Home Forex News The U.S. Dollar Starts the Week on the Back foot

The U.S. Dollar Starts the Week on the Back foot

The USD was decreased in Asian markets on Monday, with analysts looking at expected worldwide economic results, and US corporate profits, to determine whether there is any basis for the market’s optimism.

In the early Monday market, the dollar index major currencies declined by 0.2% to 96,452.

Coronavirus reports for the US are surging over the weekend, with more than 15k additional new cases recorded across every state in Florida in 24 hours. It exceeded the highest count of cases in New York, which recorded in April.

Expert’s Views:

Yukio Ishizuki, a senior currency strategist at Daiwa Securities, said that

Daiwa Securities said

Hopes for the production of medicines and disease vaccinations are also promoting risk sentiment, as there are economic measures that have so far demonstrated progress from lockdowns.

Masafumi Yamamoto, the chief currency strategist at Mizuho Securities, said,

Mizuho Securities said

A weekly measure of customer trust in Australia has fallen after an increase in cases in Melbourne. It may happen in the United States, where the severity of the epidemic is far higher, he observed.

Other currency Value:

The U.S. corporate earnings season will begin next week, offering another opportunity to determine the extent of the devastation and rehabilitation from this pandemic.

China will announce its June trade statistics and a bunch of other numbers, including GDP for the second quarte.

  • In early trade, the Chinese yuan stood flat at 7,0068 per dollar.
  • The euro exchanged at $1.1314, sustaining a steady increase since late last month.
Robert Hill
Robert a Crypto writer and an expert in delivering content with both informative and entertaining approaches. He has 4 years of experience working as a crypto writer with our team. You can interact with him by email: robert@forexnews.world.

Must Read

4 Easy Steps to Master the Art of Trading

Newcomers should develop some basic knowledge about the market so that they can be able to take the right step in the right position....

Building Healthy Money Habits in the Trading Profession

Trading has become a global profession in contemporary times. People are becoming more self-conscious about money as the world has fallen due to the...

IOTA Coin – Future and Predictions

Introduction to IOTA Coin IOTA is a dispersed ledger structured to record and implement transactions between machines and devices on the Internet of Things (IoT)...

Super Lottery: NordFX Gives Away 100,000 USD to Traders

The $100,000 Super Lottery was launched by the brokerage company NordFX among its clients on April 1. The name speaks for itself: 100 cash...

Is Zcash Still a Better Option Than Monero and Dash?

Transaction data of most cryptocurrencies like Bitcoin are distributed on a public ledger that anyone can view. It is the rising concern over the...