In Europe, futures on the Euro Stoxx 50 declined by 0.4% while in Asia, Hong Kong’s Hang Seng index dropped by 1.2% as did Japan’s Topix index. In contrast, China’s mainland Shanghai Composite gained 0.2%.

The US dollar showed signs of strengthening, with the Bloomberg Spot Dollar Index rising 0.2%. The British pound slipped 0.1% to $1.2326 as did the euro, to $1.0706. The Japanese yen fell 0.2% to 150.36 per dollar while the offshore yuan remained little changed.

The post Stocks Fall, Dollar Advances Amid Fed Rate Uncertainty appeared first on theprimarymarket.com.

S&P 500 futures rose by 0.3%, while those on the Nasdaq 100 gained 0.5%. Futures listed on the Dow Jones Industrial Average rose by 0.2%. In Europe, the Stoxx 600 climbed higher by 0.4%.

The Bloomberg Spot Dollar Index declined by 0.4%, marking a two-week low for the greenback. The euro climbed by 0.3% to $1.0729, while the British pound rose 0.4% to $1.2521. The offshore yuan climbed 0.7% to 7.3164 per dollar while the Japanese yen also gained 0.7%, standing at 146.84 per dollar.

The post Stocks Rise, Dollar Hits Two-Week Low Following Positive Economic Data appeared first on theprimarymarket.com.

Both the euro and the British pound remained near three-month lows against the greenback. The euro slipped by 0.1% to $1.0715 after falling to its lowest level against the dollar since June on Wednesday, while the pound fell by 0.3% to $1.2472. The onshore yuan plunged to a 10-month low of 7.3270 per dollar, edging towards a 16-year low, while the dollar rose against the yen to 147.875; its highest since November last year.

Markets have placed a 40% probability of the Federal Reserve implementing an interest rate hike in November, according to data from CME FedWatch tool. Fed policymakers are expected to keep rates steady this month.

The post Dollar Rises As US Economy Shows Resilience appeared first on theprimarymarket.com.

Measuring the greenback against a basket of major currencies, the dollar index slipped by 0.05% to 103.58; contributing to a weekly loss of 0.53%. The dollar fell by 0.08% to 145.405 against the Japanese yen, while China’s yuan hit its highest level since August 11 at 7.2392 per dollar. The dollar remained relatively unchanged against the euro at $1.08455 following a 0.74% decline on Thursday.

Following a wave of employment and inflation data this week which has been on the weaker side, the jobs report is expected to lower expectations of a Fed rate hike in September. Markets are pricing a 12% chance for rate hikes, down from 18% a week ago.

The post Dollar Set For Weekly Loss Ahead of Jobs Report appeared first on theprimarymarket.com.

“Developments in the distressed Chinese financial and property sector are emerging as the most prominent driver for market sentiment,” Francesco Pesole, FX strategist at ING explained.

The yuan has fallen 0.13% against the dollar to 7.3098, while the British pound declined 0.2% against the greenback to 85.51 pence after British retailers reported July retail sales that fell short of expectations. The euro slipped 0.1% lower against the dollar to $1.0861 after toughing on a six-week low of $1.0856.

Measuring the U.S. dollar against a basket of major currencies, the U.S. dollar index edged 0.1% higher at 103.53, thereby securing a 0.6% weekly gain.

The post Dollar Nears Two-Month High as Bets on Fed Rate Hike Increase appeared first on theprimarymarket.com.

The U.S. benchmark 10-year Treasury yield rose 4 basis points to 3.6524%, however, it remains on course for a 16 basis point weekly fall. Futures on the S&P 500 gained 0.5% following the release of May’s jobs data, while contracts listed on the Nasdaq Composite Index gained 0.3%. Across the Atlantic, the European STOXX 600 index climbed 1.14%, putting it on track to a second consecutive day of gains.

Markets now price a 75% chance that the Federal Reserve will put a pause on its interest rate hikes during its next policy meeting in June, thereby preventing an 11th consecutive rate rise.

Peter Cardillo, chief market economist at the New York-based Spartan Capital Securities, believes that a rate hike pause is inevitable. “Hourly wages is the key and they came in just in line with what was expected,” Carillo explained. “In terms of the Fed, it doesn’t change the prospects of the Fed skipping in June, which means they will skip and leave the door open for a rate hike at the next meeting.”

The post Treasury Yields, Dollar Rise Following Payroll Data Release appeared first on theprimarymarket.com.

After accounting for less than 1% percent in 2010, the yuan has been used for 48% of cross-border transactions, valued at $549.9 billion, in China. On the other hand, dollar use dropped to 46.7% compared to 48.6% in February. For comparison, the dollar was used for 83% of cross-border payments and receipts in 2010.

“The rise in yuan usage could be a natural consequence of China opening up its capital account, with rising inflows for China bonds and outflows for Hong Kong stocks,” Stephen Chiu, chief Asia foreign exchange and rates strategist at Bloomberg Intelligence, wrote in a note.

However, the yuan didn’t make much movement on the global market, where it has a 4.5% share compared to the dollar’s 83.71%, according to data made available by SWIFT. This number might change in the future as a result of foreign economies looking to diversify risks by adopting alternative currencies, but the yuan isn’t expected to meet widespread acceptance anytime soon, if ever.

The post Yuan Surpasses U.S. Dollar to Become China’s Most Used Currency in Cross-Border Transactions appeared first on theprimarymarket.com.

In Europe, futures on the Euro Stoxx 50 declined by 0.4% while in Asia, Hong Kong’s Hang Seng index dropped by 1.2% as did Japan’s Topix index. In contrast, China’s mainland Shanghai Composite gained 0.2%.

The US dollar showed signs of strengthening, with the Bloomberg Spot Dollar Index rising 0.2%. The British pound slipped 0.1% to $1.2326 as did the euro, to $1.0706. The Japanese yen fell 0.2% to 150.36 per dollar while the offshore yuan remained little changed.

The post Stocks Fall, Dollar Advances Amid Fed Rate Uncertainty appeared first on theprimarymarket.com.

S&P 500 futures rose by 0.3%, while those on the Nasdaq 100 gained 0.5%. Futures listed on the Dow Jones Industrial Average rose by 0.2%. In Europe, the Stoxx 600 climbed higher by 0.4%.

The Bloomberg Spot Dollar Index declined by 0.4%, marking a two-week low for the greenback. The euro climbed by 0.3% to $1.0729, while the British pound rose 0.4% to $1.2521. The offshore yuan climbed 0.7% to 7.3164 per dollar while the Japanese yen also gained 0.7%, standing at 146.84 per dollar.

The post Stocks Rise, Dollar Hits Two-Week Low Following Positive Economic Data appeared first on theprimarymarket.com.

Both the euro and the British pound remained near three-month lows against the greenback. The euro slipped by 0.1% to $1.0715 after falling to its lowest level against the dollar since June on Wednesday, while the pound fell by 0.3% to $1.2472. The onshore yuan plunged to a 10-month low of 7.3270 per dollar, edging towards a 16-year low, while the dollar rose against the yen to 147.875; its highest since November last year.

Markets have placed a 40% probability of the Federal Reserve implementing an interest rate hike in November, according to data from CME FedWatch tool. Fed policymakers are expected to keep rates steady this month.

The post Dollar Rises As US Economy Shows Resilience appeared first on theprimarymarket.com.

Measuring the greenback against a basket of major currencies, the dollar index slipped by 0.05% to 103.58; contributing to a weekly loss of 0.53%. The dollar fell by 0.08% to 145.405 against the Japanese yen, while China’s yuan hit its highest level since August 11 at 7.2392 per dollar. The dollar remained relatively unchanged against the euro at $1.08455 following a 0.74% decline on Thursday.

Following a wave of employment and inflation data this week which has been on the weaker side, the jobs report is expected to lower expectations of a Fed rate hike in September. Markets are pricing a 12% chance for rate hikes, down from 18% a week ago.

The post Dollar Set For Weekly Loss Ahead of Jobs Report appeared first on theprimarymarket.com.

“Developments in the distressed Chinese financial and property sector are emerging as the most prominent driver for market sentiment,” Francesco Pesole, FX strategist at ING explained.

The yuan has fallen 0.13% against the dollar to 7.3098, while the British pound declined 0.2% against the greenback to 85.51 pence after British retailers reported July retail sales that fell short of expectations. The euro slipped 0.1% lower against the dollar to $1.0861 after toughing on a six-week low of $1.0856.

Measuring the U.S. dollar against a basket of major currencies, the U.S. dollar index edged 0.1% higher at 103.53, thereby securing a 0.6% weekly gain.

The post Dollar Nears Two-Month High as Bets on Fed Rate Hike Increase appeared first on theprimarymarket.com.

The U.S. benchmark 10-year Treasury yield rose 4 basis points to 3.6524%, however, it remains on course for a 16 basis point weekly fall. Futures on the S&P 500 gained 0.5% following the release of May’s jobs data, while contracts listed on the Nasdaq Composite Index gained 0.3%. Across the Atlantic, the European STOXX 600 index climbed 1.14%, putting it on track to a second consecutive day of gains.

Markets now price a 75% chance that the Federal Reserve will put a pause on its interest rate hikes during its next policy meeting in June, thereby preventing an 11th consecutive rate rise.

Peter Cardillo, chief market economist at the New York-based Spartan Capital Securities, believes that a rate hike pause is inevitable. “Hourly wages is the key and they came in just in line with what was expected,” Carillo explained. “In terms of the Fed, it doesn’t change the prospects of the Fed skipping in June, which means they will skip and leave the door open for a rate hike at the next meeting.”

The post Treasury Yields, Dollar Rise Following Payroll Data Release appeared first on theprimarymarket.com.

After accounting for less than 1% percent in 2010, the yuan has been used for 48% of cross-border transactions, valued at $549.9 billion, in China. On the other hand, dollar use dropped to 46.7% compared to 48.6% in February. For comparison, the dollar was used for 83% of cross-border payments and receipts in 2010.

“The rise in yuan usage could be a natural consequence of China opening up its capital account, with rising inflows for China bonds and outflows for Hong Kong stocks,” Stephen Chiu, chief Asia foreign exchange and rates strategist at Bloomberg Intelligence, wrote in a note.

However, the yuan didn’t make much movement on the global market, where it has a 4.5% share compared to the dollar’s 83.71%, according to data made available by SWIFT. This number might change in the future as a result of foreign economies looking to diversify risks by adopting alternative currencies, but the yuan isn’t expected to meet widespread acceptance anytime soon, if ever.

The post Yuan Surpasses U.S. Dollar to Become China’s Most Used Currency in Cross-Border Transactions appeared first on theprimarymarket.com.