The US dollar is trading relatively flat against multiple major currency peers, mainly due to the plethora of mixed economic data that were released ahead of the American Thanksgiving holiday. In focus in the middle of the holiday-shortened trading were jobs and personal income and spending. With a subdued greenback on Wednesday, what comes next on the other side of annual festivities and in the home stretch of 2020?
Is the US dollar in store for a rally in the coming days amid a potential selloff in the broader financial markets? With news that several of the US central bank’s emergency lending programs will be allowed to expire at the end of the year, equities could come under pressure, which would possibly benefit the traditional safe-haven asset.
The US dollar is struggling to plug the hemorrhaging to finish the trading week. The greenback has been cratering against many of its major currency peers this week as a bit more certainty over the 2020 election result and a substantial rally in stocks sent the buck lower. With a better-than-expected October jobs report, is the dollar in store for greater losses in November?
The US dollar is plunging against most of its currency rivals on Thursday as the number of Americans filing for first-time unemployment benefits declined to a pandemic low. With the 2020 US presidential election looking a little more certain in former Vice President Joe Biden’s favor, the broader financial markets are rallying, which has sparked a selloff of the greenback. Will a lower dollar be the norm in the home stretch of 2020?
The US dollar is searching for direction on Thursday after the number of Americans filing for first-time unemployment benefits fell to a fresh pandemic low. But the latest numbers indicate that jobless claims are sliding at a sluggish pace as hiring slows down. With Washington in a stalemate over stimulus funding, it might be hard to forecast the greenback’s performance in the short-term amid political uncertainty.
The US dollar is finding support from investors who are seeking shelter following a worse-than-expected jobless claims report. The greenback has been climbing in recent weeks amid a return of volatility in the broader financial markets. With growing uncertainty in the economy surrounding the coronavirus and the upcoming cold and flu season, the buck might pare much of its losses by year’s end.
The US dollar was firm today, battling with the Great Britain pound for the title of the strongest currency during Wednesday’s trading. Market analysts explained the strong performance by risk aversion on markets.
The US dollar is rallying against most of its currency competitors to kick off the trading week. The greenback, which has cratered about 10% since peaking at 103.00, is extending its gains in September as investors flee the broader financial market selloff and seek shelter in a traditional safe-haven asset.
The Turkish lira plunged to a new record low against the US dollar to finish the trading week, adding to its year-to-date plunge to 28%. The lira joined the broader emerging market currency selloff as the Federal Reserve’s downbeat assessment of the world’s largest economy sent investors into safer assets. Could the lira next test 8.0 against the buck?
The Japanese yen started Friday’s trading weak but managed to rebound and is now trading as the strongest currency on the Forex market. The currency gained on the US dollar as the FOMC-inspired rally of the greenback continued to fade. Today’s macroeconomic data in Japan demonstrated deflation of consumer prices, though experts were expecting that.
