The United States earlier reported that business activity was stable in November, but private sector employment fell, in line with market expectations for an economic slowdown in the fourth quarter.dollar indexIt fell on Friday (24th), closing in the black for the second consecutive week.
In late New York trading, ICE tracks the dollar against six major currencies. dollar index (DXY) fell 0.34% to 103.42, near the 2-1/2-month low hit earlier this week.
After falling 1.9% last week,dollar indexAnother nearly 0.5% drop this week would mark its worst monthly performance in a year, as expectations grow that the Federal Reserve will finish raising interest rates and start cutting them next year.
Michael Brown, market analyst at Trader .”
S&P Global announced that the initial value of the U.S. Composite PMI Output Index in November remained unchanged at 50.7 as moderate growth in the service industry helped offset the contraction in the manufacturing industry. However, the lack of strong order growth has led to companies laying off workers, and the employment index fell to 49.7 from 51.3 in October, falling into contraction territory for the first time since June 2020.
Jane Foley, senior currency strategist at Rabobank, said economic data has provided plenty of evidence of a recession in the United States.
In terms of other major currencies,JPYUp slightly 0.1% to 149.41 JPYAgainst the US dollar, it appreciated 0.1% this week. Japan announced that the national core consumer price index (CPI) increased by 2.9% year-on-year in October, which was higher than the 2% target set by the Bank of Japan (BoJ) for 19 consecutive months, but slightly lower than the 3% forecast by economists polled by Reuters. %.
Core inflation picked up slightly in October, reinforcing investors’ views that the Bank of Japan will remove monetary stimulus soon.
ING economists expect the Bank of Japan to abandon its ultra-loose policy stance next year. “We believe that the trend of government bonds seems to have stabilized, and the Bank of Japan may cancel the yield curve control (YCC) policy as soon as the first quarter of next year. If wage growth continues to accelerate next year, the central bank will start to raise interest rates from the second quarter of next year. “
EURIt rose 0.3% to $1.0937, rising nearly 0.3% on the week.
Germany reported that its third-quarter gross domestic product (GDP) shrank 0.1% from the previous quarter, in line with the preliminary estimate released in late October. However, business confidence improved for the third consecutive month in November, and a series of surveys showed that the recession in Germany may be deeper than Expectations were even shallower and helped offset pessimistic expectations for business activity in France.
GBPIt rose 0.56% to $1.2601, the highest since early September, and rose more than 1.1% this week. Data on Thursday showed that British business activity returned to growth in November, fueling hopes that the country could avoid a recession.
cryptocurrencyIn terms of market,BitcoinIt rose more than 1% to $37,733, its highest level since May 2022.A lotBitcoinandEthereumThe application for issuance of spot ETFs has caused severe damage to the market last year.cryptocurrencyThe market is revitalized.
As of approximately 6:00 Taiwan time on Saturday (25th), price:
- dollar indexReport 103.4359. -0.3125%
- EURExchange rate quote against the US dollar (EUR/USD) 1 EURAgainst US$1.0937. +0.3026%
- GBPExchange rate quote against the US dollar (GBP/USD) 1 GBPagainst US$1.2605. +0.5745%
- Australian dollarExchange rate quote against the US dollar (AUD/USD) 1 Australian dollaragainst USD 0.6581. +0.3660%
- USD vs.Canadian Dollars (USD/CAD) exchange rate quoted at 1.3632 per US dollar Canadian Dollars。-0.4673%
- USD vs.JPY (USD/JPY) exchange rate was quoted at 149.41 per US dollar JPY。-0.1070%
2023-11-24 23:07:48
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