Greenback Trades Mixed as Global Stocks Plummet

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

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Economic Data Helps US Dollar

US dollar is heading higher today, thanks in large part to the latest data releases. With the economic outlook for the United States continuing to improve, some analysts are still predicting another rate hike in March, while other think that the Fed will rate a little longer. Rate hike hopes are still alive for some analysts. The latest data out of the United States shows that the unemployment rate dropped to 4.9 per cent, the lowest it’s been in eight years. The labor market news is a little mixed, though. Even with the drop in the

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Dollar Struggles as Fed Monetary Tightening in Question

The US dollar gained on the Great Britain pound but retreated versus the euro and the Japanese yen on Monday as traders continue to question the ability of the Federal Reserve to continue its interest rate hike cycle this year. The Fed has raised interest rates in December for the first time in nearly a decade. Some economists were arguing that was not a good decision as the

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