Dollar Jumps with frail U.S Economic Data, still-surging COVID-19 Cases

Dollar Jumps with frail U.S Economic Data, still-surging COVID-19 Cases

• The Dollar clenches tightly to the profit at the close of last week
• The U.S. economic data disappointed Investors.

The Dollar seems to have a bit of a high on Monday morning in Asia. The Sadden U.S. economic Data with growing Corona Virus cases rapidly worldwide leads the investor to move towards Safe-Haven assets.

The U.S Dollar Index raised up 0.05% to 90.800 against a basket of other currencies.

The Euro hit a huge setback because of the ongoing Italian political dilemma that is certainly creating havoc in the economic improvement of the nation, Moreover, the increasing cases of COVID-19 have taken it to the end of rope directing the Currency to fall 2% in 2021 and meet a six-week low.

The USD/JPY pair is slightly down 0.10% to 103.77.
The AUD/USD verged down 0.12% to 0.7692 with a one-week low
The NZD/USD verged down 0.13% to 0.7128 with a three-week low.
The USD/CNY pair is slightly up 0.09% to 6.4858.
The GBP/USD pair inched down 0.08% to 1.3575

U.S treasury Yields edged lower as investors are disappointed with weak Economic data a day after the announcement of Federal Reserve would continue its bond-buying till the economic condition comes to a better position. It seems the U.S. currency has been aided by Democrat victories in the Senate Runoff Elections.

The PPI increases 0.3% month on month in December on the other hand retail sales decrease in size to 0.7% month on month in December.

U.S. President-elect Joe Biden will take the administration on 20th January 2021. However, the chaos is expected from the supporter of current position holder Donald trump on the vigilant secured place. Investors are keeping an eagle eye on the $1.9 trillion stimulus measure proposed by Biden.