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
1.1726
BTC/USD
48 224.00
GBP/USD
1.3741
USD/JPY
109.9290
USD/CHF
0.9322
USD/CAD
1.2769
EUR/JPY
128.9017

Dollar extends gains, hitting six-day high


14 October 2020

The dollar index extended its gains on Wednesday and demand for riskier currencies was subdued, as investors became more cautious over rising COVID-19 cases, vaccine trials being paused and U.S. fiscal stimulus talks hitting a new impasse. The rally in global equities started to run out of steam on Tuesday and investors’ risk appetite suffered, with the dollar index seeing its biggest daily jump in three weeks and euro-dollar sliding to a six-day low.

With COVID-19 cases surging in Europe, prompting renewed restrictions on activity, FX strategists at ING said that investors are “de-rating” European growth. On Wednesday, most major currency pairs saw only small moves. The dollar index was at 93.637 at 0724 GMT, up 0.1% on the day and having exceeded the previous session’s high of 93.599.

Hopes for a new coronavirus relief package in the United Sates faded. The Senate is due to vote next week on a targeted $500 billion aid bill of the type that Democrats have already rejected. But analysts said markets expect a victory for Democrat Joe Biden in the U.S. presidential elections that will result in more fiscal stimulus.

The pound was the biggest mover in early London trading, falling 0.3% against both dollar and euro as investors became less hopeful a Brexit will be reached. European Union leaders meeting on Thursday and Friday will say that there is still not enough progress in negotiations to seal a trade deal, according to a draft summit decision seen by Reuters.

With risk appetite subdued, investors steered clear of riskier currencies. The euro was down 0.1% against the dollar at $1.17365, having hit a new one-week low earlier in the session. Also in focus is euro area industrial production data is due at 0900 GMT. The International Monetary Fund gave a slightly improved forecast for the hit to global growth in 2020, but lowered their forecasts for many emerging markets.

#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.