Dollar Up, Takes “Wee Breath” Ahead of Powell’s Congress Testimony

By Gina Lee
AiVIF.com – The dollar was up on Tuesday morning in Asia. The greenback hit pause as investors await testimony from U.S. Federal Reserve Chairman Jerome Powell...
Dollar Up, Takes “Wee Breath” Ahead of Powell’s Congress Testimony © Reuters.

By Gina Lee

AiVIF.com – The dollar was up on Tuesday morning in Asia. The greenback hit pause as investors await testimony from U.S. Federal Reserve Chairman Jerome Powell after being caught off-guard by the central bank’s latest policy decision.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.04% to 91.922 by 12 AM ET (4 AM GMT).

The USD/JPY pair edged up 0.11% to 110.42.

The AUD/USD pair was down 0.26% to 0.7515 and the NZD/USD pair edged down 0.14% to 0.6976.

The USD/CNY pair inched down 0.02% to 6.4645.

The GBP/USD pair inched down 0.10% to 1.3914. Investors await a further re-opening of the U.K. economy on Jul. 19 as well as a Bank of England policy decision, to be handed down on Thursday.

The U.S. currency has climbed sharply ever since the previous week’s Fed decision, which hinted that interest rate hikes and asset tapering could come sooner than expected. It gave up some of those gains on Monday as it dipped, however.

"We've had a meaningful shift at the Fed from a longtime dovish stance to now a slightly hawkish one... we've had a bit of a positioning cleanout, the whole world was mega short the dollar and that's in good part probably been cleaned out already, and now we take a wee breath before the next move up," Westpac currency analyst Imre Speizer told Reuters.

Investors will now focus on the U.S. labor market, whose performance will likely influence the Fed’s next moves. They also await Powell’s testimony before a House of Representatives subcommittee hearing later in the day.

However, Powell noted sustained labor market improvement and the recent increase in inflation in written remarks ahead of his testimony.

Other Fed officials, including St. Louis Fed President James Bullard and Dallas Fed President Robert Kaplan, also offered toned-down rhetoric. However, New York Fed President John Williams (NYSE:WMB) warned it was too soon to shift policy as he expects inflation to ease from about 3% in 2021 to around 2% in 2022 and 2023.

Some investors were unsure of Williams’ prediction, however.

"The Fed is nearly always late on such things," with core inflation potentially higher at just under 3% by the end of 2022. "That is not 2% inflation,” with the Fed eventually feeling the pressure to move on interest rates, RBC Capital Markets chief economist Tom Porcelli said in a note.

"In the meantime, we have no doubt with that 2% forecast as cover, Powell will attempt to play down the likelihood of a rate hike in 2022. But just as he eventually relented on taper talk, he will relent on dismissing talk about hiking rates too. Just give it more time,” the note added.

In cryptocurrencies, bitcoin and its rivals slumped on Monday in reaction to an intensifying crackdown on trading and mining in China in addition to technical factors.

"The tides of FONGO, or fear of not getting out, are creeping in," Pepperstone head of research Chris Weston told Reuters.

"Bitcoin is also at a make-or-break point” as it tests May's low of near $30,000. "Ethereum looks plain ugly and if crypto is an emotive asset, then one would have to be the staunchest of hodlers to be holding this and not look for some sort of hedge," he added.

27-07-2021 02:58:45 (UTC+7)

EUR/USD

1.1804

+0.0033 (+0.28%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

EUR/USD

1.1804

+0.0033 (+0.28%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

GBP/USD

1.3820

+0.0075 (+0.54%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

Sell (1)

USD/JPY

110.39

-0.15 (-0.14%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

AUD/USD

0.7383

+0.0019 (+0.25%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.2542

-0.0019 (-0.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

EUR/JPY

130.31

+0.17 (+0.13%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (1)

EUR/CHF

1.0810

-0.0008 (-0.07%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (2)

Gold Futures

1,797.35

-4.45 (-0.25%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

Silver Futures

25.253

+0.020 (+0.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

Copper Futures

4.5927

+0.1927 (+4.38%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

Crude Oil WTI Futures

72.14

+0.07 (+0.10%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

Brent Oil Futures

73.86

+0.42 (+0.57%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (3)

Natural Gas Futures

4.063

+0.021 (+0.52%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (6)

US Coffee C Futures

207.90

+18.90 (+10.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Euro Stoxx 50

4,102.59

-6.51 (-0.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

S&P 500

4,421.40

+9.60 (+0.22%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

DAX

15,618.98

-50.31 (-0.32%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,025.43

-2.15 (-0.03%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Hang Seng

26,220.00

-1064.87 (-3.90%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (7)

US Small Cap 2000

2,212.65

+3.24 (+0.15%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (1)

Sell (6)

IBEX 35

8,775.20

+58.00 (+0.67%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (3)

Sell (4)

BASF SE NA O.N.

67.540

+0.510 (+0.76%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Bayer AG NA

51.40

+0.20 (+0.39%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

210.90

+0.40 (+0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Adidas AG

311.95

-5.75 (-1.81%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

Deutsche Lufthansa AG

9.847

-0.002 (-0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Siemens AG Class N

134.56

-0.09 (-0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Deutsche Bank AG

10.660

+0.070 (+0.66%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

 EUR/USD1.1804↑ Buy
 GBP/USD1.3820↑ Buy
 USD/JPY110.39↑ Sell
 AUD/USD0.7383↑ Buy
 USD/CAD1.2542↑ Sell
 EUR/JPY130.31Neutral
 EUR/CHF1.0810Neutral
 Gold1,797.35↑ Sell
 Silver25.253↑ Sell
 Copper4.5927Sell
 Crude Oil WTI72.14Neutral
 Brent Oil73.86Buy
 Natural Gas4.063↑ Sell
 US Coffee C207.90↑ Buy
 Euro Stoxx 504,102.59↑ Buy
 S&P 5004,421.40↑ Buy
 DAX15,618.98↑ Buy
 FTSE 1007,025.43↑ Buy
 Hang Seng26,220.00↑ Sell
 Small Cap 20002,212.65Neutral
 IBEX 358,775.20Neutral
 BASF67.540↑ Buy
 Bayer51.40↑ Buy
 Allianz210.90↑ Buy
 Adidas311.95↑ Sell
 Lufthansa9.847↑ Sell
 Siemens AG134.56↑ Buy
 Deutsche Bank AG10.660↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,720
(0/ 0) # 687
SJC HCM5,680/ 5,745
(0/ 0) # 713
SJC Hanoi5,680/ 5,747
(0/ 0) # 715
SJC Danang5,680/ 5,747
(0/ 0) # 715
SJC Nhatrang5,680/ 5,747
(0/ 0) # 715
SJC Cantho5,680/ 5,747
(0/ 0) # 715
Cập nhật 27-07-2021 02:58:47
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ↀ Giá vàng thế giới
$1,798.18-2.04-0.11%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2188022310
RON 95-II,III2178022210
E5 RON 92-II2061021020
DO 0.05S1653016860
DO 0,001S-V1688017210
Dầu hỏa1550015810
ↂ Giá dầu thô thế giới
WTI$72.16-0.39-0.54%
Brent$74.72-0.76-1.01%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.880,0023.110,00
EUR26.387,0727.760,11
GBP30.825,6632.113,27
JPY203,04213,69
KRW17,2621,01
Cập nhật lúc 18:50:27 26/07/2021
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