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US Dollar Holds Steady As Initial Jobless Claims Surge 6.6 Million

The US dollar is holding steady on Thursday after the federal government reported that initial jobless claims doubled week’s total and topped 6.6 million. The coronavirus pandemic continues to take a toll on a once robust and resilient labor market, and it is unclear as to when Americans will return to the workforce. Despite the federal government’s $2.2 trillion stimulus package that includes direct income support, how much longer can the world’s […]

Euro Inches Higher on Coronavirus Fears and Global Equities Sell-Off

The euro today traded in a wide range against the US dollar with a slightly bullish bias as markets reeled from the spreading coronavirus outbreak and the crash in oil prices. The EUR/USD currency pair today traded with a bullish bias as bears fought for control amid a major sell-off in global equity markets.

US Dollar Uncertainty Despite Strong February Jobs Report, Trade Data

The US dollar is mixed against several currency rivals to close out the trading week as a blend of strong February jobs data, the coronavirus, and financial market turmoil is causing widespread confusion. Will the greenback rebound or will it continue its fall?

New Zealand Dollar Mixed amid Negative Sentiment, Conflicting Economic Reports

The New Zealand dollar was mixed today, managing to gain on some major currencies, even as the market sentiment remained unfavorable to riskier currencies linked to commodities. Domestic macroeconomic data was not helpful, failing to provide a clear picture of New Zealand’s economy. One of the reports released over Thursday’s session beat expectations while the other one was not good.

Japanese Yen Rebounds Despite Heightened Recession Fears

The Japanese yen is rebounding on Tuesday after the safe-haven currency struggled to hold ground to kick off the trading week due to a disappointing gross domestic product reading. The yen’s jump, despite heightened recession fears, is being driven by decent industrial production in December. All eyes will now be on January trade data and machinery orders in December.

Euro Range-Bound on Mixed German and Eurozone GDP Reports

The euro today continued to trade near 3-year lows against the US dollar after the release of mixed GDP data from Germany and the greater euro area. The EUR/USD currency pair extended its losing streak, which has been in place since the start of the year, as the risk-off sentiment dominated the markets in the face of the coronavirus outbreak.

Euro Hits New 2020 Lows on Mixed German Data, Ahead of US NFP

The euro today fell to new 2020 lows against the US dollar in the early European session following the release fo mixed data from the German docket. The EUR/USD currency pair fell through significant support levels to hit a 4-month low driven by a risk-averse market environment ahead of the crucial US non-farm payrolls report.

Australian Dollar Strongest, Rising for Fourth Session

The Australian dollar was the strongest currency on the Forex market today, rallying for the fourth consecutive day thanks to the improving investors’ sentiment. The currency managed to rally even though domestic macroeconomic data failed to meet expectations for the most part.

US Dollar Rises on Decline in Trade Deficit, Jobs Data

The US dollar is rising midweek on strong economic data and the rebound in global financial markets. Despite the Wuhan coronavirus significantly affecting China and spreading to other countries, traders are confident that the outbreak will be contained. The greenback is mirroring its performance from early last year as it is already up close to 2% so far in 2020.

NZ Dollar Among Weakest Currencies Despite Trade Surplus

The New Zealand dollar, together with its Australian counterpart, was the weakest among most-traded currencies on the Forex market today. Like the Aussie, the kiwi was unable to profit from better-than-expected domestic macroeconomic data.

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