https://www.forex-news.com/
Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
Bitcoin
$9,221.04
+0.36
Ethereum
$238.88
-0.15
Litecoin
$44.32
+0.23
DigitalCash
$72.15
+0.84
Monero
$67.86
-0.09
Nxt
$0.01
-0
Ethereum Classic
$6.48
+0.11
Dogecoin
$0.00
0

Forex Market: The dollar appreciates strongly today

5


Panic returned to Wall Street, where its main index, the Dow Jones, sank 6.9% to 25,128. The SP 500 lost 5.89% to 3,002 points, and the Nasdaq slumped 5.27%. The dollar and the Japanese yen were the safe-haven currencies of the Forex session.

, Forex Market: The dollar appreciates strongly today, Forex-News, Forex-News
Dow Jones chart for June 11. Source: Google

As the session on this black Thursday will have been negative, not even gold and bitcoin served as a store of value. The spot ounce of gold closed at $ 1,725, from $ 1,738 on Wednesday. For its part, BTC is trading around US $ 9,350, from US $ 9,900 at the beginning of the day.

The big winner of the session was the greenback, which is trading at 1.1290 against the Euro, after having passed 1.14 on Wednesday, when the FED disclosed that the interest rate remains unchanged at

, Forex Market: The dollar appreciates strongly today, Forex-News, Forex-News

Analysis of the dollar in the Forex Market

The yen rose to a one-month high against the dollar, while the Swiss franc rose to a new three-month high.

For its part, the dollar index advanced strongly in the session, as investors sold currencies associated with risk-taking, such as the euro, the British pound and the Australian dollar, according to the Reuters news agency.

“Animal spirits are not that strong today,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. “An operation is spreading through the markets: taking gains in equities, hitting in emerging markets, reducing profits in these leading currencies and turning to the security of debt markets.”

Demand for safe haven currencies increased after the Fed issued a bleak outlook on Wednesday. After their two-day meeting, the Federal Reserve said it plans years of extraordinary support for the US economy. GDP is projected to fall to 6.5% in 2020, with an unemployment rate of 9.3%.

Prospecting markets

In these turbulent times where everything changes from one day to the next, it is good to see the cold numbers to know what is the “safest” way to invest our money.

Anthony Pompliano, an evangelist for the Bitcoin market, put the returns on the world’s main financial assets into perspective in 2020. The S&P 500 and Nasdaq have a return of 1% and 2% respectively. On the other hand, value reserve assets, such as Gold and Bitcoin, advance 11% and 35%. There is no doubt where they are putting the money that comes out of the bags.

To consider

This Friday, consumer sentiment in the United States will be released at 11:00 AM in New York, which is expected to rise to 75 points, from 72.3 last month. It is undoubtedly a key macro data to end the week, and above all to see how the dollar is positioned in the Forex market.

, Forex Market: The dollar appreciates strongly today, Forex-News, Forex-News





Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More