US Dollar trades below 93 mark despite steep equities selloff
US dollar continues to trade below 93 levels despite the massive stock price selloff on concerns stemming from record growth in daily virus infections. US and European stock markets lodged the largest daily decline in the past few months on Monday and extended that downtrend in Tuesday trading.
US Dollar Recover Losses amid Bearish Sentiments for Riskier Assets
US Dollar bounced back as investor's concerns over the second coronavirus wave have lowered the focus towards the riskier assets. The fading hopes on the stimulus package have also negatively impacted riskier assets in the past few days.
US Dollar Dips on Chinese Data, Riskier Currencies Soar
US dollar fell sharply on Monday after news that Chinese gross domestic product grew 4.9% in the third quarter, driven by robust industrial and retail sales growth. Asian currencies soared after the reports of acceleration in the Chinese economy.
European Stocks are Mostly Lower, US Stocks Extends Losses
European stocks reported losses in Thursday trading amid setbacks in politics, earnings, and the pandemic. Although the selling pressure is not strong, the major market indices are trading in negative territory for the second consecutive day.
Goldman Sachs is Bearish on the US Dollar, Yuan Falls
US Dollar has been trading in a tight range over the past few months after falling sharply during the second quarter. While the USD index is down more than 4% year to date against the basket of six major currencies, Goldman Sachs suggests investors place short positions on the greenback as the firm sees limited upside in the final quarter this year.
US Dollar Recover From Three Weeks Low, Euro is Steady
US dollar recovered slightly from three weeks low that it had hit last week. The USD index reported the largest daily loss in six weeks on Friday as traders focus moved towards the risker assets such as equities and the euro amid renewed hopes over the second US stimulus package.
US Dollar Dips on Equities Rally, Trump Tweet in Focus
US dollar fell slightly from Tuesday high as investors focus moved towards risker currencies and assets after Donald Trump announced that new aid is coming for the airline industry. Wall Street posted big gains on Wednesday and extended the upside into Thursday trading.
US Dollar Retreats on Rally in Riskier Assets, Trump Leaves Hospital
US dollar slipped sharply after reports that Donald Trump is discharged from the hospital and his health conditions are sound. The report has sparked the rally in risker assets including stocks, gold, and commodity-related currencies.
EUR/JPY Bullish Bounce off 61.8%
EUR/JPY sold down into the 61.8% Fibonacci and buyers came in to support price at 123.160 zone which was prior resistance. EUR/JPY – Retest of 200 EMA to provide entry for long side with confirmation of bullish candle signal. Key Points: Daily – Price above 200 EMA Daily…
US Dollar Cools Off from Eight Week High as Equities Gain Momentum
US dollar rally faded in the Friday trade as global stock markets started reversing losses despite increasing coronavirus infections and concerns over economic recovery. The USD index, which tracks the US dollar against the basket of six currencies, fell back to 94.40 level after hitting two months high of 94.60 level in Thursday trading.
US Dollar Jump to Six Week High, Gold and Euro Tumble
US dollar rally gained further momentum on Wednesday as global equity markets are losing investor’s confidence due to the threat of the second coronavirus wave. The risk of fresh economic and traveling restrictions has added to the greenback value.
US dollar index Rebounds on Riskier Assets Selloff, Gold Tumbles
US dollar bounced back sharply at the beginning of this week amid a sharp drop in equities and risker currencies. The significant growth in coronavirus infections along with the threat of new lockdown and economic restrictions pushed the US dollar higher against the basket of six major currencies.
EUR/GBP Bearish Momentum to Continue?
The confirmation for this EUR/GBP continuation would be a solid close below the trend line, but for higher reward to risk ratios, candlestick reversals at the APEX are also desired. Wedge patterns are generally a sign of trend continuation when broken to the downside, and when found within bearish momentum…