FOREXDollar Archives - Zxcoachoutlet

FOREX-Dollar drifts downward as investors cling to stimulus hopes

October 9, 2020

By Tom Westbrook

SINGAPORE, Oct 9 (Reuters) – The dollar drifted toward a second consecutive weekly loss on Friday, as higher commodity prices and persistent hopes for U.S. stimulus supported investor sentiment and riskier currencies.

Talks have resumed between U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin over coronavirus aid plans, two days after President Donald Trump ended them.

Limited progress kept dollar losses and other majors’ gains modest overnight, but the dollar eased 0.06% against a basket of currencies =USD and it is down 0.3% for the week.

The prospect of stimulus to support recovery in the world’s biggest economy has weighed on the dollar in the short-term by improving investors’ mood and their willingness to buy riskier assets such as stocks and commodity currencies.

Investors are also regarding improving chances of a Joe Biden presidency as increasing the likelihood of stimulus, since Democrats are pressing

FOREX-Dollar, yen sold as U.S. stimulus hopes boost sentiment

October 8, 2020

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By Tom Westbrook

SINGAPORE, Oct 8 (Reuters) – The safe-haven dollar and yen nursed losses on Thursday, after the revival of hopes for some U.S. spending improved investor sentiment and appetite for riskier currencies.

A flurry of late-Tuesday tweets from President Donald Trump, after he cancelled talks with Democrats over coronavirus relief, suggested he was open to piecemeal spending measures.

That lifted equity markets and commodity currencies and sank the safe-haven yen JPY= to a three-week low of 106.11 per dollar overnight. The dollar was weaker on most other majors.

The euro EUR= edged up 0.2% to $1.1767 and held there early in the Asia session. The risk-sensitive Australian dollar AUD=D3 lifted off a one-week low and rose about 0.5% overnight to hold at $0.7137 in Asia. AUD/

With no fresh clues on stimulus, morning moves were slight and leaned in favour of the greenback. The New Zealand dollar

FOREX-Dollar dips on hopes of some stimulus, markets price for a Biden victory

October 7, 2020

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By Karen Brettell

NEW YORK, Oct 7 (Reuters) – The dollar dipped on Wednesday as risk appetite improved on hopes of at least some new fiscal stimulus before the November 3 U.S. Presidential election, and as investors priced for the prospect of a Democrat victory next month.

President Donald Trump said late on Tuesday that Congress should quickly extend $25 billion in new payroll assistance to U.S. passenger airlines furloughing thousands of workers as air travel remains down sharply amid the coronavirus pandemic.

Trump had earlier on Tuesday abruptly ended talks with Democrats on an economic aid package, which sent stock markets tumbling and boosted demand for the dollar.

“Those comments about having some options regarding putting some of the stimulus plans back in action certainly has buoyed the market and injected more optimism, and you can see that’s why the dollar’s weaker today, it’s really a ‘risk on’

FOREX-Dollar steadies as angst over Trump’s stimulus stance fades

October 7, 2020

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By Julien Ponthus

LONDON, Oct 7 (Reuters) – The dollar steadied on Wednesday, ticking down against most currencies after an initial jump triggered by U.S. President Donald Trump cancelling stimulus talks with Democrat lawmakers, a move which increased demand for safe-haven assets.

Trump’s surprise decision to call off stimulus talks until after the Nov. 3 presidential election initiated a selling spree on Wall Street with investors bracing for fresh downside risks for an already shaky U.S. economy.

The initial shock from the announcement eased when the U.S. President later asked Congress to extend $25 billion in new payroll assistance to U.S. passenger airlines.

Sentiment improved overnight in Asia where markets hit a two-week high and U.S. stock futures made their way back to positive territory.

All in all, analysts said the renewed uncertainty over stimulus would encourage investors to trade riskier currencies cautiously.

“This is set to reinstate caution

FOREX-Dollar steadies after falling on sharper risk appetite

October 6, 2020

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By Olga Cotaga

LONDON, Oct 6 (Reuters) – The dollar stabilised on Tuesday after weakening against most currencies in earlier trade, as rising optimism that U.S. lawmakers could agree on new stimulus to blunt the economic impact of the coronavirus dampened demand for safer assets.

Risk appetite also improved after U.S. President Donald Trump left hospital and returned to the White House following treatment for COVID-19, a development viewed as reducing political uncertainties in the near term.

The lead taken by Trump’s presidential opponent Joe Biden in polls ahead of next month’s election is also seen as negative for the U.S. currency.

“The increasing possibility of a “blue wave” (Democrat control of the White House and Congress) that would open the door for much-needed fiscal stimulus would be a welcome development for risk assets and could undermine the U.S. dollar,” said Lee Hardman, currency analyst at MUFG.

An index

FOREX-Dollar weaker as US fiscal stimulus hopes lift risk appetite

October 6, 2020

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By Olga Cotaga

LONDON, Oct 6 (Reuters) – The dollar was on the defensive against most currencies on Tuesday as rising optimism that U.S. lawmakers could agree on new stimulus to blunt the economic impact of the coronavirus dampened demand for safer assets.

Risk appetite also improved after U.S. President Donald Trump left hospital and returned to the White House following treatment for COVID-19, a development viewed as reducing political uncertainties in the near term.

The lead taken by Trump’s presidential opponent Joe Biden in electoral polls ahead of next month’s election is also seen as negative for the U.S. currency.

“The increasing possibility of a “blue wave” (Democrat control of the White House and Congress) that would open the door for much-needed fiscal stimulus would be a welcome development for risk assets and could undermine the U.S. dollar,” said Lee Hardman, currency analyst at MUFG.

An index

FOREX-Dollar holds tight ranges as investors await news on Trump’s health

October 5, 2020

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By Eimi Yamamitsu

TOKYO, Oct 5 (Reuters) – The dollar clung to familiar ranges on Monday as financial markets awaited news on the health of U.S. President Donald Trump, who last week tested positive for the coronavirus, sending investors into safe-haven assets.

Risk-sensitive markets such as stocks rallied in early Asian trade after Trump made a surprise appearance outside his hospital with an impromptu motorcade.

But with Trump’s medical status still unclear, the dollar index =USD remained little changed against a basket of six major currencies, last sitting at 93.738.

“With not a lot of major economic indicators released this week, the focus all comes down to Trump’s illness,” said Daisuke Uno, chief strategist at Sumitomo Mitsui Bank.

“There is a welter of information about the severity of his condition, and that is making it difficult for market participants to make a move,” Uno said.

Trump was flown to

FOREX-Dollar loses ground on hopes for compromise on U.S. stimulus

October 1, 2020

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By Tom Westbrook and Stanley White

SINGAPORE/TOKYO, Oct 1 (Reuters) – The dollar was on the defensive at a one-week low on Thursday, as robust U.S. data and fresh hopes for U.S. fiscal stimulus had investors confident enough about economic recovery prospects to seek out riskier currencies.

Republican President Donald Trump’s administration has proposed a coronavirus stimulus package to House Democrats worth more than $1.5 trillion, and hopes are rising that both parties will reach a compromise.

Along with strong U.S. labour and manufacturing data, that helped stocks to rally, and the mood pulled the dollar to a one-week low of 93.664 against a basket of currencies =USD. MKTS/GLOB

Early in the Asia session, the New Zealand dollar NZD=D3 extended gains to a one-week peak of $0.6635. The Aussie AUD=D3 rose to $0.7183, also the strongest in a week. AUD/

“The two sides have come a long way,”

FOREX-Dollar holds line after Trump, Biden clash in first debate

September 30, 2020

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By Eimi Yamamitsu

TOKYO, Sept 30 (Reuters) – The dollar was little changed in Asian trade on Wednesday, as traders assessed a fierce first debate between Republican President Donald Trump and Democratic rival Joe Biden ahead of the Nov. 3 U.S. presidential election.

In the pivotal debate, marked by Trump’s repeated interruptions in a chaotic encounter, the candidates battled over the president’s leadership on the coronavirus pandemic, the economy and taxes.

The dollar index against a basket of currencies hardly budged at 93.821 =USD, after hitting a two-month high last week.

Analysts said neither candidate emerged from the debate with a decisive advantage.

“It’s like as if they are both just insulting each other. There is not much impact on the markets,” Tohru Sasaki, head of Japan market research at J.P.Morgan.

Month- and quarter-end currency flows appeared to hamper the greenback, while better-than-expected U.S. economic data also dented

FOREX-Dollar skids as investors await 1st U.S. presidential debate

September 29, 2020

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By Gertrude Chavez-Dreyfuss

NEW YORK, Sept 29 (Reuters) – The dollar on Tuesday dropped from last week’s two-month highs, as investors capitalized on recent gains in the greenback and cautiously looked ahead to the first debate between U.S. President Donald Trump and Democratic challenger Joe Biden.

The U.S. currency fell to one-week lows against the euro and Swiss franc, and dropped against commodity currencies such as the Australian and New Zealand dollars as well as the Norwegian crown.

The 90-minute televised debate between the two U.S. presidential candidates at 9 p.m. EDT (0100 GMT) will be watched by investors looking for guidance on the candidates’ prospects.

“The debate is so much awaited because of all the political tensions going and also because economically both candidates have different visions for the country,” said Juan Perez, senior currency trader, at Tempus Inc in Washington.

“There is a lot more volatility on