USD news

The EUR/USD pair rose slightly today after the Bureau of Labour Statistics (BLS) released disappointing April nonfarm payroll numbers. US nonfarm payrolls numbers According to the Labour department, more than 20.5 million Americans lost their jobs in April as most states asked their residents to remain at home. Analysts polled by Bloomberg were expecting the NFP to decline by 21 million while those polled by Reuters were looking at 22 million. Mo...

The EUR/USD pair dropped as the market reacted to the latest US jobless claims data. The numbers showed how the US economy is deteriorating as the lockdown, and social distancing measures remain. They also point to the worst nonfarm payrolls data that will be released tomorrow. US jobless claims data disappoint More than 3.169 million Americans filed for jobless claims last week, according to data from the Department of Labour. The data means tha...

The US dollar index rose as the market reacted to the latest trade and ISM non-manufacturing PMI data. It also rose due the euro weakness following the decision by a German court to question the legality of Quantitative easing. The EUR/USD pair declined by more than 60 basis points today. US trade declines in April The US trade numbers disappointed in March as the coronavirus pandemic reduced imports and exports. According to the Bureau of Econom...

EUR/USD has gained nearly 2.5% in the past seven days on a broader USD weakness. The buyers are now attempting to break the psychologically-important $1.10 resistance, with further gains possible on the bullish inverse head and shoulder chart pattern. Fundamental analysis: ECB issues a warning The chief economist at European Central Bank (ECB), Philip Lane, said that the bank can further adjust its instruments if needed in another attempt to reas...

The EUR/USD pair rose after the Bureau of Economic Analysis (BEA) released weak US Q1 GDP data. The market is now waiting for the Fed interest rate decision, which will be released later today. US Q1 GDP data disappoint Preliminary data from the BEA showed that the US economy slumped by 4.8% in the first quarter. This growth was worse than what most analysts polled by Refinitiv were expecting. Analysts at Wells Fargo were expecting the economy to...

The EUR/USD pair rose today as traders reacted to weak US durable goods orders. These are the latest numbers to show the strain the US economy is in during the coronavirus pandemic. Investors also reacted to the deliberations in the European Union about forming a recovery fund. EUR/USD rises after disappointing durable goods orders US durable goods orders disappoint Investors reacted swiftly to the weak durable goods orders numbers released by th...

The EUR/USD rose as the market reacted to the new jobless claims data from the Labour Department. The numbers showed that millions of Americans have filed for unemployment benefits in the past five weeks. The market also reacted to the weak manufacturing PMI and housing data. EUR/USD rises after weak manufacturing PMI, jobless claims, and housing data US jobless claims tally rises The number of Americans filing for unemployment benefits rose by m...

Turkish Central Bank (TCB) slashed its key interest rate by 100 basis points, from 9.75% to 8.75%. USD/TRY reacted by moving slightly higher to test the $7.00 handle, near the record high of $7.08. Fundamental analysis: Central banks make an aggressive move In a surprising move, the TCB said it had decided to cut the key interest rate by 100 basis points to 8.75%. Analysts, surveyed by Reuters, expected a 0.50% cut.  The bank also said it ha...

The US dollar rose after the Labour Department released the jobless claims data for the previous week. The data showed that more than 5.2 million Americans filed for unemployment insurance in the week ending on April 10. US dollar index rises after weak jobless claims US jobless claims data The number released today was lower than the 6.6 million that was released last week. Analysts polled by Dow Jones were expecting the number to be 5.1 million...

The USD/CAD pair roseafter the Bank of Canada (BOC) concluded its two-day monetary policy meeting. The bank left interest rates unchanged at 0.25%, and increased its asset purchases. The Canadian dollar also eased because of the falling oil prices. USD/CAD rises after BOC delivers monetary policy decision Bank of Canada decision The Canadian economy is facing its biggest declines since the great depression because of the current coronavirus pande...

The EUR/USD pair dropped today amid a series of weak economic data from the United States. The Mortgage Bankers Association (MBA) released negative mortgage data for the second straight week while the Census Bureau released weak retail sales numbers. The New York manufacturing index also dropped to its lowest level on record. EUR/USD pair falls on a slew of negative data Mortgage data disappoint The current coronavirus pandemic has decimated the...

USD/JPY has lost around 2% in the past few days after it failed to move above the $109.40 resistance. In the meantime, Bank of Japan (BoJ) is considering new measures to ease corporate funding strains and inject more funds into companies. Fundamental analysis: BoJ considering a set of new measures Reuters reported earlier today that the BoJ is considering new actions to “ease corporate funding strains” and inject more funds into the e...

The US dollar index declined by 35 basis points as the earnings season kicked-off. The currency also reacted to a damning report by the IMF and signs that European countries were preparing to open up their economies. US dollar falls by 35 basis points after IMF warning IMF warns of global growth The International Monetary Fund (IMF) released a damning report projecting the worst financial crisis since the great depression of the 1920s. The organi...

The US dollar index struggled for direction as investors shifted their focus to the upcoming season. The dollar also reacted to the falling oil prices and the recent actions by the Federal Reserve. US dollar index wobbles ahead of earnings Investors eye corporate earnings US stocks have rallied in the past two weeks, with the Dow Jones, S&P 500, and Nasdaq gaining by more than 18%. These gains have been driven by the government and Federal Re...

The US dollar index declined today after the government released weak consumer price index (CPI) data. The numbers from the Department of Labour showed that the overall consumer prices declined by 0.4%in March. This was lower than the previous increase of 0.1% and the sharpest drop since 2015. The prices rose by 1.5%on an annualised basis. US dollar index falls after weak CPI data US CPI data disappoint The main laggard for consumer prices was en...

Gold ended on a high note on Thursday, reacting to dismal jobs data and the Fed’s announcement of a $2.3 trillion additional stimulus package. The unemployment data prompted fears of economic distress, while the Fed action raised concerns of additional liquidity – both supportive of gold prices. Comex gold futures for June delivery closed the day at $1736.20, gaining a solid $70.80, or 4.2%. The yellow metal’s session high was $...

The USD/CAD pair dropped by more than 25 basis points as investors reacted to weak employment numbers from the US and Canada. Investors also reacted to the latest action by the Federal Reserve and a deal reached between OPEC and Russia. Canadian dollar boosted by OPEC+ deal Canada jobs numbers disappoint Canada has been struck by the current coronavirus pandemic. The country has confirmed more than 19,000 cases. As a result, the government has an...