We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • S&P 500 Forecast: Stocks Face Peril as Day of Reckoning Looms Link: https://www.dailyfx.com/forex/fundamental/article/special_report/2020/06/01/spx-sp500-forecast-stocks-face-peril-as-day-of-reckoning-looms.html $SPX $SPY $ES_F #StockMarket #Investing #Analysis https://t.co/sufK8mMtD4
  • #ASEAN currencies (such as SGD, IDR, PHP and MYR) are relatively outperforming the #USD at a stronger pace than the Indian #Rupee vs the Greenback. This is despite notable gains in the MSCI #EmergingMarkets Index. Full $USDINR, #Nifty piece to come later today! https://t.co/n0SlkfnYOV
  • Seasonal factors, oversupply issues and the outbreak of COVID-19 has seen the price of liquefied #naturalgas (LNG) fall to 22-year lows (1.519), with the situation exacerbated by ‘fuller-than-normal’ storage facilities. Get your market update here:https://t.co/VOqfkBQ4aR https://t.co/9gFVefFC3w
  • ⬇️Asia-Pacific Preview⬇️ - Wall Street buoyancy may spill over into Asia as investors shrug at domestic unrest - AUD and #NZD could rise with APAC stocks despite HK risks - #AUDUSD blew past key resistance and may now challenge multi-week swing-high https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/06/01/AUD-NZD-May-Rise-With-APAC-Stocks-Ahead-of-RBA-Rate-Decision.html
  • 🇰🇷 GDP Growth Rate YoY Final Actual: 1.4% Previous: 2.3% https://www.dailyfx.com/economic-calendar#2020-06-01
  • 🇰🇷 GDP Growth Rate QoQ Final Actual: -1.3% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2020-06-01
  • 🇳🇿 Building Permits MoM Actual: -6.5% Previous: -21.7% https://www.dailyfx.com/economic-calendar#2020-06-01
  • Trumps says he will deploy military if cities, states won't act. Says he is dispatching 'thousands' of armed soldiers -BBG
  • Trump says he recommended governors deploy National Guard, told them to deploy guard to 'dominate' streets -BBG
  • US President Donald Trump: His first duty is to defend the country, people. Instances of violence 'acts of domestic terror'. Mobilizing civilian, military resources to stop rioting -BBG
U.S. Dollar Lower as Offshore Economic Data Improves

U.S. Dollar Lower as Offshore Economic Data Improves

2013-04-12 03:51:00
Christopher Almeida,
Share:
U.S._Dollar_Lower_as_Offshore_Economic_Data_Improves__body_april_12th_rewind_2013.png, U.S. Dollar Lower as Offshore Economic Data Improves

Created Using Marketscope 2.0

THE TAKEAWAY: The U.S Dollar after a strong start, ended the week lower as data from overseas economies showed improvements and investors sold their safe haven assets.

The U.S. Dollar had a strong start to the week as the currency - amongst others - opened higher against the Yen on the back of the Bank of Japan pledging approximately $1.4 trillion into the Japanese economy to help end deflation. These gains were reinforced as investors saw risk returning to the Euro-zone as newswires reported that Cyprus had not yet turned to Russia for loans and that it would be discussed at the next G-20 summit.

The Greenback started its decline as the Chairman of the Federal Reserve, Ben Bernanke, spoke at the Atlanta Federal Reserve Conference in Georgia. In his speech, Bernanke outlined the improvements in U.S. Banks which showed better results in their most recent set of stress tests whilst also reiterating that QE by Central Banks was ‘mutually constructive.’ This gave comfort to investors seeking higher return in riskier investments as they took their funds out of the so called ‘safe haven’ currency.

Strong factory data out of the U.K. saw the Dollar fall further against the Pound and as China announced a surprise trade deficit with an increase in imports, the strong Australian Dollar forced the Greenback lower still. As the FOMC released their Minutes from their March meeting, the Dollar remained stubbornly stagnant as the S&P500 rose with some committee members anticipating that asset purchases could slow and potentially stop by year end. Finally the ECB’s monthly report released late in the week saw an economic recovery projected for the second half of this year with the Central Bank willing to remain accommodative for as long as needed. The Euro rallied against its American partner as investors regained confidence in the Euro-zone and were prepared to seek returns through other instruments than the safe haven asset.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.