Dollar strengthens over coronavirus concerns

New York money market: Dollar strengthens over coronavirus concerns

The US dollar appreciates against all major currencies. In a trade at the New York Exchange last night (Oct. 28) as investors flock to the dollar as a safe haven. Amid concerns about the coronavirus outbreak in the US and Europe , including uncertainty about the issuance Stimulus dollar index , a measure of the movement of the dollar versus six major currencies, currencies in the basket of currencies rose 0.50% to 93.4036 level.

The US dollar was stronger against the Swiss franc at 0.9100 franc from 0.9076 francs and strengthened against the Canadian dollar 1.3296 from Canadian dollar 1.3165. But compared to the yen The dollar fell to 104.33 yen from 104.48 yen.

The euro fell against the dollar at $ 1.1752 from $ 1.1810, while the pound fell to $ 1.2991 from $ 1.3055, and the Australian dollar fell to $ 0.7059 from $ 0.7132.

Investors are buying dollars as a safe haven. Amid concerns about the economic impact of the COVID-19 outbreak By the situation in the United States. The latest Worldometer data shows that the United States currently has 9,039,170 COVID-19 cases and 232,101 deaths, the world’s highest number of cases in terms of both the number of COVID-19 and the deaths.

The German and French governments have announced that they have raised the bar to prevent the spread of COVID-19. After finding that the death rate from COVID-19 Across Europe rose nearly 40% in a week, with the World Health Organization (WHO) saying the number of people infected with COVID-19 There were more than 1.3 million new European cases in the past seven days, accounting for nearly half of the 2.9 million worldwide. And more than 11,700 deaths, a 37% increase from the previous week.

Investors are also concerned about delays in the new round of stimulus in the US. Recently, President Donald Trump has admitted himself. The United States may not be able to release stimulus measures ahead of the Nov. 3 presidential election, as the White House failed to coordinate differing opinions with Republicans in the Senate. And Democrats in Congress

Investors keep an eye on the US economic data released this week, including weekly jobless claims, Q3 / 2020 gross domestic product (GDP) (preliminary estimates), pending home sales contracts. (pending home sales) September, the September personal consumption price index (PCE) and the October consumer confidence index.