Evergreen buck becomes cheaper than common currency

Evergreen buck becomes cheaper than common currency

On Monday, the evergreen buck dived versus the common currency after Friday’s rally on firm data on the American labor market.

On Friday, the greenback US currency rose by 0.3% against the common currency after the publication of statistics that drove hopes for further interest rate lifts by the Fed.

The data on the American labor market turned out to be firm. Apparently, it’s the best scenario for the key US bank because the report confirmed that the American economy is moving in the proper direction, as some market experts pointed out. The Fed is currently preparing the ground for another rate lift at its gathering that will be held in two weeks.

However, market experts stress that American trade disputes with other countries pressured the evergreen buck.

Last Saturday, the ministers of finance as well as the heads of the major financial institutions of the six G7 countries condemned the US actions to impose tariffs on aluminum and steel, pointing to their quite unilateral nature.

William Francis Morneau, Canadian Finance Minister, following a meeting in Canadian Whistler told that the US fresh actions threatened the values ​​that united the both countries for a long time.  He added that the American fees fail to correspond to the rules the rest of the world adheres to.

Market participants find it difficult to actively purchase US dollars before the G7 summit because of the position voiced by the chiefs of financial departments of these nations as for American protectionist policy.  

The ICE index, gauging the dynamics of the American currency versus the six key rivals, headed south about 0.2%.

The common currency went up to $1,1684 in contrast with $1,1659 at the close of the previous trading session.

Against the Japanese yen the greenback dive to 109.66 versus Friday’s reading of 109.54.

 

Similar

Will the CPI Crash the USD?
Will the CPI Crash the USD?

 The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!

Latest news

Bearish Signal For The USD
Bearish Signal For The USD

XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!

News for The Week
News for The Week

US stock markets started falling, while the US dollar is rising. What to expect from

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera