Dollar solid, euro suffers on growing concerns about Europe’s COVID
TOKYO (Reuters) – FX SIGNALS _ The safe-haven U.S. dollar traded close to a 16-month high to the euro on Monday on growing anxiety over the impact of surging COVID-19 infections in Europe, with Austria reimposing a full lockdown and Germany considering following suit. Dollar solid euro suffers on growing
The dollar got additional support from bullish comments by Federal Reserve officials Richard Clarida and Christopher Waller on Friday who suggested a faster pace of stimulus tapering may be appropriate amid a quickening recovery and heated inflation. Dollar solid euro suffers on growing
Telegram FX Signals
A more rapid end to tapering raises the possibility of earlier interest rate increases too. Currently the market is priced for the Federal Open Market Committee (FOMC) to start hiking rates by the middle of next year.
The dollar index, which gauges the currency against six major peers, traded little changed at 96.148, staying within sight of last week’s 16-month high of 96.266.
The euro slumped 0.25% to $1.12705 — the 16-month low hit on Friday.
“EURUSD has been in free-fall and will likely get the lion’s share of attention from clients looking for a play on growing restrictions and tensions across Europe,” Chris Weston, head of research at brokerage Pepperstone in Melbourne, wrote in a note to clients.
“For momentum, trend followers and tactical traders, short EUR remains attractive here.”
Europe has again become the epicentre of the pandemic, accounting for half of global cases and deaths.
A fourth wave of infections has plunged Germany, Europe’s largest economy, into a national emergency, Health Minister Jens Spahn said, warning that vaccinations alone will not cut case numbers.
Austria becomes the first country in western Europe to reimpose a full COVID-19 lockdown from Monday.
Worries that a slowdown in Europe could hit energy demand dented crude oil, which was also in retreat over the prospect of a U.S.-led release of emergency stockpiles.
The dollar added 0.10% against the oil-linked Canadian loonie to C$1.2640, closing in on Friday’s high at C$1.2663, the strongest level since Oct. 1. Dollar Gains as Growth Concerns
The Aussie gained 0.22% to $0.72525, supported by a rise in iron ore prices, after earlier dipping to $0.72275 for the first time since Oct. 6. Dollar Edges Higher as Rising Covid
Meanwhile, “USD can extend its recent rally this week and set a fresh 2021 high,” he said. “Another round of strong U.S. inflation can further propel market pricing of FOMC rate hikes and the USD.”
“Governor Brainard is more dovish and her nomination could prompt some kneejerk USD selling,” Westpac strategists wrote in a note. Dollar Edges Higher Overall
Forex Signals Learning Guides, to help you get started with trading. Grow your Learning knowledge on the capital markets. URL FxPremiere.com was Founded in 2010. Daily Trading Alerts are sent by our VPS Networks worldwide via Telegram. 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! Dollar Edges Higher Overall
- The fundamental forex strategies
- The technical forex strategies
- The popular forex strategies
- In the forex strategies articles
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. Dollar hits 9-month high
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.With 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. FxPremiere.com Learning centre is now available for all to read. With blog posts written monthly on the most common searched terms. China’s Biggest Fears Are Giving Dollar All the Support It Needs