Dollar Down, Feels Pressure – Signals via Telegram / The dollar was down on Friday morning in Asia, as positive U.S. economic data, and an improving outlook for the economic recovery from COVID-19, exerted pressure on the U.S. currency.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down 0.09% to 90.858 by 12:40 PM ET (4:40 AM GMT).

The USD/JPY pair inched down 0.01% to 109.06, with Japan’s April’s services Purchasing Managers Index (PMI) coming in at a better-than-expected 49.5.

The AUD/USD pair inched down 0.04% to 0.7775 and the NZD/USD pair inched down 0.03% to 0.7230.

The USD/CNY pair inched down 0.01% to 6.4592, with the yuan near a two-month high. China also released positive data earlier in the day, with the Caixin Services PMI for April at a better-than-expected 56.3. April’s trade data was also better than expected, with exports growing 32.3% year-on-year, imports growing 43.1% year-on-year and the trade balance at $42.86 billion.

Dollar Faces Weekly Drop Again

The GBP/USD pair edged up 0.17% to 1.3908. The U.K.’s Bank of England (BOE) kept its interest rate unchanged at 0.10% as it handed down its policy decision on Thursday. Although the central bank also slowed the pace of its trillion-dollar bond-purchasing program, the slowdown was widely expected and is not an indication that BOE will reverse stimulus measures.

However, uncertainties over the results of a Scottish election that could trigger a fresh independence capped gains for the pound.

Pound Under Pressure U.K. Services Worst Month

In the U.S., the number of initial jobless claims fell to 498,000, the lowest since mid-March 2020 when COVID-19 was declared a pandemic. Investors now await April’s employment report, including non-farm payrolls, later in the day.

Jump in Yields Pressure Aussie

With the forecast likely to affirm the U.S.’ solid path towards recovery, runaway inflation concerns are also mounting. However, most U.S. Federal Reserve officials, Chairman Jerome Powell included, have maintained a dovish monetary policy so far and are expected to keep doing so.

The Best Way to Learn Forex Trading

A possible answer is the Canadian dollar, which gained almost 1% during the previous session to a three-and-a-half-year high.

On the cryptocurrency front, ether hit a fresh record high of $3,610.04 and was last trading at $3,473.51. Bitcoin fetched $56,541, still within the $53,000 to $59,000 range that it has been stuck in during the past week.

Forex Signals – Dollar Up Over Positive U.S. Economic Data

Dollar Down, Feels Pressure

Subscribe to our Signals and start receiving Forex Day Trading Signals from the very next trade! Forex Signals Learning Guides below with guide you with every trade you make! FxPremiere Group has helped over 5,000 Forex Affiliates earn up to $800 CPA on referrals and has grown immense revenue streams for online affiliates. Trading Forex has never been easy. The World of Forex Trading is growing day by day and its crucial to keep up to date with trends and market analysis. Here at FxPremiere Group we keep you updated with the Compare Forex Brokers charting system, as well as sending you Direct Forex Signals by our Telegram Services globally daily.

FX Signals

The most traded pairs of currencies in the world are called the Majors.EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF, NZD/USD and USD/CAD, Gold, Oil and many many more… Forex Trading comes with it high risk. We help by referring only the very best forex brokers available in the marketplace. Your in safe hands with our partners.Forex Signals Telegram SignalsWith our free forex learning guides you will be able to educate yourselves with the most up to date forex basics required in order to enter the Capital Markets. Learning centre is now available for all to read. With blog posts written monthly on the most common searched terms.

Dollar Down, Feels Pressure