its benchmark interest rate by 50 basis points to 4.75%-5.0% on Wednesday in its first-rate cut in more than four years. The Federal Reserve’s jumbo interest rate cut was priced in by the markets as the move aligned with traders' expectation of a 50-bp rate cut, which had a 59% probability before the announcement, according to the CME FedWatch tool. The dollar initially tumbled after the announcement; however, it was able to pare those losses after Fed Chair Jerome Powell assured investors and said he does not see a recession or an economic slowdown ahead.  Heading into this week, investors would be looking at whether the greenback can make a comeback with PMI releases on Monday and lower than expected activity outlook for the eurozone in September.  Last week’s currency movements: (Sep 16 to Sep 20)  Euro (EUR:USD) +0.35%. Manufacturing PMI in the Euro Area decreased to 44.80 points in September from 45.80 points in August while the Composite PMI decreased to 48.90 points in September from 51 points in August. Pound Sterling (GBP:USD) +0.90%. The Bank of England held its benchmark interest rate steady at 5% on Thursday after kicking off its easing cycle in August. The Monetary Policy Committee voted 8-1 for no change, with one dissent for a quarter-point cut. Japanese Yen (USD:JPY) +2.29%. The Bank of Japan also maintained its key short-term interest rate steady at 0.25% by a unanimous vote on Friday, in line with expectations at its September meeting, after raising it in July.  Chinese Yuan (CNY:USD) +0.77%. Swiss Franc (CHF:USD) -0.68%. Australian Dollar (AUD:USD) +0.89%. Canadian Dollar (CAD:USD) +0.10%. Goldman Sachs Global FX trader said in its weekly note that it continues to expect the US economy to outperform, China and the euro area to underperform and US real returns to remain attractive.  “Given slowing momentum in the labor market and the Fed’s demonstrated willingness to respond more aggressively to that risk relative to peers, the case for a full Dollar reset is weaker,” GS said, adding that it still believes Dollar’s high valuation will not be eroded quickly or easily, but the bar has been lowered a bit.  While JPMorgan Research said it continues to view de-dollarization risks as exaggerated. “Diversification away from the dollar is a growing trend, but we find that the factors that support dollar dominance remain well entrenched and structural in nature,” JPM research said in its note.  During the week, the 10-year yield (US10Y) rose by 11 basis points to 3.74% and the 2-year yield (US2Y) rose 5 points to 3.61%. Looking ahead to this week: After last week’s rate cut announcement, investors would pay close attention to remarks from Fed officials like Atlanta Fed President Raphael Bostic and Minneapolis Fed President Neel Kashkari.  Another data to look out for would be Friday's release of the August Personal Consumption Expenditures (PCE) Price Index which will throw light on the rate of inflation, as well as fresh data on pending home sales, and consumer sentiment surveys. Dollar-Based ETFs: (NYSEARCA:UUP), (NYSEARCA:USDU), and (NYSEARCA:UDN).","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2469340126"}