Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Markets

26 Oct 2021

Dollar Soar Higher Ahead of U.S. Growth Data Release & ECB Meeting

The Index Today

On Tuesday (Oct 26, 2021 12:56AM ET), the dollar reflected higher against the safe-haven yen while relieving a touch against other currencies as heavy company earnings and a slow improvement in U.S.-China trade ties lifted opinion, and at the same time, rates expectations were seen on the value of euro.

The dollar was last up 0.2% at 113.93 yen and was maintaining a steady balance against the euro at $1.1599. Moves were slightly an inch as traders keeping an eye central bank meetings in Europe, Japan and Canada this week and data releases in Australia and the United States.

Reuters mentioned in report that the China's Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen held a video call which readouts from both sides suggested was at least not acrimonious.

On the other hand, the Australian dollar rose about 0.3% and poked past 75 U.S. cents to $0.7513, China's yuan was firm near a four-month high at 6.3845 per dollar and the South Korean won hit a seven-week peak.

Bank of Singapore analyst Moh Siong Sim, while investors await data and central bank meetings for direction, "The dollar has been reversing lower because of a more risk- on market, and that's due to earnings coming in better than expected."

Analysts at Westpac said in a note, "The dollar looks to be finding its feet in the mid-93s." Traders are focused now to U.S. growth data on Wednesday and then to the upcoming European Central Bank's meeting on Thursday.

Clay pottery with table linens