By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Philippine president’s allies on course for most available Senate seats in election 
    Philippine president’s allies on course for most available Senate seats in election 
    May 12, 2025
    Zelenskyy agrees to meet Putin
    Zelenskyy agrees to meet Putin
    May 12, 2025
    Pope Leo calls for end to polarising ‘war of words’ in address to media | World News
    Pope Leo calls for end to polarising ‘war of words’ in address to media | World News
    May 12, 2025
    Assessing Putin and the ‘Axis of Authoritarians’
    Assessing Putin and the ‘Axis of Authoritarians’
    May 12, 2025
    Kurdish PKK to disband, potentially ending decades of conflict in Turkiye | News
    Kurdish PKK to disband, potentially ending decades of conflict in Turkiye | News
    May 12, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Is VET poised for a 300% surge?
    Is VET poised for a 300% surge?
    May 12, 2025
    Cardano bulls set eyes on  as institutional adoption grows amid BTC integration
    Cardano bulls set eyes on $1 as institutional adoption grows amid BTC integration
    May 12, 2025
    Sonic Labs Announces M Token Sale to Galaxy for U.S. Expansion
    Sonic Labs Announces $10M Token Sale to Galaxy for U.S. Expansion
    May 12, 2025
    นักวิเคราะห์ลั่นอย่าพลาด Dogecoin จะเด้งแบบพาราโบลาสัปดาห์หน้า!
    นักวิเคราะห์ลั่นอย่าพลาด Dogecoin จะเด้งแบบพาราโบลาสัปดาห์หน้า!
    May 12, 2025
    Zcash (ZEC) Tops Key Supply Zone. What Next for the Privacy-Focused Token?
    Zcash (ZEC) Tops Key Supply Zone. What Next for the Privacy-Focused Token?
    May 12, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Dollar keeps tight ranges ahead of Fed, jobs data
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Business > Dollar keeps tight ranges ahead of Fed, jobs data
Dollar keeps tight ranges ahead of Fed, jobs data
Business

Dollar keeps tight ranges ahead of Fed, jobs data

Published January 30, 2024
Share
4 Min Read
SHARE

TOKYO : The dollar held narrow ranges against its major peers on Tuesday, as traders awaited the Federal Reserve’s monetary policy decision for clues on when the U.S. central bank might cut rates.

In the meantime, jobs opening data from the U.S. Department of Labor Statistics due later in the day will act as a preview to the closely watched payroll report to be released on Friday.

The dollar was steady in the Asian morning, with market participants moving cautiously ahead of the two-day FOMC meeting that kicks off on Tuesday.

While the Fed is expected to hold interest rates, the focus on the tone that Fed Chair Jerome Powell strikes at the press conference on Wednesday and any hints of rate cuts in the near future.

Markets are currently pricing in a 46.6 per cent chance that the U.S. central bank will begin cutting in March, dropping from 73.4 per cent a month ago, according to the CME Group’s FedWatch Tool, as data reinforces views that economic growth remains solid.

“I suspect that the FOMC meeting will not be as dovish as current market pricing suggests,” said Matt Simpson, senior market analyst at City Index.

“If recent Fed comments are anything to go by, the Fed are unlikely to release a dove into the crowd – and that risks a bounce for the U.S. dollar and yields.”

U.S. job opening figures on Tuesday will kick off a week of domestic jobs data, culminating in a key U.S. payrolls report for January on Friday. The data will give another indication of whether the world’s largest economy remains strong after the Fed’s aggressive hiking campaign.

The euro zone will also offer another peek under the economic hood with flash GDP data for the fourth quarter published on Tuesday, but expectations are for a much weaker outlook than its American counterpart.

Meanwhile, European Central Bank policymakers on Monday disagreed on the exact timing of a cut or the trigger for action, although that hasn’t stopped traders from fully pricing a move in April.

The euro was mostly unchanged at $1.0838.

Sterling was last trading at $1.2716, holding firm ahead of the Bank of England’s monetary policy meeting this week.

Elsewhere, the dollar gave up 0.15 per cent against the yen at 147.24 per greenback.

Japan’s jobless rate fell to 2.4 per cent in December from the previous month, government data showed on Tuesday, just under economists’ median forecast of 2.5 per cent in a Reuters poll.

“From the BOJ (December) minutes, policymakers are increasingly confident about the investment outlook due to higher corporate profitability, though there is still lingering uncertainty on the pace of wage gains,” said Wei Liang Chang, currency and credit strategist at DBS.

“An adjustment to NIRP (negative interest rate policy) is thus more likely in Q2 following the spring wage negotiations, and dollar/yen would be more driven by the Fed than any expectations of a policy shift by the BOJ in the short-term.”

In cryptocurrencies, bitcoin rose 0.22 per cent to $43,275.63.

#Dollar #tight #ranges #ahead #Fed #jobs #data

TAGGED:aheadDatadollarFedjobsRangestight
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Nadal’s 2007 French Open winning racket sells for 8k at auction Nadal’s 2007 French Open winning racket sells for $118k at auction
Next Article John Pilger, high-profile journalist who exposed abuses, dies at 84 John Pilger, high-profile journalist who exposed abuses, dies at 84
- Advertisement -

Latest Post

Philippine president’s allies on course for most available Senate seats in election 
Philippine president’s allies on course for most available Senate seats in election 
World News
Is VET poised for a 300% surge?
Is VET poised for a 300% surge?
Cryptocurrency
Cardano bulls set eyes on  as institutional adoption grows amid BTC integration
Cardano bulls set eyes on $1 as institutional adoption grows amid BTC integration
Cryptocurrency
Zelenskyy agrees to meet Putin
Zelenskyy agrees to meet Putin
World News
Sonic Labs Announces M Token Sale to Galaxy for U.S. Expansion
Sonic Labs Announces $10M Token Sale to Galaxy for U.S. Expansion
Cryptocurrency
Pope Leo calls for end to polarising ‘war of words’ in address to media | World News
Pope Leo calls for end to polarising ‘war of words’ in address to media | World News
World News
- Advertisement -

You Might Also Like

S&P 500, Dow gain on boost from Cisco; investors assess Fed minutes By Reuters
Business

S&P 500, Dow gain on boost from Cisco; investors assess Fed minutes By Reuters

August 17, 2023
Bellway consulting on proposals to cut 90 jobs as housebuilder hit by slump in demand
Business

Bellway consulting on proposals to cut 90 jobs as housebuilder hit by slump in demand

August 8, 2023
RMT announces Saturday rail strikes in August and September
Business

RMT announces Saturday rail strikes in August and September

August 12, 2023
Shopify hikes price of Plus subscription (SPOT)
Business

Shopify hikes price of Plus subscription (SPOT)

February 9, 2024

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?