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Tsunami waves started arriving in Hawaii after 6:30 p.m. local time on Tuesday night after a 8.8 magnitude earthquake six hours earlier ...
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By Ivan Pentchoukov
The Trump administration released three batches of records in July that shed new light on the decade-long controversy over Russia’s alleged meddling ...
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By T.J. Muscaro and Jackson Richman
The Environmental Protection Agency (EPA) on July 29 proposed a repeal of its long-standing “endangerment findings” of a connection ...
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By Aldgra Fredly
The Department of Justice (DOJ) on Monday filed a misconduct complaint against District Court Chief Judge James Boasberg, the judge presiding over ...
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By Sam Dorman and Joseph Lord
A shooting in a midtown Manhattan office building on July 28 left four victims dead, including a police officer. ...
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By Tom Ozimek
A man opened fire outside a Reno casino in Nevada on the morning of July 28, killing at least two people and ...
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By Jacob Burg
Passengers were seen fleeing from an American Airlines jet on the runway at Denver International Airport on July 26 as plumes of ...
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By John Haughey
Pipeline operators want Congress to amend federal law to eliminate a “loophole” they say allows vandals to tamper with energy infrastructure with ...
- At Least 11 Injured in Stabbing Attack at Michigan Walmart
By T.J. Muscaro
A stabbing incident at a Walmart in Traverse City, Michigan, left at least 11 people injured on July 26, according to authorities.
The ...
- California Utility Company Offers Direct Compensation to Victims of Eaton Fire Amid Lawsuits, Investigation
By Kimberly Hayek
Southern California Edison (SCE) is offering to directly pay victims of the Eaton Fire, the company said on July 23.
The offer comes ...
- US Imposing 20.56 Percent Anti-Dumping Duties on Canadian Softwood
By The Canadian Press
British Columbia lumber organizations are condemning the decision by the U.S. Commerce Department to raise anti-dumping duties on Canadian softwood to 20.56 ...
- New Mexico Oil and Gas Lease Sale Nets More Than $58 Million: DOI
By Naveen Athrappully
The Bureau of Land Management (BLM) New Mexico State Office has generated over $58.26 million in revenues through oil and gas lease ...
![Strong labor data and positive expectations about the incoming Trump administration pushed the U.S. dollar to a two-year high on Thursday. The U.S. dollar iIndex hit a high of 109.53 on Jan. 2, the first trading day of the year, and the highest since November 2022. The jump came as data released on Thursday by the U.S. Department of Labor showed that initial jobless claims hit an eight-month low, suggesting a robust labor market, which is a positive sign for the overall economy. The dollar index was trading slightly lower on Friday at 108.96 as of 08:30 a.m. EST. The dollar index increase is also supported by investor confidence in the upcoming Trump administration, which assumes power this month. According to a recent survey by consulting company Teneo, “global CEOs and investors are optimistic about the economic impact of a second Trump administration, outweighing concerns about tariffs, geopolitical tensions, and trade barriers.” Story continues below advertisement In fact, “50 percent of global CEOs are accelerating activities in areas such as domestic and international investment and hiring based on the outcome of the 2024 U.S. election,” it said. While the dollar strengthened, the euro and sterling declined on Thursday. The euro fell to its lowest level in more than two years while the sterling declined to its lowest in eight months. A Dec. 17 report from JP Morgan predicts the U.S. dollar to reach even new highs over the coming months. Related Stories How Major US Stock Indexes Fared Jan. 2 1/2/2025 How Major US Stock Indexes Fared Jan. 2 Americans Have Hopes Trump Will Deliver on Immigration, Economy, Safety: Gallup 1/2/2025 Americans Have Hopes Trump Will Deliver on Immigration, Economy, Safety: Gallup “November’s election outcome has given way to lower global growth expectations, wider growth gaps between the U.S. and the rest of the world, and higher terminal federal funds rate forecasts for 2025—the perfect trifecta of bullish U.S. dollar cyclical impulse,” said Meera Chandan, co-head of Global FX Strategy at the company. “These are early first-order reactions that may give way to deeper rethinks once the full set of Trump administration policies are known next year [2025], but for now, they constitute a solid economic rationale for carrying a long U.S. dollar stance into the first quarter of 2025.” JP Morgan sees the euro’s outlook as bearish, noting the eurozone is especially vulnerable to trade conflicts. And while sterling was the best-performing currency against the dollar last year, such an outperformance is not expected this year, it said. US Economy Performance in 2025 With President-elect Donald Trump set to take power in less than three weeks, there are mixed views about how things could shape up for the American economy. According to a Dec. 9 post by Morgan Stanley, markets are “bullish on Trump’s second term, hoping for tax cuts and better growth.” “We expect no net stimulus and a decent size hit from tariffs and immigration. This should be bullish for bonds as the Fed continues cutting, but could be a disappointment for frothy stocks,” it said. Regarding tariffs, the most likely outcome is a 20 percent hike on Chinese imports and on vehicles from Mexico and the European Union, Morgan Stanley said. Story continues below advertisement It predicts the U.S. Federal Reserve to continue cutting interest rates to a range of 3 percent 3.5 percent by the end of 2025. S&P Global is forecasting the U.S. economy to grow by 2 percent in 2025 and 2026, following an estimated growth of 2.7 percent last year. The company sees inflation to likely remain above the 2 percent level for “longer than we previously thought.” Goldman Sachs predicts the U.S. economy to “beat expectations” this year. “The U.S. economy is in a good place,” said David Mericle, an economist with the company. “Recession fears have diminished, inflation is trending back toward 2 percent, and the labor market has rebalanced but remains strong.” While Trump’s policy changes are likely to be “significant,” Mericle does not see these actions changing the trajectory of the economy substantially. Goldman foresees the Fed reducing interest rates to a range of 3.25–3.50 percent, with the U.S. GDP predicted to grow by 2.5 percent. There have been three consecutive quarters of economic growth in the first nine months of 2024—1.6 percent in the first quarter, 3 percent in the second, and 3.1 percent in the third.](https://www.usnn.news/wp-content/uploads/2025/01/US-Dollar-Index-Hits-Highest-Level-in-2-Years-Euro-Falls-jpg.webp "US Dollar Index Hits Highest Level in 2 Years, Euro Falls 5")
