SINGAPORE : The dollar advanced on Thursday after strong U.S. retail sales data underpinned the resilience of the world's largest economy, cementing the case that the Federal Reserve still has further to go in tightening rates.Elsewhere, the Australian dollar slid after data on Thursday showed that employ
SINGAPORE : The dollar advanced on Thursday after strong U.S. retail sales data underpinned the resilience of the world's largest economy, cementing the case that the Federal Reserve still has further to go in tightening rates.
"The readings for January have really undershot market expectations," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. The greenback surged on the back of the data release and clung to most of those gains on Thursday, with the U.S. dollar index last 0.07 per cent higher at 103.87, after hitting a near six-week top of 104.11 in the previous session."The U.S. economy continues to operate well. There's very strong labour market data coming through, and the consumers are well supported," said Jarrod Kerr, chief economist at Kiwibank."We do think the Fed's got a little bit more work to do.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore Budget 2023 Updates | Yahoo Singapore | Yahoo Singapore
Read more »
Dollar eases as inflation in focus, BOJ governor nomination awaitedSINGAPORE : The dollar treaded water on Tuesday as investors braced for an highly anticipated inflation report, while the yen strengthened ahead of the expected announcement of surprise pick Kazuo Ueda as the next Bank of Japan governor. Markets are looking to the U.S. consumer price index (CPI) data for
Read more »
Dollar finds friends after sticky US inflation readoutSINGAPORE : The dollar found some support on Wednesday after stubbornly high U.S. inflation suggested interest rates are going to remain high for longer than investors had expected.Headline CPI was 0.5 per cent in January mostly due to higher rental and food costs. That was in line with forecasts, though
Read more »
Asia stocks fall, dollar stands firm after sticky US CPIHONG KONG : Asian stocks slipped while the U.S. dollar was steadfast on Wednesday, following U.S. inflation data and remarks from central bank officials that have investors worrying interest rates are going to be higher for longer.Headline U.S. CPI came in at 6.4 per cent year-on-year for January, a bit h
Read more »
Lovey-dovey ways to celebrate Valentine's Day in SingaporeBored of the same old flowers and dinner date? This Valentine's Day, impress your other half with a dreamy evening at Chijmes Hall, where you'll be serenaded by the talented Vocalise String Quartet. Or if your couple resolution was to get fit for 2023, then work up a sweat at PAssion Wave's kayaking tryouts! Read on, pick an activity (or...
Read more »
Man complains that the new staff he hired is being paid more than him - Singapore NewsSINGAPORE: A man who said that he had been employed the longest in his company also added that the new staff he hired was paid more than he was. In an anonymous post to popular confessions page SGWhispers, a man complained that the new staff member he brought onboard received a higher salary. “How do …
Read more »