FOREX TradingCharts.com

Forex News: U.S. Dollar Appreciates As Treasury Yields Rise Amid

U.S. Dollar Appreciates As Treasury Yields Rise Amid Stimulus Optimism

03/12/2021 - 04:31:00 (RTTNews)

(RTTNews) - The U.S. dollar spiked up against its key counterparts during the European morning session on Friday, as U.S. Treasury yields rose after President Joe Biden's signing of a COVID-19 relief package into law, boosting expectations for a faster growth and inflation.

Biden signed the $1.9 trillion stimulus package on Thursday afternoon, marking a major legislative victory since assuming office in January.

The plan provides direct payments of up to $1,400, extends $300 per week jobless benefits and grant funds for vaccine distribution.

In his signing ceremony, Biden pledged aggressive action to speed vaccinations and move the country closer to normality by July 4.

U.S. bond yields firmed, with the benchmark 10-year Treasury yields rising to 1.59 percent.

The U.S. producer price index and University of Michigan's preliminary consumer sentiment index are due later in the day.

The greenback reversed from its early lows of 0.9231 against the franc and 1.1989 against the euro, gaining to 0.9305 and 1.1928, respectively. The next likely resistance for the greenback is seen around 0.95 against the franc and 1.16 against the euro.

After falling to 108.49 against the yen and 0.7233 against the kiwi in prior deals, the greenback advanced to a 3-day high of 109.17 and a 2-day high of 0.7179, respectively. The greenback may face resistance around 112.00 against the yen and 0.70 against the kiwi.

The greenback edged up to 1.3931 against the pound, from an 8-day low of 1.4005 set at 8:00 pm ET. Next immediate resistance for the dollar is seen near the 1.37 level.

The greenback climbed to 1.2572 against the loonie and 0.7741 against the aussie, coming off from its early low of 1.2524 and an 8-day low of 0.7801, respectively. On the upside, 1.29 and 0.74 are possibly seen as the next resistance levels for the greenback against the loonie and the aussie, respectively.

Looking ahead, Eurozone industrial production for January is due in the European session.

Canada jobs data and U.S. PPI for February and University of Michigan's preliminary U.S. consumer sentiment index for March will be featured in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Little Changed After U.S. Consumer Sentiment Index (05 hr(s), 46 min(s), 32 sec(s) ago)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for April has be ...Full Story»

Dollar Steady Before U.S. Consumer Sentiment Index (05 hr(s), 52 min(s), 32 sec(s) ago)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for April is due ...Full Story»

Dollar Little Changed Following U.S. Housing Starts Data (07 hr(s), 13 min(s), 32 sec(s) ago)
(RTTNews) - After the release of U.S. housing starts and building permits for March at 8.30 am ET ...Full Story»

Dollar Mixed Ahead Of U.S. Housing Starts Data (07 hr(s), 22 min(s), 32 sec(s) ago)
(RTTNews) - The U.S. housing starts and building permits for March will be published at 8.30 am ET ...Full Story»

Loonie Mixed Ahead Of Canada Housing Starts (07 hr(s), 37 min(s), 32 sec(s) ago)
(RTTNews) - At 8:15 am ET Friday, Canada housing starts for March are due. Ahead of the data, the ...Full Story»

Japanese Yen Falls On Economic Optimism (08 hr(s), 40 min(s), 32 sec(s) ago)
(RTTNews) - The Japanese yen dropped against its key counterparts during the European session on F ...Full Story»

Euro Little Changed After Eurozone CPI (10 hr(s), 43 min(s), 31 sec(s) ago)
(RTTNews) - At 5.00 am ET Friday, Eurostat has released final consumer prices and foreign trade da ...Full Story»

Euro Mixed Ahead Of Eurozone CPI (10 hr(s), 49 min(s), 32 sec(s) ago)
(RTTNews) - At 5.00 am ET Friday, Eurostat publishes final consumer prices and foreign trade data. ...Full Story»

Search

FOREX NEWS

Dollar Little Changed After U.S. Consumer Sentiment Index

04/16/2021 - 10:04 AM (RTTNews)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for April has be ...Full Story>>

Dollar Steady Before U.S. Consumer Sentiment Index

04/16/2021 - 09:57 AM (RTTNews)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for April is due ...Full Story>>

Dollar Little Changed Following U.S. Housing Starts Data

04/16/2021 - 08:36 AM (RTTNews)
(RTTNews) - After the release of U.S. housing starts and building permits for March at 8.30 am ET ...Full Story>>

Dollar Mixed Ahead Of U.S. Housing Starts Data

04/16/2021 - 08:28 AM (RTTNews)
(RTTNews) - The U.S. housing starts and building permits for March will be published at 8.30 am ET ...Full Story>>

Loonie Mixed Ahead Of Canada Housing Starts

04/16/2021 - 08:12 AM (RTTNews)
(RTTNews) - At 8:15 am ET Friday, Canada housing starts for March are due. Ahead of the data, the ...Full Story>>

Do not sell my personal information

Copyright © 2021. 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.