FOREX TradingCharts.com

Forex News: Dollar Climbs On Hopes Of U.S. Stimulus Package

Dollar Climbs On Hopes Of U.S. Stimulus Package

03/13/2020 - 10:07:00 (RTTNews)

(RTTNews) - The U.S. dollar strengthened against its major counterparts in the European session on Friday, as expectations of U.S. stimulus package helped soothe fears about the economic fallout from the coronavirus crisis.

House Speaker Nancy Pelos indicated that U.S. lawmakers and the White House could agree on a stimulus package today.

China cut its reserve requirement ratio for the second time this year, releasing 550 billion yuan in liquidity.

European stocks recovered from their huge sell-off on Thursday. Stimulus from the European Central Bank and a U.S. travel ban to prevent the outbreak's spread failed to calm market fears.

Data from the Labor Department showed a decrease in U.S. import prices in the month of February.

The Labor Department said import prices fell by 0.5 percent in February after inching up by a revised 0.1 percent in January.

The greenback appreciated to 1.2456 against the pound, its biggest since October 11. The greenback is seen finding resistance around the 1.22 mark.

The greenback edged higher to 1.1103 against the euro, from a low of 1.1221 seen at 12:45 am ET. Next key resistance for the greenback is likely seen around the 1.10 level.

Final data from Destatis showed that Germany's consumer prices increased a steady pace in February.

Consumer price inflation remained unchanged at 1.7 percent in February. This was in line with the estimate published on February 28.

Extending early rally, the greenback moved up to an 8-day high of 107.50 against the yen. The greenback is likely to face resistance around the 109.00 region, if it gains again.

The Bank of Japan said it will provide ample liquidity and ensure stability in the financial markets amid high volatility triggered by coronavirus outbreak fears.

Taking into account the rapid fall in liquidity in the bond market, the BoJ conducted unscheduled outright purchase of Japanese government bonds, or JGBs, on Friday. The bank said it will conduct additional outright purchases as needed.

The greenback was up at 0.9555 against the franc, an 8-day high. Should the greenback strengthens further, it is likely to test resistance around the 0.97 region.

The greenback was trading on a positive note versus the kiwi, at 0.6147. Further rally may test resistance around the 0.60 area.

In contrast, the greenback fell against the loonie and was trading at 1.3865. Immediate support is seen near the 1.37 level.

The greenback held steady against the aussie, after having recovered from a low of 0.6325 seen in the previous session. The pair had finished yesterday's deals at 0.6235.

The University of Michigan's consumer sentiment index for March is due at 10:00 am ET.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


U.S. Dollar Higher Amid Coronavirus Fears (24 min(s), 03 sec(s) ago)
(RTTNews) - The U.S. dollar firmed against its major counterparts in the European session on Frida ...Full Story»

Dollar Ticks Up Following U.S. Jobs Data (45 min(s), 03 sec(s) ago)
(RTTNews) - Following the release of U.S. nonfarm payrolls data for March at 8:30 am ET Friday, th ...Full Story»

Dollar Rises Vs Most Majors Ahead Of U.S. Jobs Data (39 min(s), 03 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, the Labor Department will release U.S. nonfarm payrolls data for ...Full Story»

Pound Falls Sharply As U.K. Services PMI Shrinks To Record Low (09 min(s), 03 sec(s) ago)
(RTTNews) - The pound moved down against its major counterparts in the European session on Friday, ...Full Story»

Euro Little Changed After Eurozone Retail Sales (15 min(s), 03 sec(s) ago)
(RTTNews) - At 5.00 am ET Friday, Eurostat has issued euro area retail sales for February. The eur ...Full Story»

Euro Mixed Ahead Of Eurozone Retail Sales (06 min(s), 03 sec(s) ago)
(RTTNews) - At 5.00 am ET Friday, Eurostat is scheduled to issue euro area retail sales for Februa ...Full Story»

Pound Little Changed After U.K. PMI Data (42 min(s), 04 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, UK final PMI data has been released. The pound changed little ag ...Full Story»

Pound Mixed Ahead Of U.K. PMI Data (36 min(s), 03 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, UK final PMI data is due. The final composite PMI is expected to ...Full Story»

Search

FOREX NEWS

U.S. Dollar Higher Amid Coronavirus Fears

04/03/2020 - 10:14 AM (RTTNews)
(RTTNews) - The U.S. dollar firmed against its major counterparts in the European session on Frida ...Full Story>>

Dollar Ticks Up Following U.S. Jobs Data

04/03/2020 - 08:34 AM (RTTNews)
(RTTNews) - Following the release of U.S. nonfarm payrolls data for March at 8:30 am ET Friday, th ...Full Story>>

Dollar Rises Vs Most Majors Ahead Of U.S. Jobs Data

04/03/2020 - 08:27 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, the Labor Department will release U.S. nonfarm payrolls data for ...Full Story>>

Pound Falls Sharply As U.K. Services PMI Shrinks To Record Low

04/03/2020 - 06:57 AM (RTTNews)
(RTTNews) - The pound moved down against its major counterparts in the European session on Friday, ...Full Story>>

Euro Little Changed After Eurozone Retail Sales

04/03/2020 - 05:03 AM (RTTNews)
(RTTNews) - At 5.00 am ET Friday, Eurostat has issued euro area retail sales for February. The eur ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.