05/02/ · It would be its second rate cut in three months. Australia's dollar dropped even as benchmark borrowing costs rose to an year high of 7 percent. The Aussie dollar traded down 15/03/ · The dollar lost ground in the DXY on Friday, and is set to fall lower considering the moves in early Asia on Monday. The Fed cut its key interest rate by a full percentage point to near zero Previous Daily High: 31/10/ · * Market participants see further U.S. rate cuts possible * Euro zone economic growth steady over past quarter * U.S. consumer spending rose
FOREX-Euro drops; ECB rate cuts seen after weak data | Reuters
By Reuters Staff. NEW YORK, Feb 5 Reuters - The euro slid against most major currencies on Tuesday as dismal euro zone service sector data fueled expectations the European Central Bank might follow the United States in cutting interest rates. The dollar pared early U. gains versus the yen after a report showed a sharp drop in activity in the U. service sector as well in January. The weak data reinforced fears the economy is slowing even as the Federal Reserve cuts rates aggressively to rate cuts forex drop growth, rate cuts forex drop.
Germany, Spain and Italy registered contractions. For details, see [ID:nL]. A separate report showed euro-zone retail sales defied expectations of a monthly rise in December and fell, underscoring a slowing economy. In late morning trading in New York, the euro was down about 1. The euro's weakness against the dollar helped lift the greenback across the board despite the weak Rate cuts forex drop. service sector data.
The dollar index, a measure of the U. currency's value against a basket of six currencies, was up 1. DXYon track for its rate cuts forex drop one-day percentage advance since mid-December and moving further away from two-month lows struck last week. The ECB meets to set interest rates on Thursday and is expected to keep them on hold at 4 percent, rate cuts forex drop.
Against the yen, the dollar traded 0. The U. currency gave up almost all its gains after the dismal showing in the Institute for Supply Management's non-manufacturing index. The index plummeted in January to levels not seen since the recession.
economy and fuel a recovery later in the year. The Fed has already slashed rates by basis points and is seen cutting at least another 75 by the end of the year. Futures markets expect the ECB to cut rates by 50 basis points by the third quarter and are split on a further quarter-percentage-point easing before the end of the year.
The Bank of England also meets to set rates on Thursday and is expected to cut borrowing costs a quarter of a percentage point to 5. It would be its second rate cut in three months. Australia's dollar dropped even as benchmark borrowing costs rose to an year high of 7 percent. The Aussie dollar traded down 1. Analysts said trading on Tuesday showed little impact from the race to be a nominated candidate in the U. presidential election. Twenty-four of the 50 states were holding nominating contests for the Democratic and Republican parties, and the end of the day, known as Super Tuesday, could even see clear winners for the final run to the November election.
Additional reporting by Steven C. Johnson Reporting by Nick Olivari and Vivianne Rodrigues. Editing by Richard Satran. Our Standards: The Thomson Reuters Trust Principles. US Dollar Report Updated. By Reuters Staff 4 Min Read, rate cuts forex drop. for-phone-only for-tablet-portrait-up for-tablet-landscape-up for-desktop-up for-wide-desktop-up.
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, time: 7:18EUR/USD Drops After FOMC Slashes Rates, Doesn’t Promise More Cuts
31/10/ · The Fed on Wednesday lowered its policy rate by a quarter of a percentage point to a target range of % to %. It also dropped a previous reference in its policy statement that it would "act 03/11/ · In his first decision as the president of the ECB, Mario Draghi decided to cut the interest rates It wasn’t clear if a rate cut would indeed come or if Draghi would avoid this step in the first meeting 08/12/ · Czech prices drop and exports plunge, rate cuts nearer. Czech prices drop and exports plunge, rate cuts nearer. Breaking News. Quotes. All Instrument Types. Global stocks drop
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