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US Dollar Stalls As Economy Creates 4.8 Million Jobs in June, Factory Orders Surge

The US dollar is stalling against many of its G10 currency rivals on Thursday after a strong and better-than-expected June jobs report. The stellar labor reading sparked a rally in the stock market, raising the risk tolerance of traders in equities. After the last couple of weeks of investors being spooked by a resurgence in coronavirus cases, the millions of new jobs suspended these fears for now.

Euro Falls on Upbeat Euro Area PMIs, Rallies on Upbeat US PMI Data

The euro today fell against the US dollar despite upbeat releases from German combined with positive euro area PMI data released by Markit Economics. The EUR/USD currency pair rallied higher after the release of upbeat US PMI data, which was surprising given that the print beat analysts expectations by a wide margin.

Australian Dollar Sinks After Extremely Bad Employment Data

The Australian dollar was extremely weak today following the release of a very disappointing employment report. The Aussie fell against almost all of its most-traded peers, even the New Zealand dollar that was weak itself, but not against the Great Britain pound.

Turkish Lira Weakens As Treasury Borrows Millions to Keep Finances Afloat

The Turkish lira is weakening against many of its currency competitors midweek as the government auctions millions in T-bills to keep the government’s finances afloat. The lira, which has come under enormous pressure this year, has stabilized over the last month. But a mix of a financial crisis and the coronavirus pandemic has impacted Turkey’s fragile economy.

US Dollar Strengthens on Jobless Claims, Market Jitters

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.

US Dollar Tries to Find Direction After Week of Strong Data

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.

Canadian Dollar Rallies on Jobs Report and Oil Prices, Ignores US Data

The Canadian dollar today extended its rally against the US dollar after the release of surprisingly good employment data for May. The USD/CAD currency pair fell even though the US economy reported better than expected jobs numbers.

US Dollar Slumps As Economy Unexpectedly Adds 2.509 Million New Jobs in May

The US dollar is slumping against its G10 currency counterparts to close out the trading week as the economy unexpectedly added 2.509 million new jobs in May. While this is great news for the US, investors are reducing their positions in the greenback and pouring into equities. Since there is less concern over the broader economy, traders feel more confident to move away from safe-haven assets and into stocks.

Euro Rallies to 2-Month Highs on Positive Euro Area Data, Sentiment

The euro today rallied to new 2-month highs against the US dollar boosted by the improved market risk appetite as most equity markets across the globe rally. The EUR/USD currency pair gains came at the greenback’s expense, which lost ground against other currencies as investor demand for safe-haven assets receded.

Chinese Yuan Weakens As Government Abandons 2020 GDP Target

The Chinese yuan is weakening against its major currency competitors to end the trading week, driven by officials announcing that they are abandoning their gross domestic product (GDP) target for 2020. The yuan is also coming under pressure on US-China tensions regarding trade and Hong Kong. While the world’s second-largest economy has hit the reboot button, outside factors may pause its reopening.

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