Greenback starts trading week on back foot

Greenback starts trading week on back foot

On Monday, the major American currency started the trading week on the back foot because some lackluster US data along with comments from Fed officials gave traders few catalysts to build on their greenback exposure.

The dollar index, estimating the greenback against a basket of six main counterparts, was almost intact, sticking to 100.390. The previous week it hit a minimum of 98.858, its weakest outcome since November 11.

Financial analysts stress that the previous week the greenback gained some support from month-end buying and came off its minimums, though overall its heaviness is still intact.

This week, market participants are awaiting Friday's non-farm payrolls report, while a worse-than-expected outcome would push the greenback down more than a better-than-expected result would push it up.

The common currency gained 0.2%, reaching $1.0676, while staying not far above Friday's minimum of $1.0649, its weakest value since March 15.

 

Similar

British pound dives to day’s minimums on UK inflation data

On Tuesday, the British pound went down to the day’s minimums versus the evergreen buck due to slowing inflation in December, which slowed for the first time for six months, hinting that the country’s cost of living squeeze relieved…

Aussie and Kiwi are at 4-month peaks vs. weaker US dollar

On Monday, the Australian and New Zealand dollars were keeping to four-month maximums versus their American rival because the broadly stronger common currency kept weighing heavily on the US currency notwithstanding Friday's mostly positive American data…

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

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