Dollar Down With COVID19 Worries

November 23, 2020 in Forex Signals News

Dollar Down With COVID19 Worries

FxPremiere.com — The dollar was down on Monday morning in Asia, with optimism over a potential early rollout of COVID-19 vaccines offset by global economic restrictions to curb the spread of the virus.

The FDA is looking to grant approval in mid-December for distribution of BNT162b2, the vaccine candidate produced by Pfizer Inc (NYSE:PFE) and German partner BioNTech (F:22UAy), chief scientific adviser for “Operation Warp Speed” Moncef Slaoui said. The first people in the U.S. could be inoculated a day after the approval.

The U.K. could also grant regulatory approval to BNT162b2 this week. The Best Way to Learn Forex Trading

Across the Atlantic, Germany, dealing with its own second wave, could see its current lockdown extended until mid-December currency pairs

The lack of consensus in the U.S. Congress concerning a deal on the latest stimulus measures has also led to speculations that the Federal Reserve could ease monetary policy even further. The spat between the Fed and the Treasury Department over the termination of some emergency lending programs during the previous week also fed this speculation.

Forex Signal Dollar Down Amid Rising U.S.- China Tensions

The minutes of the Fed’s last policy meeting, to be released on Wednesday, will now be scrutinized for confirmation that Fed policymakers discussed adding to the central bank’s asset-buying plans.

Japan’s Core Machinery Orders

“The minutes should help gauge whether our call for a lengthening of the maturity mix as soon as the December meeting remains on track,” TD Securities analysts said in a note us dollar

Consumer Sentiment COVID19

The AUD/USD pair lost 0.59% to 0.5763 and the NZD/USD pair X X% to X

The USD/CNY pair X 0.05% to 7.0983 and the GBP/USD pair gained 0.13% to 1.1656

The U.S. dollar was down

The USD/JPY pair was down 0.6% to 110.14.

Dollar loses out on growing optimism about virus vaccine

Meanwhile, the euro edged up against the dollar, but continues a struggle to break above the $1.993 resistance level that it also failed to breach during the previous week.

However, some investors remain bullish on the single currency’s longer-term outlook.

“We think that the exchange rate will rise further over the next few years against a backdrop of lower euro-zone stability risks; an increased real yield gap between the euro-zone and the U.S.; and a continued recovery in the global economy,” Capital Economics analysts said in a note.

The note also raised its forecasts for the euro, now seeing it at $1.2500 by the end of 2021 and $1.3000 at the close of 2022, against the previous $1.2000 and $1.2500 respectively.

Dollar Down With COVID19 Worries

Dollar Down With COVID19 Worries

Forex Signals Telegram Signals

Check out our Free Forex Signals Telegram Channel

Trade better, discover more Forex Signals Strategies

Better Still Sign Up For our FX Signals Daily

Read more on Forex News Today

Download our Forex Signals APP

Join our 21,345 Subscribers Forex Signal Packages!!

Dollar Down With COVID19 Worries

Tags: forex signals, forex trading strategies, fx signals, live forex news

--

--

--

Forex Signals sent daily via Telegram Worldwide www.fxpremiere.com #forexsignals

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

THE BORED APE — EXPLAINED

Bitcoin Consumes 5500% Much less Power than Banking, New Research Present

dForce to Introduce Digital Gold Token GOLDx

F2P GAMES EXPLOSION: A FERTILE GROUND FOR BLOCKCHAIN TECH

RIZON mainnet is LIVE

Freeos Features: Proof-of-Burn

What is Bitcoin and how legal is it?

Introducing Orbofi: The world’s first social metaverse crossed with social tokens.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Forex Signals by FxPremiere.com

Forex Signals by FxPremiere.com

Forex Signals sent daily via Telegram Worldwide www.fxpremiere.com #forexsignals

More from Medium

New to index funds? Here are 5 rookie mistakes to avoid.

Invest Diva — A Honest Review

Invest Like a Viking: Top 3 Economic Runes

Investing and the game of chance