News Formal

Procter & Gamble's earnings include a familiar refrain. The strong dollar is creating big headwinds.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Consumer giant backed its full-year guidance despite the move in the greenback

Procter & Gamble’s fiscal first-quarter earnings included a familiar bugbear for multinationals. The strong dollar is creating some big headwinds.

The dollar has strengthened considerably in those few months, as a spike in Treasury yields has boosted its value relative to other currencies. The Federal Reserve’s higher-for-longer approach to interest rates is expected to continue to support the greenback for at least the next few months. The dollar index DXY, which measures its strength against a basket of currencies, has climbed 6.3% since it closed at a 15-month low on July 13.

The strong dollar hurts companies like P&G that compete all over the world as it reduces the amount they receive when they repatriate cash from weaker-currency countries.P&G had some positive news for its outlook, however.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Procter & Gamble earnings: What to expectP&G is expected to report higher profit and revenue for its fiscal first quarter
Source: MarketWatch - 🏆 3. / 97 Read more »

Procter & Gamble earnings are out – Here are the numbersProcter & Gamble’s shares have fallen 3.7% this year, dragging its market value down to $344 billion.
Source: NBCLA - 🏆 319. / 59 Read more »

Procter & Gamble tops earnings, revenue estimates even as volume falls againProcter & Gamble’s shares have fallen 3.7% this year, dragging its market value down to $344 billion.
Source: NBCDFW - 🏆 288. / 63 Read more »

Procter & Gamble’s stock up after earnings beat estimatesCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »

Procter & Gamble tops earnings, revenue estimates even as higher prices drive some consumers awayProcter & Gamble’s shares have fallen 3.7% this year, dragging its market value down to $344 billion.
Source: NBCNewYork - 🏆 270. / 63 Read more »