Saturday, 04 April 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Dollar Slips Back on Stimulus Hopes; Euro Gains Slightly
Wednesday, 25 March 2020 17:16 WIB | CURRENCIES | EuroDOLLAR

The U.S. dollar has traded lower Wednesday, as currency investors take comfort in the agreement reached over a hefty stimulus package by the U.S., and look to get into currencies perceived as more risky.

Senior Democrats and Republicans in the divided U.S. Congress said late Tuesday they had struck a preliminary deal on a $2 trillion stimulus package to limit the economic damage from the coronavirus pandemic. A vote on the relevant bill has been pencilled in for later Wednesday.

At 4:50 AM ET (08:50 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 101.600, down 0.6% on the day and down over 2% from Monday's high. It's still up more than 2.5% for the month, however.

USD/JPY rose 0.3% to 111.52, but GBP/USD looked perky at 1.1893, up 1.2%, and AUD/USD rose 1.7% to 0.6067, gaining along with most so-called commodity currencies, amid increasing signs of an industrial revival in China that should underpin demand for Australian raw materials.

The dollar was also weaker against emerging currencies such as the rand and ruble, while central European currencies also clawed back recent losses against the euro.

The euro has also pushed higher against the dollar, with EUR/USD trading at 1.0831, up 0.4%, but its gains have been less pronounced, after the Eurogroup made only timid progress in rolling out the region's fiscal backstop, the European Stability Mechanism, at a meeting on Tuesday.

Source : Investing.com

RELATED NEWS
Sterling Drops as British Firms Suffer Record Slump...
Friday, 3 April 2020 23:26 WIB

Sterling sank on Friday after data showed a record slump among Britain's services and manufacturing firms in late March as businesses and households paused activity to try to prevent the spread of the...

Dollar Still in Demand, For Now...
Friday, 3 April 2020 15:17 WIB

The dollar was in demand in early trading in Europe on Friday, as investors sought safety following the dire U.S. unemployment figures which illustrated the extent of the economic fallout from the cor...

Dollar strength consolidates as global recession looms...
Friday, 3 April 2020 08:50 WIB

The dollar edged toward an almost 2% weekly rise on Friday, boosted by a surge in the oil price and as investors sought safety amid the worsening economic fallout from the coronavirus pandemic. The g...

Sterling Hits 3-Week High against Euro, Flat vs Dollar...
Thursday, 2 April 2020 23:39 WIB

Sterling hit a three-week high versus the euro on Thursday and held recent gains versus the dollar, as the British currency was swept up in global market swings that weakened the euro broadly. The po...

Dollar Edges Lower; Petro Currencies Gain on Trump Comments...
Thursday, 2 April 2020 15:24 WIB

The dollar edged lower in European trading Thursday, with investors seemingly prepared to move out of the safe haven into riskier currencies ahead of key U.S. unemployment data. At 3 AM ET (0700 GMT)...

LATEST NEWS
Hong Kong Stocks Head Into Weekend With a Loss (Review)

Hong Kong shares finished Friday with losses, in line with an Asia-wide sell-off, after data showed a massive 6.7 million Americans last week applied for unemployment benefits as the coronavirus shatters the global economy. The Hang Seng Index...

Dow closes more than 350 points lower as job losses hit an 11 year high

U.S. stocks closed lower Friday as investors assessed the economic damage wrought by the coronavirus epidemic, after the Labor Department reported the U.S. economy lost more than 700,000 jobs in March, and that the unemployment rate rose to a near...

U.S. oil prices climb by nearly 32% for the week

Oil futures climbed on Friday, with U.S. prices tallying a weekly gain of almost 32%. Prices extended their Thursday rally on growing expectations that major oil producers will reach an agreement to significantly cut production levels as efforts to...

POPULAR NEWS
Gold Down 4th Straight Session as Traders Cast a Wary Eye on Economic Data Amid Coronavirus Spread
Thursday, 2 April 2020 01:46 WIB

Gold futures on Wednesday started the month with a loss, stretching their decline to a fourth straight session, as traders cast a wary eye on the...

Gold Futures End Higher as Weekly Jobless Claims Climb to Record
Friday, 3 April 2020 01:29 WIB

Gold futures ended higher on Thursday, with the haven metal getting a boost on the heels of a climb in U.S. weekly jobless claims to a record 6.6...

Gold Attempts To Bounce Higher To Start April, Second Quarter Amid Coronavirus Spread
Wednesday, 1 April 2020 20:22 WIB

Gold futures were attempting to regain some traction higher on Wednesday to start the new month and quarter, amid expectations of increasingly poor...

Gold Prices Up Amid Fears of Unending Economic Turbulence
Thursday, 2 April 2020 09:33 WIB

Gold prices in Asia were up on Thursday as investors prepare for continuous economic turbulence. Gold futures were up by 0.41% at $1,598 by 10:21...