Gold falls on stronger dollar
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Fed, Dollar and Stokes Market
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The dollar was broadly stronger against major peers on Thursday as investors assessed U.S. President Donald Trump's latest comments on Fed Chair Jerome Powell's future, while concerns over a pivotal election in Japan weighed on the yen.
A weaker U.S. dollar may fundamentally benefit some areas of the stock market, but “it could also potentially drive higher import costs, pressure consumers and flow through to inflation,” according to a note Thursday from Morgan Stanley Wealth Management.
I have a bearish outlook for the U.S. dollar in 2025. Click for my updated look at how the DXY and Invesco DB US Dollar Index Bearish Fund ETF (UDN) could react.
Equities advanced on Thursday with the S&P 500 and the Nasdaq registering record closing highs and the dollar rose as investors were encouraged by the latest crop of economic data and earnings reports while oil futures rose on supply risks in the Middle East.
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The dollar’s strength deserves more attention than the moves in other asset classes today. Stocks are up modestly. Treasuries have started to turn in small gains, too. The dollar, in contrast, has kept a strong bid higher since this morning.
Netflix on Thursday raised its revenue forecast for the rest of the year, thanks to a weakening US dollar and expected strong growth in advertising and new subscribers.
(Reuters) -Discount store chain operator Dollar General's finance chief Kelly Dilts will step down next month after a little over two years in the role, the company said on Wednesday. Dilts, who had joined the company in 2019, is stepping down effective August 28 to pursue another opportunity.
Goldman's basket of stocks with high international sales is outperforming its group with high domestic sales 11% to 4%.
What’s being overlooked in the pyrotechnics over the Federal Reserve is the most important issue of all: the integrity and stability of the dollar.