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 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

Coinbase App vs. Coinbase Wallet App – A Comparative Study

Coinbase is one of the leading cryptocurrency exchanges globally and is a decentralized exchange platform for Bitcoin and various other top cryptocurrencies. Some has...

Litecoin Mining: Know About How to Guide

Introduction: How to mine Litecoin Litecoin (LTC) is one of the earliest digital currencies designed by former Google engineer Charlie Lee in October 2011. Litecoin...

Understanding Crypto Trading: A Guide for Newbies

With 24 hours trading volumes that average around $50 billion or even more and cross over $100 billion, the cryptocurrency market has grown significantly...

Views of Chamath Palihapitiya on Bitcoin

A lot of factors drive the world of cryptocurrency and blockchain technology, and one of the most sophisticated factors that we are going to...

Everything You Need to Know About Forex Scams

Foreign trading or forex trading is the trading of different foreign currencies listed in a pair known as forex pairs. The parties involved in...