Currencies: the $ weakens as Covid alarms W-Street : Orishas-finance

Curities: the $ weakens as the Covid alarm W-Street

26/06/2020 | 19:39

While the stress related to Covid (+50,000 new cases on June 26) makes the Dow Jones drop by -2.2%, the reflex to find refuge on the Dollar did not play this Friday: the greenback crumbles by -0.15% against the Euro towards 1.1235, -0.1% against the Swiss Franc.
The most depressed currency was the Pound Sterling with -0.6% against the $ (1.2350) and -0.8% against the Euro (around 0.91).

The Dollar may be suffering from a small disappointment on the side of the figures of the day: US consumer confidence is up to 78 (against 72.3 in May) but the consensus was 79.1 (compared to 102.4 in June 2019).
U.S. household spending recovered 8.2 percent sequentially last month, according to the Commerce Department, leaving less than expected as economists on average expected a rebound a little closer to 9 percent

For their part, household incomes fell by 4.2% in May, while the market consensus expected a decrease of nearly 6%.
In April, U.S. household spending fell 12.6 percent, while U.S. household spending climbed 10.8 percent

Concern is resurfacing on the pandemic side: Covid-19 cases in the United States reached new daily highs yesterday (+45,500 cases) by exceeding april levels and several states are now threatened by the appearance of a second wave of the virus', especially Florida with nearly 9,000 new cases in 24 hours and an increase of +7.5%.
Texas Governor Greg Abbott is suspending the lifting of lockdown measures, sending another bad signal, 48 hours after the states of New Jersey and Connecticut imposed quarantine measures from states affected by a pandemic spike.

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Currencies: the $ weakens as Covid alarms W-Street

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Curities: the $ weakens as the Covid alarm W-Street

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