The US dollar is weakening against its major currency competitors to finish the trading week. While the greenback is on track for a weekly boost, the buck fell on the latest worse-than-expected economic data. The dollar’s descent on Friday could also be driven by inflation fears as the federal government approved another massive spending bill.
The US dollar is continuing its streak of losses midweek as the federal government prepares to pass the $2 trillion stimulus package, which has sparked a rally in equities for two straight sessions. With a heightened risk appetite, investors are pouring into riskier currencies after liquidating everything to buy the greenback throughout the market turmoil. Is the buck set to plunge even further?
The US dollar is mixed on Thursday as the economy grew at a modest clip in the fourth quarter and traders are fleeing to safe-haven assets amid market turmoil. But investors are concerned that the coronavirus could significantly impact first-quarter gross domestic product (GDP), and do a lot more damage to the world’s largest economy.
The US dollar is falling against its major currency rivals on Tuesday as new data highlights an uncomfortable truth for the world’s largest economy: Business investment is weakening. That has not stopped the consumer from being bullish as confidence in the US economy has not been this high in more than 20 years.
The euro today fell for the fourth consecutive session against the US dollar as the risk-off sentiment dominated the markets in the face of new coronavirus infections. The EUR/USD currency pair today broke below the critical 1.10 level despite European equities closing higher as investor risk aversion ebbed later in the session.
The euro today fell against the US dollar amid thin holiday trading conditions ahead of tomorrow’s Christmas holiday celebrations. The EUR/USD currency pair’s performance was not influenced by any significant fundamental news but was primarily driven by investor sentiment.
The Sterling pound today crashed to new 3-week lows against the US dollar amid fears that Boris Johnson was pushing for a hard Brexit. The GBP/USD currency pair today fell from the early London session as investors sold the pair following Friday’s passage of the Brexit Withdrawal Bill.
The euro today rallied from its daily lows following the release of weak US durable goods orders in the early American session. The EUR/USD currency pair had fallen earlier in the session amid low liquidity ahead of the Christmas holiday break.
The euro today fell against the US dollar negating yesterday’s gains as investors sold the single currency given the weak data coming out of the eurozone recently. The EUR/USD currency pair fell amid a lack of significant releases from the euro area, leaving the euro at the greenback’s mercy, which was quite strong and pushed the pair lower.
The US dollar is trading relatively sideways against some of its biggest currency rivals to close out the trading week. The latest release of US economic data is disappointing markets, which is raising the probability of another quarter-point decrease to interest rates in October. For now, investors might be adopting a wait-and-see approach to trading the buck prior to next week’s important Federal Reserve policy meeting.
