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 weakening to start the trading week as the global currency crunch appears to have subsided. Housing data was also released on Monday, creating concern that the real estate market may not fully recover in the aftermath of the coronavirus pandemic. Is the greenback set for a bear market in the second half of 2020?
The euro today fell against the US dollar as investors moved money from currencies to other assets such as stocks given that most European equities closed higher. The EUR/USD currency pair today fell as investors moved capital into the safe-haven dollar causing it to rally against most other currencies as investors reacted to the Fed’s latest moves.
The US dollar is struggling for direction on Tuesday as the stock market rallies. Investors are weighing multiple events unfolding, including the Federal Reserve Chair’s semi-annual congressional testimony, strong May retail sales figures, and a spike in equities. It has been a roller coaster ride for the greenback in recent weeks as volatility and uncertainty have returned to global financial markets.
The US dollar added to its losses toward the end of the trading session on Monday. The Federal Reserve announced that it would begin to purchase individual corporate bonds as part of its efforts to put together “a broad, diversified market index of U.S. corporate bonds.” The announcement eliminated the broader financial market’s losses and helped the leading stock indexes turn positive by as much as 2%.
The US dollar is strengthening against its G10 currency rivals on Thursday as investors pour into the safe-haven asset amid a huge plunge in financial markets. With fears over a second wave of the coronavirus and a gloomy Federal Reserve, the bears were out in full force, helping the greenback retrace some of its 2020 gains. Jobs were not nearly as in focus as in previous weeks.
The US dollar is weakening midweek after the Federal Reserve left interest rates unchanged, noting that it does not see any rate hikes for two years. The greenback further took a hit on the US central bank, confirming that it will maintain its quantitative easing purchases for the foreseeable future. The announcement lifted US financial markets and turned the leading stock indexes green.
The US dollar is looking to find direction on Monday after a week of strong economic data. It will be a relatively quiet few days on the data front as all eyes will be on geopolitical developments and the June Federal Reserve policy meeting. The greenback’s movement will essentially depend on if the economic recovery is continuing or if the coronavirus pandemic still has a stranglehold on the US and the rest of the world.
The US dollar was the weakest major currency on the Forex market on Tuesday, falling against all other most-traded rivals. The positive market sentiment limited demand for the greenback in its role as a safe haven, pushing it back even against other safe currencies, like the Japanese yen. Rather positive domestic macroeconomic data was unable to support the US currency.
The US dollar is holding steady to finish the trading week as investors comb through the worse-than-expected retail sales report for April. The greenback’s endurance was further tested on bleak industrial and manufacturing numbers, lending credence to the Federal Reserve’s gloomy assessment that the US economy’s road to recovery will be a long and slow one. So, why is the buck not plummeting on Friday?
