Tag: dollar

Fundamental and technical agreement on a rising US dollar

  • USD/CAD gains 1.4% on the week, highest close since August 3
  • Pandemic down channel from March broken with Monday surge
  • USD/CAD participates in general US dollar recovery in the major pairs
  • FXStreet Forecast Poll predicts consolidation not strong gains in USC/CAD

The US dollar returned to the offensive this week with a successful assault on the six-month old descending channel that began in the COVID-19 panic in March.

 Monday’s open at 1.3204 coincided with the upper border of the channel and after a brief dip to 1.3171 the pair moved to and through the limit, paused at 1.3240 and then continued straight to 1.3300 and the Monday close at 1.3307.  After Tuesday’s consolidation and close at 1.3304 the efforts in the three final sessions were almost identical with closes of 1.3387 on Wednesday and 1.3362 on Thursday.  Friday’s end at 1.3388 brought the USD/CAD to its highest conclusion since August

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Cheap dollar won’t revive NYC real estate market anytime soon

A weaker U.S. dollar likely won’t give Manhattan real estate its usual boost after the New York borough emerges from its COVID-19 lockdowns.

This means wealthy foreign buyers, who typically scoop up luxury Big Apple properties at a favorable rate, won’t be in the game this time around.

“New York has been one of the most challenged real estate markets, certainly in the country, if not the world,” Scott Crowe, chief investment strategist at CenterSquare Investment Management, an $11 billion real estate asset manager based in Plymouth, Penn tells FOX Business.

NYC BRICK-AND-MORTAR RETAIL IS DEAD: DON PEEBLES

Prices for residential and commercial listings in Manhattan, New York City’s most densely populated borough, have plunged about 10%, on average, since the outbreak of COVID-19 as New Yorkers have fled in droves amid a wave of crime that

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Dow Futures Edge Higher, Dollar Gains As US Markets Steady

The Thursday Market Minute

  • Global stocks slide following last night’s sell-off on Wall Street as investors continue to focus on the economic impact of a coronavirus resurgence and the potential for U.S. electoral chaos.
  • President Donald Trump refuses to commit to a peaceful transition of power during a question-and-answer with reporters, suggesting election night controversies that could hammer stocks and disrupt world markets.
  • The U.S. dollar climbs to a near two-month high against its global peers as cautious traders position themselves into the final weeks before the November vote.
  • Oil prices slip lower after a bigger-than-expected drawdown in U.S. crude and data showing fuel demand is down nearly 10% from last year.
  • U.S. equity futures suggest a mixed open on Wall Street ahead of weekly jobless claims at 8:00 am Eastern time and Fed Chairman Jerome Powell’s third day of Congressional testimony, this time to the Senate Banking Committee, at
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Dollar set for weekly loss as economic confidence sags

By Eimi Yamamitsu

TOKYO, Sept 18 (Reuters)The dollar held tight ranges on Friday but was set for a weekly loss against major counterparts after downbeat data cast a shadow over the economic outlook, while positive comments from New Zealand’s finance minister helped prop up the kiwi.

The dollar =USD gave up gains made after the Federal Reserve upgraded its 2020 economic forecast this week to trade in negative territory on Thursday. It was last quoted at 92.923 against a basket of major currencies, on track for a 0.3% weekly loss.

U.S. data on Thursday showed jobless claims remained elevated at 860,000, while housing starts and the Philadelphia Fed business index fell.

The Fed said on Wednesday it expected the U.S. economy to shrink by far less than previously forecast in 2020 and promised to keep rates ultra-low for a prolonged period.

The dollar was little changed against

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Canadian dollar climbs to near one-week high on dovish Fed

FILE PHOTO: A Canadian dollar coin, commonly known as the “Loonie”, is pictured in this illustration picture taken in Toronto January 23, 2015. REUTERS/Mark Blinch

TORONTO (Reuters) – The Canadian dollar rose to its strongest level in nearly one week against the greenback on Wednesday, before giving up some of its gains, bolstered by higher oil prices and the Federal Reserve’s promise to keep interest rates pinned near zero.

The Fed released new economic projections which showed interest rates on hold through at least 2023, with inflation never breaching 2% over that time.

“The message is dovish, dovish, dovish,” said Michael Goshko, corporate risk manager at Western Union Business Solutions. “The Fed’s emphasis on U.S. interest rates being low for longer … might just give the green light to Canadian dollar bulls.”

The price of oil, one of Canada’s major exports, jumped following a drawdown in U.S. crude and gasoline

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PRECIOUS-Gold eases on firmer dollar; focus shifts to central banks

* Japan’s economy shrank more than initially estimated in Q2

* Gold poised to break support at $1,923/oz – technicals

* Investors focus on ECB policy decision on Thursday

* Interactive graphic tracking global spread of coronavirus: open tmsnrt.rs/3aIRuz7 in an external browser (Recasts, adds comments, updates prices)

By Brijesh Patel

Sept 8 (Reuters) – Gold slipped on Tuesday due to a stronger dollar, although losses were limited by doubts over a global economic recovery and as investors awaited policy strategies from central banks in North America and Europe.

Spot gold fell 0.2% to $1,925.38 per ounce by 0510 GMT. U.S. gold futures slipped 0.1% to $1,931.70.

The dollar rose against its rivals, making gold more expensive for holders of other currencies.

“There is a bit of downside risk for USD denominated gold prices heading into this week’s central bank meetings,” said IG Markets analyst Kyle Rodda.

“If it’s perceived

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Gold eases on firmer dollar; recovery worries limit losses

An Argor-Heraeus SA stamp sits on a 250 gram gold bar in Budapest, Hungary, on  March 10, 2016.

Akos Stiller | Bloomberg | Getty Images

Gold prices slipped on Tuesday, weighed down by a stronger U.S. dollar, but the safe-haven metal’s decline was limited by growing fears over the global economic recovery from the coronavirus crisis.

Spot gold was down 0.2% at $1,925.09 per ounce by 0320 GMT. U.S. gold futures fell 0.2% to $1,931.20.

“Over the past 24 hours we have seen a stronger U.S. dollar that is something that has weighed a little bit on gold,” said DailyFx currency strategist Ilya Spivak.

“The $1,900 level in very important for gold right now here.”

The dollar index rose against its rivals, making gold more expensive for holders of other currencies.

Hopes around swift economic recovery faded after data showed that Japan’s economy shrank more than initially estimated in the

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