US Dollar Rises Early Tuesday Ahead of Consumer Sentiment, Inflation Expectations, Fed Appearances-April 2024-www.financetom.com

US Dollar Rises Early Tuesday Ahead of Consumer Sentiment, Inflation Expectations, Fed Appearances

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

US Dollar Rises Early Tuesday Ahead of Consumer Sentiment, Inflation Expectations, Fed Appearances

Nov 12, 2024 7:01 PM

07:38 AM EST, 11/12/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Tuesday ahead of the release of the RealClearMarkets/TIPP consumer sentiment reading, the first for November, at 10:00 am ET and the New York Federal Reserve's inflation expectations report for October at 11:00 am ET.

Earlier Tuesday, the National Federation of Independent Business reported that small business sentiment improved in October, reflecting improvements in almost all of the index components. However, the two biggest gains were in the outlooks for economic improvement and sales, both of which still indicated more pessimism than optimism and the uncertainty index rose to its highest level on record.

Fed officials are back on the speaking circuit Tuesday, starting with Fed Governor Christopher Waller at 10:00 am ET and followed by Richmond Fed President Tom Barkin at 10:15 am ET.

Minneapolis Fed President Neel Kashkari is set to speak at 2:00 pm ET and later, Philadelphia Fed President Patrick Harker has an appearance at 5:00 pm ET. Barkin has another second appearance at 5:30 pm ET.

A quick summary of foreign exchange activity heading into Tuesday:

EUR/USD fell to 1.0615 from 1.0656 at the Monday US close and 1.0663 at the same time Monday morning. Eurozone economic sentiment fell unexpectedly in November according to data released earlier Tuesday. The next European Central Bank meeting is scheduled for Dec. 12.

GBP/USD fell to 1.2822 from 1.2867 at the Monday US close and 1.2888 at the same time Monday morning. UK earnings growth accelerated in September while jobless claims and the unemployment rate both increased in the same month. Bank of England Chief Economist Huw Pill said that the data show UK inflation pressures remain elevated, according to Reuters. The next Bank of England meeting is scheduled for Dec. 19.

USD/JPY rose to 154.1468 from 153.6439 at the Monday US close and 153.7907 at the same time Monday morning. Japanese machine tool orders accelerated in October according to data released overnight. The next Bank of Japan meeting is scheduled for Dec. 18-19.

USD/CAD rose to 1.3954 from 1.3926 at the Monday US close and 1.3930 at the same time Monday morning. Canada building permits data for September are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for Dec. 11.

Previous page： Zoomed Out | Critical Minerals — why India's current strategy to become self-reliant is so vital Next page： In fight to curb climate change, a grim report shows world is struggling to get on track

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

Zoomed Out | Critical Minerals — why India's current strategy to become self-reliant is so vital

Nov 29, 2023

Internationally, there are genuine security concerns related to the criticality in building more diverse and dependable value chains for critical minerals, about their environmental and social sustainability, and technological challenges. While, India has taken the right steps for creating an ecosystem for accelerated exploration and production of critical and new age minerals, observes FICCI Mining Committee Co-Chair Pankaj Satija.

In fight to curb climate change, a grim report shows world is struggling to get on track

Nov 14, 2023

The State of Climate Action report released on Tuesday by the World Resources Institute, Climate Action Tracker, the Bezos Earth Fund and others looks at what's needed in several sectors of the global economy power, transportation, buildings, industry, finance and forestry to fit in a world that limits warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) over pre-industrial times, the goal the world adopted at Paris in 2015. The globe has already warmed about 1.2 degrees Celsius (2.2 degrees Fahrenheit) since the mid-19th century.

India looking into 'freak' incidents like damage to Sikkim's Chungthang dam: RK Singh

Oct 18, 2023

Stressing on the need to have quick ramp up and ramp down energy sources for grid balancing, the minister described hydroelectric power's role as essential in the path to energy transition as wind energy is intermittent and the sun doesn't shine 24×7.

JPMorgan has a new way to gauge its green progress

Nov 15, 2023

As the largest energy banker, JPMorgan is a frequent target of criticism over Wall Street’s role in the climate crisis. At the same time, the bank is a leading US arranger of green bonds, making it vulnerable to Republicans seeking to protect the fossil fuel industry.