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US Dollar Slips As $2 Trillion Stimulus Package Nears Agreement

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?

Euro Whipsaws on Conflicting German Headlines and Coronavirus

The euro today traded haphazardly against the US dollar oscillating between gains and losses as investors reacted to conflicting news reports about Germany’s fiscal policies. The EUR/USD currency pair rallied briefly then fell and later inched higher as the single currency failed to post sustained gains against the weak greenback.

Euro Falls on Low Liquidity and Market Sentiment, Rallies on US Data

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.

Australian Dollar Rises Despite Lackluster Domestic Data

The Australian dollar rose against other most-traded currencies today. There was no apparent reason for the rally as domestic macroeconomic data released over Friday’s trading session was not impressive and there was no news about the US-China trade negotiations.

US Dollar Struggles for Direction on Mixed Data, US-China Trade Worries

The US dollar is struggling for direction midweek after a wide range of economic data was mixed. The greenback is also seesawing against a myriad of other currencies on uncertainty over phase one of a US-China trade agreement. The buck is looking to extend its gains to close out the year after climbing more than 2% so far in 2019.

US Dollar Flat As Capital Goods, New Home Sales Disappoint Markets

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.

Australian Dollar Continues to Recover Despite Retail Sales Miss

The Australian dollar extended its bounce today, gaining against most major currencies with the exception of the Swiss franc. While the rebound was not enough to erase this week’s losses, it gives the Aussie a chance to avoid ending the week as the weakest currency. As for Australia’s macroeconomic data, it was mixed today, with the housing market recovering but retail sales missing expectations.

US Dollar Rises on Housing, Q2 GDP

The US dollar is gaining on several major currency rivals toward the end of the trading week, buoyed by the latest housing data and the final gross domestic product (GDP) figure for the second quarter. The buck’s downward performance in recent sessions had been driven by geopolitics, from the US-China trade war to tensions in the Middle East.

Pound Crashes As Parliament Resumes Amid Brexit Uncertainty

The pound today crashed against the US dollar amid heightened Brexit uncertainty after the UK Parliament resumed its sessions following yesterday’s Supreme Court decision. The GBP/USD currency pair fell by over 130 pips as investors expressed their lack of confidence in the UK’s future by dumping the Sterling pound.

US Dollar Soft Under Pressure from Various Negative Fundamentals

The US dollar gained against its Australian and Canadian counterparts but otherwise was rather soft today. There were plenty of reasons for the dollar’s weakness: the outlook for interest rate cuts, escalation of the US-China trade war, and poor US housing data.

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