Dollar stalls ahead of Fed meeting as rate move eyed

Dollar stalls ahead of Fed meeting as rate move eyed”

The U.S. dollar gained slightly against its major rivals in late trading on Monday as market participants await a key meeting of the Federal Reserve.

"There is a realization the market had not fully priced the increased chances of a no-deal Brexit", said Claire Dissaux, head of global economics and strategy at Millenium Global Investments.

A stronger-than-expected USA gross domestic product report on Friday led some investors to doubt whether the Fed will continue easing this year after its Wednesday meeting.

Meanwhile, looking past the Fed meeting, the other major catalyst for USD exchange rates this week will be the publication of the US non-farm payrolls at the end of the session, with an expected slowdown in employment growth likely to dent the US Dollar.

It will announce its decision on whether to adjust interest rates Wednesday afternoon.

The euro was 0.1% lower at $1.111.

"Apple's results will be a good read into trade and the situation with China and if Apple has a good number it would be a stabilizing force for the technology sector", said Craig Hodges, portfolio manager with Hodges Funds in Dallas, Texas.

Because of this the Fed is expected to signal that this month's cut will be "one and done", much to the relief of Dollars investors. The Dow Jones Industrial Average .DJI fell 23.33 points, or 0.09%, to 27,198.02, the S&P 500 .SPX lost 7.79 points, or 0.26%, to 3,013.18 and the Nasdaq Composite .IXIC dropped 19.72 points, or 0.24%, to 8,273.61.

MSCI's All Country World Index of stocks, down by as much as 0.2% on the day, erased some losses to trade 0.05% lower.

The pan-European STOXX 600 index earlier rose 0.03%.

More news: Federal judge dismisses DNC hacking lawsuit against Trump campaign

US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer will meet with Chinese Vice Premier Liu He for talks in Shanghai starting on Tuesday, their first face-to-face meeting since US President Donald Trump and Chinese President Xi Jinping agreed to revive talks late last month. "The euro zone data has been weak of late so if coming United States data such as payrolls figures are strong, the dollar could gain despite a Fed rate cut", said Shinichiro Kadota, senior strategist at Barclays.

"The Fed is most likely going to cut rates by 25bp (basis points)".

Also drawing some attention were U.S.

Oil futures zigzagged in and out of positive territory, whipsawed by Fed expectations and the reaction to talks between Iran and some signatories of its nuclear agreement over the weekend.

The 1.11 level underneath is massive support, so if we were to turn around and break down through there it would of course be a negative sign, perhaps opening up the door to the 1.10 level after that.

The Swiss franc has stabilised after its recent run to two-year highs and was last up 0.1% at 1.1038 versus the euro.

Prices slipped as pessimism over tomorrow's in-person US-China trade talks in Shanghai and slower global economic growth meant the demand for crude oil could slide.

Benchmark 10-year notes last rose 9/32 in price to yield 2.0511%, from 2.081% late on Friday.

The 30-year bond last rose 10/32 in price to yield 2.5871%, from 2.601% late on Friday.

Spot gold was flat at $1,418.00 per ounce. USA gold futures gained 0.16% to $1,421.50 an ounce.

Like this



31 July 2019
Paleontologists find giant dinosaur bone in southwestern France
Alongside the thigh bone, volunteers with the National Museum of Natural History in Paris also uncovered a giant pelvis bone from the same layer of clay.

31 July 2019
Arsenal close to agreement with Celtic over Tierney move
Meanwhile, Arsenal are close to completing a club record £72m ($87m) signing of Ivory Coast winger Nicolas Pepe from Lille. Liverpool's Andrew Robertson also rated the abilities of his Scotland global team-mate.

31 July 2019
India's Parliament approves bill ending instant divorce for Muslims
The opposition had blocked the bill for more than a year, as the ruling party lacked majority support in the upper house. Jilani said a petition against the law had almost 50 million signatories across India.

31 July 2019
Tropical Storm Erick Upgraded To Hurricane, Tropical Storm Flossie Not Far Behind
Yes, it looks very doom and gloom, but there's good news for Hawaii: The storm is not expected to make landfall. Individual waves may be more than twice the significant wave height, it said in its latest hurricane warning.

31 July 2019
Israel approves Palestinian construction in West Bank
Israeli settlements in the West Bank are seen as illegal under global law, although Israel disputes this. Palestinians want to establish a state in the occupied West Bank , East Jerusalem and the Gaza Strip.

31 July 2019
Shawn Mendes and Camila Cabello`s lip lock sets the internet on fire
" Camila had just got out of a relationship and Shawn was in the middle of a massive tour". In fact, they're reportedly "committed to working on a relationship".

31 July 2019
These Three Liverpool Stars Nominated For Best FIFA Men’s Player Award
Earlier on Wednesday, FIFA announced the nominees for the Best Women's Player as well as Best Men's Coach and Best Women's Coach. A defender has not won a men's world player of the year award since Italy's Fabio Cannavaro picked up the Ballon d'Or in 2006.

31 July 2019
Xbox Live Games with Gold line-up for August announced
Since then Connor has come to love all things nerd culture, with a passion for Playstation, third-person shooters, and JRPGs. Randomized levels and an "endless dungeon" unlocked after completing the main game ensure a long-lived gameplay experience.

31 July 2019
Karan Johar party: Deepika-Ranbir-Vicky were on drugs, claims MLA
Responding to his freakish tweet, Congress Leader Milind Deora , refuted the claims while demanding an apology. Ranveer is shooting for the Kabir Khan's '83 in London, while Alia was in Ooty, shooting for Sadak 2.

31 July 2019
Amazon plans imminent launch of online food delivery service in India
With this new service, Amazon is likely to give a competition to the popular online food delivery apps like Swiggy and Zomato. Amazon has been competing with top food delivery platforms like Swiggy and Zomato to step into the food delivery business.