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[size=36]Dollar falls as sentiment improves, thanks to trade data from China[/size]
Economy | 09:58 - 04/14/2020
Follow-up - Mawazine News
The dollar fell on Tuesday, and its Australian counterpart led a wave of rising currencies, as trade data from China painted a darker picture of the economic repercussions of the Corona virus, compared to what the markets feared.
China's exports in March fell 6.6 percent year on year, compared to expectations for a 14 percent decline, and imports fell less than 1 percent, compared to estimates by economists, down 9.5 percent.
The daily HIV infection rate in the United States also fell sharply, and states began plans to resume economic activities.
The Australian dollar rose 0.7 percent to 0.6432 US dollars, the New Zealand dollar advanced 0.6 percent to 0.6131 US dollars and the British pound added 0.4 percent to 1.2562 dollars, its strongest level since mid-March.
"The market is at the forefront of the idea that we're going to see how many cases go away," said Chris Weston, head of research at Melbourne Brookbridge Pepperston.
Positive sentiment appeared in gains in Asia's stock markets, but fears held back further currency appreciation.
Gold also rose and the safe-haven currencies of the Japanese yen and the Swiss franc as well, in an indication of latent caution.
The yen held steady at 107.70 to the dollar, dropping slightly from the peak of the two weeks reached on Monday. The euro compensated for overnight losses of $ 1.0939. The Chinese yuan rose 0.1 percent to 7.0428 to the dollar.
Against a basket of currencies, the dollar fell 0.2 percent to 99.195
The dollar fell on Tuesday, and its Australian counterpart led a wave of rising currencies, as trade data from China painted a darker picture of the economic repercussions of the Corona virus, compared to what the markets feared.
China's exports in March fell 6.6 percent year on year, compared to expectations for a 14 percent decline, and imports fell less than 1 percent, compared to estimates by economists, down 9.5 percent.
The daily HIV infection rate in the United States also fell sharply, and states began plans to resume economic activities.
The Australian dollar rose 0.7 percent to 0.6432 US dollars, the New Zealand dollar advanced 0.6 percent to 0.6131 US dollars and the British pound added 0.4 percent to 1.2562 dollars, its strongest level since mid-March.
"The market is at the forefront of the idea that we're going to see how many cases go away," said Chris Weston, head of research at Melbourne Brookbridge Pepperston.
Positive sentiment appeared in gains in Asia's stock markets, but fears held back further currency appreciation.
Gold also rose and the safe-haven currencies of the Japanese yen and the Swiss franc as well, in an indication of latent caution.
The yen held steady at 107.70 to the dollar, dropping slightly from the peak of the two weeks reached on Monday. The euro compensated for overnight losses of $ 1.0939. The Chinese yuan rose 0.1 percent to 7.0428 to the dollar.
Against a basket of currencies, the dollar fell 0.2 percent to 99.195
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