The United States Dollar and News of the Foreign Market

The United States Dollar and News of the Foreign Market

The United States dollar tractioned on the forefront, against other major currencies. The ICE dollar index climbed 0.3% to 100.20, on the day.

The pair of GBP/USD plunged 1.1% to 1.2299. Andy Haldane is Bank of England Chief Economist. He said that economic data would be very ugly for the first half of the year. The United Kingdom’s rate of joblessness edged up to 4.0% (a steady a 3.9% expected), for the three months to February. It shows the latest official jobs report. CPI data for March will be reported, on the other hand, later in the day.

EUR/USD pair fell 0.1% to 1.0855. Giuseppe Conte is the Prime Minister of Italy. He said that his government would analyze plans to ease lockdowns gradually in the next few days. Thus, it might apply from May 4. Moreover, the German ZEW Current Situation Index plunged to -91.5 in April (-75.0 expected) from -43.1 in March, regarding economic data. Nonetheless, the expectations bounced from -49.5 to 28.2 (-42.0 expected).

The United States

USD/JPY pair gained 0.1% to 107.71.

The Canadian dollar slid against the United States dollar for a second straight week on continued weakness in oil prices. USD/CAD raised 0.3% to a two-week high of 1.4193. Meanwhile, official data showed that in February, sales of Canada’s retail increased by 0.3%. The CPI rise for March will be released later the day.

The NZD/USD pair slumped 1.2% to 0.5963. Adrian Orr is the New Zealand’s Reserve Bank’s governor. He said that at its meeting in May, the central bank would assess the needs for additional stimulus.

Now we know that the world economy is under a considerable challenge. The fast-spreading coronavirus hits the global economy. In most of the countries, there are lockdowns and quarantine. Moreover, social distancing is advised everywhere. Thus, the market is in danger too. Let us hope that situation will change soon. Everyone is waiting economy to be back in track. Because of the lockdowns, money is not circulating.

 

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