FOREX

FOREX – Dollar Retreats as Risk Sentiment Rises Among Investors – Yahoo Finance


By Gina Lee

Investing.com – The U.S. dollar was down on Friday from its week-long high in the previous session as investors’ risk appetite got a boost.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies slipped 0.25% to 99.862 by 11:34 PM ET (4:34 AM GMT), slipping below the 100 mark.

Investors retreated from the dollar, traditionally viewed as a safe haven, as U.S. President Donald Trump hinted at the reopening of the U.S. economy overnight as he briefed U.S. governors on guidelines.

Risk sentiment also received a boost from Gilead Sciences Inc (NASDAQ:GILD) announcing overnight that clinical trials of its antiviral drug remdesivir showed promising results in treating the COVID-19 virus.

The USD/JPY pair was down 0.22% to 107.71.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The USD/CNY&nbsp;pair&nbsp;gained 0.05%&nbsp;to&nbsp;7.0816, gaining back its earlier losses&nbsp;as&nbsp;China reported&nbsp;a 6.8% contraction year-on-year in&nbsp;its gross domestic product&nbsp; in the first quarter.&nbsp;Analyst&nbsp;forecasts&nbsp;prepared by Investing.com predicted&nbsp;a&nbsp;6.5%&nbsp;contraction.&nbsp;Chinese industrial production in March also&nbsp;fell 1.1% year-on-year,&nbsp;less than the&nbsp;predicted 7.3%.” data-reactid=”18″>The USD/CNY pair gained 0.05% to 7.0816, gaining back its earlier losses as China reported a 6.8% contraction year-on-year in its gross domestic product  in the first quarter. Analyst forecasts prepared by Investing.com predicted a 6.5% contraction. Chinese industrial production in March also fell 1.1% year-on-year, less than the predicted 7.3%.

The AUD/USD pair gained 0.48% to 0.6359 and the NZD/USD pair gained 0.69% to 0.6010 with the improved risk sentiment. The Antipodean currencies are closely linked to commodities, and therefore sensitive to risk sentiment.

The GBP/USD pair gained 0.38% to 1.2502. 

Related Articles

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Dollar slips as hopes for virus treatment prop up risk appetite” data-reactid=”22″>Dollar slips as hopes for virus treatment prop up risk appetite

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Japan Scrambles to Give $926 to Everyone in Nationwide Emergency” data-reactid=”23″>Japan Scrambles to Give $926 to Everyone in Nationwide Emergency

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="China’s Markets Are Hardly Shaking Before Economic Data Release” data-reactid=”24″>China’s Markets Are Hardly Shaking Before Economic Data Release

Let’s block ads! (Why?)


Scalping Strategy Course (DVD + Online) - $299.00

In the much anticipated Forex Scalping Strategy Course, Vic and Sarid show you short-term focused techniques and strategies to make quicker profits while reducing market exposure.




Forexmentor Coach's Corner First Month (Online) - $149.00

The Coach's Corner offers 2 live sessions per week, an integrated approach to trading, FREE access to the VicTrade video course and Darko's Pattern Trading Video Lessons.



Source link

Have your say