FXTM information and reviews
FXTM
93%
IronFX information and reviews
IronFX
92%
Libertex information and reviews
Libertex
91%
FXCC information and reviews
FXCC
90%
Markets.com information and reviews
Markets.com
89%
FxPro information and reviews
FxPro
88%
EUR/USD
1.1730
BTC/USD
47 499.18
GBP/USD
1.3751
USD/JPY
109.9450
USD/CHF
0.9316
USD/CAD
1.2765
EUR/JPY
128.9676

USD woes continue


17 August 2020

The narrow trade-weighted USDIndex edged out a 10-day low at 92.92, following its eighth consecutive weekly fall on Friday, before recovering the 93.00 handle. EURUSD correspondingly whittled out a 10-day peak at 1.1869, before moving back to 1.1840. Cable traded firmer from Friday’s closing level but remained comfortably shy of Friday’s high at 1.3144 and has moved under 1.3100. USDJPY ebbed to within 3 pips of Friday’s six-day low at 106.43.

The softer dollar hypothesis seems to still be in play in markets (negative Treasury yields, the more recent impact of the pandemic in the US relative to Europe and other parts of the world, the political stalemate over the new pandemic relief package, risks presented by US-China tensions, etc.), although seemingly weaker than seen during July, which is reflected by abating momentum in the dollar’s near five-month down trend.

Incoming US data have been showing continued economic recovery alongside an up-tick in inflation, while the coronavirus curves of ICU admissions and mortalities are now dropping sharply, although the “case-demic” and “fear-demic” can be expected to continue (and with a political edge into the November presidential election). Preliminary Q2 GDP data out of Japan today confirmed the worse contracted on record, of -27.8% y/y.

In China, the PBoC added 700 billion Yuan of one year funding, which drove an outperformance in Chinese stock indices today.

Little on the European calendar or agenda today to give direction as equities opened a tad higher and European bond yields have followed the US higher.

#source

Related

US Retail sales and other data has supported Dollar
US Retail sales and other data has supported Dollar

The US Retail sales notably exceeded expectations, adding 0.7% in August vs an expected 0.7% decline. The increase to August last year is an impressive 14.9%...

17 Sep 2021

Geopolitics Fire Up Up and Cryptos Are Booming
Geopolitics Fire Up Up and Cryptos Are Booming

Futures in the United States and Europe are trading lower today as investors are worried about the new security agreement between the U.S., the U.K. and Australia...

16 Sep 2021

UK inflation surges, stocks struggle
UK inflation surges, stocks struggle

European markets flat at the open this morning as UK inflation surged to a record high in August and Chinese economic data was soft. China’s retail sales fell to...

15 Sep 2021

Gold is anxiously waiting for the US inflation data
Gold is anxiously waiting for the US inflation data

Gold, hovering around $1790 since last Thursday, might take an even harder hit. The bears are waiting for a good signal to launch an attack. It is now holding it below significant levels...

14 Sep 2021

Here Is Why Stock Futures Are Trading Lower
Here Is Why Stock Futures Are Trading Lower

Despite a week of doom and gloom in the stock markets, futures in the United States are still trading lower. Since February, the S&P 500 has been on its longest...

13 Sep 2021

Fintech - too big to be?
Fintech - too big to be?

Two of the world’s largest economies are in sync with pressure on their fintech giants. Access to user data and the growth of ecosystems have effectively...

13 Sep 2021


Editors' Picks

OctaFX information and reviews
OctaFX
86%
HotForex information and reviews
HotForex
85%
XM information and reviews
XM
80%
FXCM information and reviews
FXCM
79%
Vantage FX information and reviews
Vantage FX
78%
Moneta Markets information and reviews
Moneta Markets
77%

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.