Menu Search Facebook Twitter
Search Close
  • Capital Coahuila
  • Capital Hidalgo
  • Capital Jalisco
  • Capital Morelos
  • Capital Oaxaca
  • Capital Puebla
  • Capital Quintana Roo
  • Capital Querétaro
  • Capital Veracruz
  • Capital México
  • Capital Michoacán
  • Capital Mujer
  • Reporte Índigo
  • Estadio Deportes
  • The News
  • Efekto
  • Diario DF
  • Capital Edo. de Méx.
  • Green TV
  • Revista Cambio
Radio Capital
Pirata FM
Capital Máxima
Capital FM
Facebook Twitter
X Welcome! Subscribe to our newsletter and receive news, data, statistical and exclusive promotions for subscribers

Dollar Steadies Ahead of Trump Inauguration, Euro Rebounds

Investors are now awaiting the inauguration of Trump later on Friday for catalysts

Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration shot January 21, 2016, photo: Reuters/Jason Lee, File
By Reuters Whatsapp Twitter Facebook Share
6 months ago

TOKYO – The dollar held its gains on Friday as investors braced for U.S. President-elect Donald Trump to be sworn in, while the euro rebounded as the European Central Bank held policy steady.

The dollar index, which tracks the greenback against six major currencies, last stood at 101.17.

The index rose to 101.73 on Thursday on upbeat U.S. job and housing data, with homebuilding having rebounded sharply in December as a firming economy boosted demand for rental housing. The number of Americans filing for unemployment dropped unexpectedly to near the lowest levels in decades.

Investors are now awaiting the inauguration of Trump later on Friday for catalysts. Trump will be sworn in as the 45th president of the United States.

“The dollar could fall if Trump pushes forward his protectionist rhetoric in his inauguration speech,” said Minori Uchida, chief FX analyst at Bank of Tokyo Mitsubishi UFJ.

“Some investors also expect more details on his policies, so the dollar could also slip if Trump does not mention any specifics.”

The euro rebounded the previous day as the European Central Bank announced it would maintain its negative interest rate policy and continue its record pace of asset purchases to stimulate tepid growth.

The common currency had briefly dropped during the press conference of ECB chief Mario Draghi, who pointed to sagging inflation and the need for further monetary policy stimulus in Europe.

The euro slipped to $1.0589 during Draghi’s speech on Thursday, then rebounded as he noted no policy changes. The euro last stood at $1.0659.

The dollar held gains against the yen and was last steady at 114.875. The greenback moved to a one-week high of 115.63 yen on Thursday, helped by the strong U.S. data and resulting rise in Treasury yields.

For immediate cues, Asian markets are waiting on a burst of China’s data, including GDP, due later in the day. China is expected to report that its economy grew by a steady 6.7 percent in the fourth quarter, giving it a solid tailwind heading into a turbulent 2017.

The world’s second-largest economy faces increased uncertainties from a cooling housing market and the government’s bid to push through painful structural reforms.


Comments Whatsapp Twitter Facebook Share
More From The News

UK Palace Releases Prince George's 4th B ...

2 hours ago

Mexico Murders up with Deadliest Month i ...

4 hours ago

Ledecky Prepares for Another Big Week at ...

18 hours ago

Sand Sculpting Fest Draws Artists From A ...

18 hours ago
Most Popular

Mexico Announces New Laptop, Tablet Secu ...

By The Associated Press

Mexico City Sees Drug-War-Style Violence ...

By The Associated Press

Possible Melted Fuel Seen for First Time ...

By The Associated Press

UAEM to Open More Schools in Outmost Reg ...

By The News

Exhumation of Dalí's Remains Finds his M ...

By The Associated Press