The euro today fell to 2-month lows against the US dollar driven by negative investor sentiment as coronavirus cases in Europe and across the world continue to rise. The greenback’s rally also fueled the EUR/USD currency pair’s decline as investors piled into the world’s only reserve currency despite the looming US elections.
The US dollar was very weak today, surprisingly so considering very good domestic macroeconomic data. While the greenback managed to retain some of its gains versus the euro, the US currency fell against many other major rivals.
The euro today fell against the US dollar driven by investor fears about the rising coronavirus cases across the US triggering a selloff of riskier assets such as the euro. The EUR/USD currency pair’s decline was further fueled by rising trade tensions between the EU and the US after Donald Trump threatened to impose sanctions on European exports.
The US dollar is seesawing against many of its G10 currency counterparts on Thursday after the US government reported a worse-than-expected jobs report. Financial markets are also combing through the latest gross domestic product (GDP) figures for the first quarter. The latest developments could potentially force traders back into the greenback after two months of returning to stocks.
The US dollar is struggling for direction on Thursday after a plethora of data provided a bearish portrait of the world’s largest economy. Initial jobless claims came in slightly worse than expected, while the gross domestic product (GDP) was revised downward for the first quarter. But financial markets were mostly positive in pre-market trading.
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.
