The dollar index slipped to 101.76 after touching a one-month low as crude costs tumbled on hopes of an end to the eight-month U.S.-Iran conflict. Concurrently, the euro edged higher to $1.1185, and sterling climbed to $1.3414 backed by robust domestic manufacturing figures. Investors are turning their attention to upcoming interest rate decisions across Britain, Norway, Sweden, and Australia.
Key points
Cheaper energy costs have eased broader inflation worries and pulled longer-dated U.S. Tr…: Cheaper energy costs have eased broader inflation worries and pulled longer-dated U.S. Treasury yields lower.
Safe-haven demand stemming from an ongoing AI-driven equity slump helped limit deeper dec…: Safe-haven demand stemming from an ongoing AI-driven equity slump helped limit deeper declines for the greenback.
The anticipated Australian rate increase would bring the central bank's cumulative policy…: The anticipated Australian rate increase would bring the central bank's cumulative policy tightening to 125 basis points this year.
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HONG KONG, Nov 3 : The dollar wavered alongside oil prices on Tuesday on hopes for a diplomatic breakthrough between the US and Iran, while the Aussie was steady ahead of the Reserve Bank of Australia's rate decision.
Brent crude futures plunged more than 7 per cent on Monday in their sharpest single-day drop in months, after Tehran said its contacts with the US aimed at ending their eight-month war were continuing.
Falling energy prices helped ease inflation concerns and dragged longer-dated US Treasury yields lower.
The yield on the benchmark US 10-year Treasury note was steady at 4.9145 per cent, while that on the 30-year bond was also flat at 5.2868 per cent. Both had dipped to their lowest levels in nearly two months in the previous session.
The dollar index, which measures the currency against a basket of currencies including the yen and the euro, last traded a shade weaker at 101.76 after dropping to a one-month low on Monday.
Meanwhile, an AI-driven stock market slump showed little sign of slowing down, hurting risk sentiment and lending some…
A sharp single-day rally of over 7% on November 2 pushed the energy conglomerate onto a technical momentum radar. The surge propelled the stock into a selective screen of eight Nifty 500 companies showing strengthening price action. Market participants track these technical indicators to gauge underlying trend strength and spot early signs of sustained buying pressure.
Regional market sentiment split as technology sector concerns collided with fresh monetary policy tightening across the Pacific. Investors faced headwinds stemming directly from guidance shared by the consumer electronics giant. Meanwhile, elevated borrowing costs introduced by central bankers signaled sustained pressure on broader economic growth.
The consumer goods conglomerate faced a significant profit contraction due to tax-driven pressures in its core tobacco business. However, robust expansion across packaged foods and personal care helped cushion overall top-line performance. Leading brokerages largely view the cigarette weakness as temporary, betting that recent price adjustments will stabilize long-term earnings.