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Dollar down, retain somehow over excessively fresh cases of COVID-19

Market Analysis
Dollar down, retain somehow over excessively fresh cases of COVID-19

 

  • It is U.S currency that holds all the Aces this time despite being down on Monday.
  • Investors are diverting to Safe-haven Assets.
  • Rising New COVID-19 cases creating menace in the global market.

 

The Dollar was edge down on Monday morning in Asia. Although, the U.S. currency hold on to the grip against riskier currencies on Monday because of the fragile economic data from Europe and the global coronavirus pandemic still demanding across the world in returns investors are moving towards Safe-haven assets.

The U.S. Dollar Index inched down 0.10% to 90.118 against a basket of other currencies.

The USD/JPY pair slightly down 0.2% to 103.75

The AUD/USD pair was up 0.29% to 0.7738

NZD/USD pair obtained 0.32% to 0.7207, with one case of new COVID-19 is found in New Zealand.

The USD/CNY pair inched down 0.2% to 103.75.

The GBP/USD pair was slightly up by 0.17% to 1.3708. Retail sales extended by 0.3% month-on-month in December mentioned in new data. U.K. Prime Minister Boris Johnson also mentioned that the new variant of COVID-19 is more contagious and deadly causing an unlimited rise in the number of cases, due to this lockdown would extend in the United Kingdom.

The data was released on Friday stipulate that the European Union Economy is reduced in January. The manufacturing and service purchasing managers indexes came in at 54.7 and 45 respectively. and the Markit Composite purchasing managers index came in at 47.5.

In the majority of Europe, the euro is in a positive state because of the developing political mayhem in Italy. The Italian security yields rise and spread over German Bunds climbed the most elevated level since November.