Dollar Plunges Further As Euro and Pound Rise on Brexit Headway
Login

Dollar Plunges Further As Euro and Pound Rise on Brexit Headway

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

The dollar is trading generally softly today amid strong risky markets. But overall, most major pairs and crosses are limited to last week’s range.

Optimism pushed the dollar down during the first half of the day. Hopes were on the US stimulus package and the post-Brexit trade deal. The dollar rallied temporarily following a decision by the US Federal Reserve, as US policymakers took a wait and see attitude and then resumed their decline as the central bank is clearly showing dove in the long run.

US retail sales fell -1.1% mom to $ 546.5bn. In November, below expectations -0.2% mom. Sales excluding autos fell 0.9% mom, which below expectations of 0.2% mom growth. Sales excluding gasoline fell -0.9% mom. Sales excluding cars and gasoline fell 0.8% mom.

The U.S. Dollar Index (Futures) has experienced one of its worst years since 2017, despite an impressive rally to a 3 and a half year high of 103.79 in March. The U.S. Dollar Index (Futures) has experienced one of its worst years since 2017, despite an impressive rally to a 3 and a half year high of 103.79 in March.
Euro and Pound Rise on Brexit Headway
Sterling and the euro are generally growing today and maintain growth at the beginning of the American session. Progress in Brexit trade negotiations and stronger-than-expected PMIs lift both currencies, as well as their respective stock markets. The Canadian dollar is currently performing the worst, which, most likely, reacted to the stinging remarks of the Bank of Canada. Risk markets keep the dollar under pressure.

Concerning Brexit, reports have shown progress has been made, but no breakthrough has yet occurred, according to German Chancellor Angela Merkel. An EU spokesman said fisheries remain a major obstacle, as reported in the news.

Also, several headlines indicated that the UK had adopted the idea of ​​“managed divergence” to gain access to the single market. This means that if UK standards do not match EU standards, the Union has the right to retaliate. A Brexit trade agreement and US stimulus talks must be agreed upon before markets take a firm short-term direction.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News