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The U.S. dollar sold off in early European trade Tuesday amid optimism over the global recovery given positive news of a potential coronavirus vaccine as well as the further reopening of economies, prompting investors to edge out of this safe haven.
The dollar has been under pressure Tuesday, with the euro and commodity currencies benefiting from the news that European Union leaders have reached an agreement over a recovery fund for the region and amid renewed hopes for a Covid-19 vaccine.
The pound made a strong start to the week against the U.S. dollar on Monday, despite an ongoing drip of dearie data, but some have warned further gains for the currency will be hard to come by due to uncertainty sparked by the Covid-19 pandemic.
USD/CAD fell to a nearly one-month low on Monday, even as the loonie was pressured by a fall in oil prices from session highs as investors appeared to shrug off a coordinated global production cut from OPEC and its allies.
The dollar was down on Tuesday morning in Asia, reacting to the U.S. Federal Reserve’s announcement on Monday that it would start purchasing a more diverse range of investment grade U.S. corporate bonds.
Emerging market currencies will likely give back recent gains if a resurgence of the coronavirus pandemic continues in the second half of the year, driving foreign exchange flows to the safer U.S. dollar, a Reuters poll of market strategists showed.
The dollar was on the defensive against more growth-sensitive currencies on Thursday, following upbeat U.S. and European economic data but renewed worries about the coronavirus blunted more aggressive risk taking.
Most central European currencies will firm over the next 12 months, a Reuters poll showed, buoyed by improved risk sentiment as investors shrug off worries about a rise in coronavirus cases and focus on hopes of economic recovery.
Alaska Republican Senator Lisa Murkowski said she still hasn’t decided how she’ll vote on President Donald Trump’s nomination of Judy Shelton’s to the Federal Reserve Board of Governors, leaving in doubt whether she has enough support to clear the Senate.
Investors pulled $994 million out of U.S.-based stock funds in the week that ended Wednesday, according to Lipper data released on Thursday, adding another layer of selling during what is shaping up to be a rocky September in the stock market.
Oil prices will stay near current levels this year as rising novel coronavirus cases threaten to slow the pace of demand recovery and counter output curbs by top producers, a Reuters poll showed on Wednesday.
Business is booming at a sea dock in western Turkey, where five hulking cruise ships are being dismantled for scrap metal sales after the COVID-19 pandemic all but destroyed the industry, the head of a ship recyclers' group said on Friday.
Donald Trump returns to the White House, talk on fiscal stimulus progresses, and central bankers line up to promise more. Stocks are drifting lower but oil is well supported ahead of weekly stockpile data. Here's what you need to know in financial markets on Tuesday, October 6th.
When the coronavirus pandemic hit, remote work made for an even better working arrangement. Given the nature of the virus, companies just cannot risk employees’ health. Thus, remote work became the ‘new normal’
The cryptocurrency market continues to have an exciting week, with Bitcoin closing in on $17,000. According to CoinMarketCap, most of the cryptocurrencies have made a positive gain aggregate over the last seven days. Bitcoin is likely to rally a bit more, carrying the entire market upwards before a considerable correction comes into the picture.
Gold has been clawing its way back up after the hit coming from another promising coronavirus vaccine. For the second Monday in a row, a pharmaceutical company published upbeat news about its late-stage COVID-19 immunization trial – sending the precious metal down.
AUD/USD has been on the back foot in recent trade, most recently dropping below the 0.7300 level to set fresh lows of the day around 0.7290s. The pair now trades with losses on the day of around 30 pips or 0.4%.
The U.S. set another daily record for coronavirus cases and the world surpassed 50 million total cases Sunday as President-elect Joe Biden promised to do what President Donald Trump could not: "Get this virus under control."
The United States surpassed 10 million coronavirus cases Monday as hope spread around a potential vaccine when Pfizer announced that early data shows its vaccine candidate is more than 90% effective at preventing infections.
WASHINGTON: Every candidate in the heat of a US presidential campaign talks up their goals for the first 100 days in office and Joe Biden, the Democrat who challenged President Donald Trump and beat him, has done so for months.
The number of confirmed coronavirus cases increased by 21,506 bringing the total case tally to over 597K. Cases have surged over the past couple of weeks, forcing the government to reimpose a month-long lockdown.
The American election is in an exciting phase as the counting is continuing. Both the candidates claim their victory. President Trump has blamed the opposition candidate Biden for stealing his election by fraud.
WASHINGTON — President Donald Trump falsely claimed he had won the presidential election early Wednesday and threatened to ask the U.S. Supreme Court to halt the counting of legally cast absentee ballots he described as a "fraud."
Investor hopes for a decisive early read on the U.S. election were dampened on Tuesday night after initial voting results showed a tight race, with signs some traders were unwinding bets that would benefit from a broad Democratic victory.
Americans will elect their next president on November 3. American voters are confronted with the choice of advancing Trumpian policies or accepting the centrist agenda of Joe Biden. In many ways, this election is likely to determine the long-term direction of the US.
US Presidential Election 2020 LIVE news updates: After attacking the main-in ballot system throughout his campaign, President Donald Trump says that he is gearing up for legal challenges in the counting of mail and absentee votes.
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