Fed rate hopes weigh on dollar, stocks fall ahead of US jobs data

Another positive inflation data release out of the United States added to expectations that the US central bank will take a lighter approach to lifting borrowing costs at its December meeting.

A report showing factory activity shrinking in November added to the sense that the Fed moves were kicking in. The greenback was under particular pressure from the yen Thursday, having hit a three-decade high in October, while sterling and the yuan were also well up from the record lows touched recently.However, several Fed officials including Powell have lined up to warn that rates will continue to rise and stay elevated, with the possibility of no cut until 2024.

The figures will provide the most recent snapshot of how the world's top economy is faring in light of the higher rates and four-decade-high inflation.

United States United States Latest News, United States United States Headlines

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

Federal Reserve chair signals slowdown in rate hikes, stocks rally on Wall StreetWall Street closed out a solid November with a broad market rally Wednesday after the head of the Federal Reserve said the central bank could soon begin easing up on its aggressive interest rate increases aimed at taming inflation.
Source: DenverChannel - 🏆 239. / 63 Read more »

Stock market news: Dow, S&P 500 and the Federal ReserveThe stock market will respond to reports on GDP and jobs, speeches by Jerome Powell and Janet Yellen, and to business leaders speaking at the DealBook conference Wednesday.
Source: CNN - 🏆 4. / 95 Read more »