Test Footer 2

Greenback Trades Mixed as Global Stocks Plummet

1:17 AM
Global stocks are once again plummeting. The dollar is trading mixed, however, as many traders await economic data to determine whether or not recent dollar strength remains relevant. Stocks around the world are heading lower and there is a great deal of volatility in the markets. Safe haven demand is helping the greenback to some degree, but the currency is trading mixed. The dollar, while a traditional safe haven, is a little lower against the euro, which is finding strength in the fact that the ECB hasn’t implemented any dramatic measures, and the eurozone economy seems to be doing a little better than expected. Also causing some
hesitation for Forex traders is the fact that there are some major data releases coming later this week. Many are waiting to see what the US economy will look like, and whether or not the Federal Reserve will have reason to keep hiking rates. The pacing of future rate hikes is a big deal to many. At 15:42 GMT, the US dollar index is heading lower, moving down to 98.879 from the open at 99.000. EUR/USD is higher, gaining to 1.0935 from the open at 1.0895. GBP/USD is lower, dropping to 1.4407 from the open at 1.4443. USD/JPY is down to 120.3550 from the open at 121.0040. If you have any questions, comments or opinions regarding the US Dollar, feel free to post them using the commentary form below.
http://www.earnforex.com/news/2016/02/02/greenback-trades-mixed-as-global-stocks-plummet/

hom

Author:

Facebook Comment

Subscribe to: Post Comments (Atom)