FOREX TradingCharts.com

Forex News: U.S. Dollar Lower On Growing Stimulus Hopes

U.S. Dollar Lower On Growing Stimulus Hopes

02/09/2021 - 03:28:00 (RTTNews)

(RTTNews) - The U.S. dollar depreciated against its major counterparts in the Asian session on Tuesday, as most Asian shares climbed on growing optimism over the passage of a $1.9 trillion stimulus package by the U.S. government.

House Democrats released a draft of stimulus plan on Monday evening, which includes $1,400 stimulus checks, $400 federal unemployment benefits, funding to state and local governments and vaccine distribution among other provisions.

Democrats are rushing to put the stimulus plan for a floor vote by the end of the month. Thereafter, the bill would go to the Senate for approval.

China's central bank pledged a "stable" monetary policy after recent concerns about liquidity squeeze.

In its monetary policy report released on Monday, the PBOC promised to keep monetary policy flexible and precise in order to strike a balance between economic recovery and risk prevention.

The greenback dropped to 1-week lows of 1.2087 against the euro and 0.8956 against the franc, from its prior highs of 1.2044 and 0.8991, respectively. Next key support for the greenback is likely seen around 1.23 against the euro and 0.86 against the franc.

Retreating from its early highs of 1.3732 against the pound and 105.26 against the yen, the greenback fell to near a 3-year low of 1.3788 and an 8-day low of 104.75, respectively. If the greenback drops further, 1.41 and 100.00 are possibly seen as its next support levels against the pound and the yen, respectively.

The greenback slipped to near a 2-week low of 1.2719 against the loonie, 2-week low of 0.7731 against the aussie and near a 5-week low of 0.7255 against the kiwi, easing from its previous highs of 1.274, 0.7697 and 0.7215, respectively. The greenback is seen finding support around 1.25 versus the loonie, 0.79 versus the aussie and 0.74 versus the kiwi.

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


Pound Strengthens Ahead Of U.K. Composite PMI (02 min(s), 33 sec(s) ago)
(RTTNews) - At 4.30 am ET Wednesday, UK final composite PMI data is due. The composite index is fo ...Full Story»

Euro Little Changed After Eurozone PMI (26 min(s), 33 sec(s) ago)
(RTTNews) - At 4.00 am ET Wednesday, IHS Markit has released euro area composite PMI survey result ...Full Story»

Euro Mixed Ahead Of PMI Reports (47 min(s), 33 sec(s) ago)
(RTTNews) - At 3.45 am ET Wednesday, Italy's services PMI data is due. Final PMI figures are d ...Full Story»

Franc Little Changed After Swiss CPI (01 hr(s), 56 min(s), 33 sec(s) ago)
(RTTNews) - At 2.30 am ET Wednesday, the Federal Statistical Office has published Swiss consumer p ...Full Story»

Franc Mixed Ahead Of Swiss CPI (02 hr(s), 02 min(s), 33 sec(s) ago)
(RTTNews) - At 2.30 am ET Wednesday, the Federal Statistical Office releases Swiss consumer prices ...Full Story»

Indian Rupee Rises To 5-day High Against U.S. Dollar (03 hr(s), 32 min(s), 32 sec(s) ago)
(RTTNews) - The Indian rupee climbed against the U.S. dollar in morning deals on Wednesday, as reg ...Full Story»

U.S. Dollar Appreciates Amid Worsening Sentiment (51 min(s), 27 sec(s) ago)
(RTTNews) - The U.S. dollar appreciated against its major counterparts in the European session on ...Full Story»

Euro Little Changed After Eurozone CPI (33 min(s), 28 sec(s) ago)
(RTTNews) - At 5.00 am ET Tuesday, Eurostat has published euro area flash consumer price figures. ...Full Story»

Search

FOREX NEWS

Pound Strengthens Ahead Of U.K. Composite PMI

03/03/2021 - 04:29 AM (RTTNews)
(RTTNews) - At 4.30 am ET Wednesday, UK final composite PMI data is due. The composite index is fo ...Full Story>>

Euro Little Changed After Eurozone PMI

03/03/2021 - 04:03 AM (RTTNews)
(RTTNews) - At 4.00 am ET Wednesday, IHS Markit has released euro area composite PMI survey result ...Full Story>>

Euro Mixed Ahead Of PMI Reports

03/03/2021 - 03:42 AM (RTTNews)
(RTTNews) - At 3.45 am ET Wednesday, Italy's services PMI data is due. Final PMI figures are d ...Full Story>>

Franc Little Changed After Swiss CPI

03/03/2021 - 02:35 AM (RTTNews)
(RTTNews) - At 2.30 am ET Wednesday, the Federal Statistical Office has published Swiss consumer p ...Full Story>>

Franc Mixed Ahead Of Swiss CPI

03/03/2021 - 02:28 AM (RTTNews)
(RTTNews) - At 2.30 am ET Wednesday, the Federal Statistical Office releases Swiss consumer prices ...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.