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The Covid-19 epidemic continues to rise, with confirmed cases rising in Europe, the United Kingdom, and the United States, and progress on the vaccine has failed. A wave of safe-haven purchases has opened in the market. The US dollar spiked to a six-week high on Monday (21). It fell. The US presidential elections have made the financial market outlook fraught with uncertainty. This week, the market is paying attention to Fed Chairman Bauer’s speech at the Congressional hearing.
On Monday (21), the US dollar index, which measures the US dollar against six major currencies, rose 0.65% to 93.560. As European stocks fell to a two-week low and US stocks fell, the US dollar index came under pressure in the first hours of trading. The dollar rose against the yen after hitting a six-month low.
The market pays close attention to Fed Chairman Jerome Powell’s attendance at the House of Representatives hearing and testimony on epidemic relief, subsidy measures, and the economic security bill.
The hearing will examine issues such as the labor market and the need for additional fiscal stimulus.On the same day, US Secretary of the Treasury Mnuchin will also attend the Senate Finance Committee hearing and give testimony on relief measures from the epidemic.
On a weekday, the yen settled at 104.56 against the US dollar, after hitting the lowest point of 104.00 since March 12. Erik Bregar, head of foreign exchange strategy in Canada, believes that if the yen falls below the 104 level against the US dollar, the yen will strengthen considerably.
Marshall Gittler, head of research at BDSwiss, said the appreciation of the yen is a typical “safe haven” measure in the currency market, but the Swiss franc has weakened and the euro and Australian dollar have weakened against the US dollar. .
US stocks followed the opening of Asian stocks and European stocks lower on Monday, and the risk of the US re-imposing an economic lockdown increased dramatically. The Justice of the Supreme Court of the United States, Ruth Bader Ginsburg, died of cancer last Friday (18), which made investors more concerned about Congress. If you have the ability to agree on a new round of epidemic stimulus bills.
“Most of the US dollar’s gains today come from safe-haven purchases. Part of the trigger is that people are concerned that the UK will re-lock the lockdown.”
In recent weeks, the number of pneumonia diagnoses in the UK has increased again. On Sunday (20), 3,899 people were recently diagnosed. British Prime Minister Johnson & Johnson will hold a meeting on the epidemic today. The Health Minister revealed that if the public is unwilling to comply with the epidemic prevention regulations, the city will not be ruled out again. Measurements.
The World Health Organization (WHO) warned last week that the cumulative number of confirmed cases of new coronary pneumonia worldwide has exceeded 30 million, and the death toll is close to 1 million. There are still 50,000 deaths from new coronary pneumonia each week. The outlook for the euro is under pressure.
The euro fell 0.56% against the US dollar to 1.1773 US dollars, with support at 1.16. The pound fell 0.73 against the dollar to 1.2814 and the dollar was up 2.2% against the pound, the highest level since mid-July.
The president of the European Central Bank, Christine Lagarde, said on Monday that if the European economy needs more stimulus, the central bank has the flexibility to provide more support.
One major commodity currency weakened this week: the Australian dollar fell 0.89% against the US dollar to 0.7226 US dollars and the New Zealand dollar fell 1.4% against the US dollar to 0.6664 American dollars.
Prices as of Tuesday (22) 5:00 Taiwan time:
The dollar index reached 93,560. + 0.65%
The exchange rate of the euro to the dollar stood at US $ 1.1773 per euro. -0.56%
The pound-to-dollar exchange rate came to US $ 1.2814 per pound. -0.73%
The exchange rate of the Australian dollar to the US dollar was from Aussie 1 to US $ 0.7226. -0.89%
The exchange rate of the US dollar to the Canadian dollar was C $ 1.3308 per US dollar. + 0.79%
The dollar-yen exchange rate reached 104.56 yen per dollar. + 0.11%
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