The dollar is ticking down
The US dollar index is down by 0.3% at 100.77 as of 8:08 a.m. ET.
On Thursday, US President Donald Trump said in an exchange with Caterpillar's chairman Doug Oberhelman that when the dollar strengthens "and we let other people manipulate their currencies, that's the one thing that stops you."
Meanwhile, on Wednesday Treasury Secretary Steven Mnuchin told the Wall Street Journal, "I think the strength of the dollar has a lot to do with kind of where our economy is relative to the rest of the world, and that the dollar continues to be the leading currency in the world, the leading reserve currency and a reflection of confidence that people have in the US economy."
Separately, the University of Michigan's survey of consumer sentiment and new-home sales will be published at 10 a.m. ET.
As for the rest of the world, here's the scoreboard as of 8:31 a.m. ET:
- Trump called China the "grand champions" of currency manipulation on Thursday, after which Chinese Foreign Ministry spokesman Geng Shuang said on Friday, "China has no intention of seeking foreign trade advantages via an intentional devaluation of the renminbi. There is no basis for the continued devaluation of the renminbi."
- The Canadian dollar is up by 0.3% at 1.3072 per US dollar after data showed that CPI rose by 0.9% month-over-month in January, above expectations of a 0.3% uptick. Meanwhile, core CPI rose by 0.5% in January, above expectations of a 0.1% drop.
- The euro is up by 0.3% at 1.0610 against the dollar. "We expected the EUR to remain under selling pressure, with risks related to politics only explaining part of EUR weakness," a Morgan Stanley FX team led by Hans W. Redeker argued in a note on Thursday.
- The Russian ruble is little changed at 58.1413 per dollar, while Brent crude oil, the international benchmark, is down by 1.0% at $56.02 per barrel.
- The Japanese yen is up by 0.4% at 112.14 per dollar,
NOW WATCH: Here's why malls across the US are dying
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Foreign tourist arrivals in India will cross pre-pandemic level in 2024
- Upcoming smartphones launching in India in May 2024
- Markets rebound in early trade amid global rally, buying in ICICI Bank and Reliance
- Women in Leadership
- Rupee declines 5 paise to 83.43 against US dollar in early trade