The U.S. dollar has strengthened against major peers on Tuesday, while the euro fell following slower-than-expected inflation in Europe. Market movements were relatively subdued as investors focused on upcoming U.S. economic data.
The impact of the weekend’s U.S. capture of Venezuelan President Nicolas Maduro was short-lived, with currencies largely unaffected. Amo Sahota, director at Klarity FX, said there was no risk-off sentiment, noting the situation remained isolated.
The dollar rose 0.49% to 0.795 against the Swiss franc and 0.14% to 156.6 against the Japanese yen. Sahota highlighted that attention is on the U.S. labour market, with ADP and job openings reports due this week, followed by the main jobs report on Friday.
Markets are also digesting comments from Federal Reserve officials on interest rates. Richmond Fed President Tom Barkin said any rate changes must be “finely tuned” to incoming data, while Minneapolis Fed president Neel Kashkari warned of potential upward pressure on unemployment.
The euro weakened to $1.169 as inflation slowed more than expected in Germany and France, pushing European government bond yields down around three basis points. The pound also fell, last trading at $1.3504.
The U.S. dollar index rose 0.19% to 98.57. The Australian dollar hit a one-year high at $0.6739, while the offshore Chinese yuan remained stable at 6.981, and the New Zealand dollar eased 0.1% to $0.5782.
Investors remain focused on the outlook for U.S. monetary policy and future European inflation trends.
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A Kyiv-Warsaw train was struck near the Polish border, Ukraine's state railway firm said on Sunday. No passengers were injured. Ukrainian Railways said that the country's railways were facing systematic attacks for a second day and warned of widespread delays.
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad saying the strike originated from Iraq.
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Swedes vote in an election on Sunday (13 September) that could see the far-right enter government for the first time if the country's right-wing parties can form a majority.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
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