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US Dollar Rises Amid September Jobs Report, Trump Testing Positive for COVID-19

The US dollar is holding its gains to finish the trading week as investors get spooked by a worse-than-expected September jobs report. But the main headline maker is that President Donald Trump and the First Lady tested positive for COVID-19. This was the curveball tossed into the broader financial market with a month to go until the 2020 election. How will the buck react in the coming days?

US Dollar Mixed As GDP Beats Estimates, Fiscal Stimulus Hopes Rise

The US dollar is trading mixed against several currency counterparts midweek as investors focus more on economic data and fiscal stimulus instead of the first 2020 presidential debate between President Donald Trump and former Vice President Joe Biden. With growing confidence in the broader financial market, the greenback could face pressure in October, but electoral uncertainty might cap its decline.

USD/KRW Unchanged As Data Disappoints Struggling South Korean Economy

The South Korean won is trading sideways against the US dollar on Tuesday as the national economy failed to improve in August as the effects of COVID-19 continue to linger in one of Asia’s biggest economies. With the coronavirus pandemic diminishing in Seoul, could one of Asia’s worst-performing currencies turn things around in the final quarter of 2020?

Canadian Dollar Slumps to Two-Week Low As 8% Oil Crash Impacts Loonie

The Canadian dollar is slumping to its lowest level in two weeks against the US dollar on Tuesday. The loonie is plummeting primarily on crude oil crashing as much as 9%, joining the broader market selloff. It is going to be relatively quiet on the data front this week, which means the loonie will find direction on energy prices and the central bank’s midweek policy meeting.

US Dollar Gains After Strong August Jobs Report, Rising Treasury Yields

The US dollar is looking to extend its winning streak against multiple currency counterparts to close out the trading week. The greenback is rising on Friday after an impressive jobs report last month sparked confidence that the world’s largest economy is rebounding in the aftermath of the public health crisis.

Japanese Yen Strengthens As Abe Resigns, Economic Activity Rebounds

The Japanese yen is strengthening against its currency rivals to finish the trading week. The yen has found support on Prime Minister Shinzo Abe stepping down and renewed economic activity in the world’s third-largest economy. The yen has been performing well in 2020 as investors continue to seek traditional safe-haven assets in the fallout of COVID-19.

US Dollar Rises As Weekly Jobless Claims Climb Back Above One Million

The US dollar is recording modest gains on Thursday after the number of Americans filing for first-time unemployment benefits moved back above the one million mark. The greenback is looking to advance for two consecutive sessions as the safe-haven currency has cratered 7% since May. Where is the buck headed, and are jobless claims on an upward trend?

US Dollar Strengthens As FOMC Warns COVID-19 Will ‘Weigh Heavily’ on Economy

The US dollar is finding some support after the Federal Reserve released its minutes from the July policy meeting. The Federal Open Market Committee (FOMC) revealed that the coronavirus pandemic would“weigh heavily” on the economy, labor market, and inflation, resulting in the central bank to maintain its stimulus efforts until the country rebounds.

Chinese Yuan Gains As PBoC Pumps More Liquidity Into System

The Chinese yuan is continuing its gains against the US dollar to kick off the trading week. The yuan’s strength was buoyed by the central bank pumping more liquidity into the system and leaving interest rates unchanged for the fourth consecutive month. After breaking below the seven against the greenback, the yuan has been steadily testing 6.9. How much better can it get for the currency?

Canadian Dollar Pares Gain on Weaker Energy, Capped by Strong Manufacturing

The Canadian dollar pared its weekly gain to close out the trading week, driven primarily by slumping energy prices. But the loonie’s drop was capped by better-than-expected manufacturing data. Still, the Canadian dollar is poised for a significant 1% weekly advance against the US dollar as the currency continues its rebound following an abysmal first half of 2020.

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