SINGAPORE : The dollar eased on Tuesday after rallying overnight as strong U.S. economic data reinforced expectations that the Federal reserve will hike interest rates again in May, while investors awaited data from China that will highlight the extent of the recovery of the world's second biggest economy.
The dollar index, which measures the currency against six major rivals, fell 0.039 per cent to 102.05, after rising 0.5 per cent overnight.
"The dollar can remain sensitive to the strength, or not, of the economic data as the Fed likely nears the end of their tightening cycle," said Kristina Clifton, an economist at Commonwealth Bank of Australia. Investor focus will be on China's first quarter GDP data due later in the day to asses how swiftly the country's economy has recovered after it ended strict COVID curbs in December. Economic growth is expected to have gathered pace from the pandemic slump, although headwinds persist and the outlook is expected to be a bumpy affair.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dollar rebounds on higher expectations for Fed hike in MaySINGAPORE : The dollar bounced from a one-year low on Monday as resilience in core U.S. retail sales, a rise in short-term inflation expectations and impressive Wall Street bank earnings raised market expectations for an interest rate hike in May.While U.S. retail sales fell more than expected in March, s
Read more »
Singapore's search for missing anchors: How ships lose their metal and why they are a threat to seabedSearch for missing metal: How ships lose their anchors and why they are a threat to Singapore's seabed
Read more »
Tesla expands discounts with price cuts in Europe, Singapore, IsraelSINGAPORE/BERLIN (Reuters) -Tesla Inc on Friday slashed prices for its electric vehicles in Europe, Israel and Singapore, expanding a global discount drive it began in China in January while raising concerns about its industry-leading profit margin. Tesla last week reported first-quarter deliveries up just 4% from the previous quarter despite offering discounts in the United States, China, Japan, Australia and South Korea aimed at spurring demand. Days after releasing the disappointing delivery data, Tesla announced its fifth vehicle price reduction this year in the U.S. market, as Washington prepares to introduce tougher standards that will limit EV tax credits.
Read more »
Yellen says sanctions may risk hegemony of US dollarWASHINGTON: Economic sanctions imposed on Russia and other countries by the United States put the dollar's dominance at risk as targeted nations seek out an alternative, Treasury Secretary Janet Yellen said on Sunday (Apr 16). 'There is a risk when we use financial sanctions that are linked to the role of
Read more »
Hijacked Singapore-registered ship found; all crew members reported safeABIDJAN - A hijacked Singapore-registered oil tanker has been recovered and escorted to Abidjan port in Ivory Coast on Saturday (April 15), five days after it was captured by pirates in the Gulf of Guinea, the Ivorian military said. On Tuesday, Singapore's port authority said the tanker had been boarded by 'unidentified persons' about 300 nautical miles (555 km) off...
Read more »
Missing Singapore-registered tanker Success 9 located near Ivory Coast; crew safeSINGAPORE — A Singapore-registered tanker which has been uncontactable since it was boarded by 'unidentified persons' earlier this week has been found in waters off Ivory Coast, the Maritime and Port Authority of Singapore (MPA) said on Sunday (April 16).
Read more »