Joe Biden — News Archive

    Archives

USD/CNY Flat amid Washington Tensions, PBoC Flirting with More Stimulus

The Chinese yuan is struggling for direction against the greenback to kick off the trading week. While the yuan is flirting with a one-week high, US-China relations and monetary policy continue to weigh on the currency. Should the broader economy and financial markets rise, investors will inevitably pare their positions in the buck and transition that capital to other currencies. But with so much uncertainty, is this a certainty?

USD/CAD Rises on Strong Retail Sales, Industrial Output in January

The US dollar rose against some of its major currency peers in the middle of the trading week as financial markets failed to react positively to strong retail sales data. The greenback has strengthened during the holiday-shortened trading week amid investors continuing to seek safe-haven assets during the broader economic uncertainty.

Pound Falls Then Rallies on Upbeat UK Jobs Data and Risk-On Mood

The Sterling pound initially fell against the dollar due to the prevailing risk-off market sentiment but later rallied on upbeat UK jobs data and a shifting mood. The GBP/USD currency pair later recouped all its earlier roses and printed new daily highs as the greenback fell amid a spike in investor risk appetite.

Canadian Dollar Falls As Crude Oil Slumps, Keystone XL Pipeline Canceled

The Canadian dollar is weakening against its US peer to finish the trading week, paring most of its gains from recent sessions. The loonie is slumping amid declining crude oil prices and developments on the Keystone XL pipeline front. But positive economic data offset some of the bearish news. Could the currency’s push over the last several months come to a screeching halt?

Euro Rallies on ECB Rate Decision Despite Dovish Comments by Lagarde

The euro rallied against the dollar today buoyed by the elevated risk appetite that saw the greenback sidelined in favor of riskier assets such as the single currency. The EUR/USD currency pair hit its daily highs after the European Central Bank released that it was leaving interest rates unchanged as expected after today’s meeting.

Canadian Dollar Rallies on BoC Rate Decision and Biden Inauguration

The Canadian dollar today rallied higher against its US peer after the Bank of Canada left interest rates unchanged with a bullish economic outlook. The USD/CAD currency pair fell to new multi-year after Joe Biden’s inauguration marked the end of the Donald Trump era.

US Dollar Index Finds Support on Five-Month High Jobless Claims, Stimulus Hopes

Could the US dollar maintain its impressive start to 2021 on Thursday? Investors sought refuge from bearish data and economic uncertainty after the federal government reported the higher number of initial jobless claims in about five months. Financial markets are also waiting for President-Elect Joe Biden‘s stimulus and relief proposals, with only days until he is inaugurated.

US Dollar, Treasurys Rise As Economy Lost 140,000 Jobs

The US dollar is looking to log a gain in the first trading week of 2021 as investors potentially seek refuge in the conventional safe-haven asset. The US government reported a worse-than-expected jobs report for December, driven by a resurgence in the coronavirus pandemic that is approaching 300,000 new infections per day. Is the greenback on the verge of facing a correction higher?

Euro Falls Against Resurgent Dollar on Weak Inflation and Retail Sales Data

Today, the euro fell against the resurgent dollar amid rising US Treasury yields that boosted the world’s reserve currency despite the turbulent American politics. The EUR/USD currency pair’s decline was also fueled by the disappointing inflation data coming out of the eurozone, causing investors to sell the euro.

US Dollar Finds Support on Washington Chaos, Lower Jobless Claims

The US dollar is extending its winning streak to two sessions toward the end of the first trading week of 2021. The greenback, which has come under pressure over the last nine months, is finding support in the political chaos unfolding in Washington during the final days of President Donald Trump’s tenure. The buck’s ascent occurred alongside a rally in the financial markets and bullish economic data.

Navigation

Menu