Breaking News
LAST CHANCE for Cyber Monday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Dollar Down Over Persistent Global Economic Recovery Doubts

ForexAug 14, 2020 12:28AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Gina Lee

Investing.com – The dollar was down on Friday morning, giving up some earlier gains as doubts persist over the global economic recovery from COVID-19.

Investor sentiment was dampened by disappointing Chinese data released earlier in the day that indicated continuous but slower recovery in industrial production, as well as a bigger-than-expected drop in retail sales.

The data said that July’s industrial production rose 4.8% year-on-year but missed the 5.1% increase in forecasts prepared by Investing.com. Meanwhile, retail sales fell 1.1% in the same month, against the forecasted 0.1%. The unemployment rate remained unchanged at 5.7%.

Investors will also be looking at the outcome of Saturday’s online meeting between U.S. and Chinese officials to discuss trade alongside other issues.

The USD/CNY pair was up 0.04% to 6.9468 by 12:15 AM ET (5:15 AM GMT), and the U.S. Dollar Index that tracks the greenback against a basket of other currencies slipped 0.08% to 93.243.

The U.S. said on Thursday that the number of unemployment claims over the past week dipped below the one million mark for the first time since the COVID-19 outbreak. But the news was overshadowed by the grim reality that more than 30 million Americans are out of work, as well as the suspension of negotiations over the latest U.S. stimulus measures as the Senate wrapped up its session on Thursday.

The USD/JPY pair was flat at 106.92. The yen recently saw its biggest losses against the dollar as higher U.S. yields attracted Japanese investors.

The AUD/USD pair inched down 0.01% to 0.7147. The NZD/USD pair was down 0.21% to 0.6531, with New Zealand Prime Minister Jacinda Ardern due to announce whether the country will extend or ease Auckland’s re-imposed lockdown measures later in the day.

“Risk sentiment is slowing down... it’s too early to say the whole (dollar) downtrend is over...but it’s got potential and at the very least it’s putting a cap on the AUD and NZD,” Westpac FX analyst Imre Speizer told Reuters.

The GBP/USD pair was down 0.03% to 1.3060.

Dollar Down Over Persistent Global Economic Recovery Doubts
 

Related Articles

Dollar Rebounds; Traders Reassess Omicron Risks
Dollar Rebounds; Traders Reassess Omicron Risks By Investing.com - Nov 29, 2021 1

By Peter Nurse Investing.com - The dollar traded higher Monday, boosted by higher U.S. Treasury yields as traders considered Friday’s sharp moves on the discovery of the omicron...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email