TOKYO- The euro declined and on track towards three-year low against the dollar. Such inactivity was recorded ahead of the highly anticipated German poll to be released on Tuesday. The said survey is expected to reveal large setback in investor sentiment and trigger pessimism on European economic forecast.
Financial markets resorted to tight ranges after the United States celebrated a holiday on Monday. In line with this, investors observed European headlines all while waiting for coronavirus crisis developments.
The euro sunk down with 0.12% loss and was last quoted at $1.0827 in Asian trading board.
Overall market sentiment for euro remained frail throughout the whole February after manufacturing and gross domestic product statistics indicated that the European zone is more susceptible to external risks than previously assessed.
“The euro is close to testing an important support level at $1.08 due to the diverging economic outlook between the euro zone and the United States,” said Junichi Ishikawa of IG Securities.
The Australian dollar fell under 67 cent mark after the release of central bank’s document reconsidering the policy easing. Chinese yuan was dragged by concerns about the implications of the coronavirus to the economy.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...