Greenback Which Rallied Once Is Now Constrained By Geopolitical Policies
By Daisy Joseph
The Easter Monday holiday in Europe has resulted in decline in trade volumes. Nearly all the European markets remained closed for the holiday. The US dollar continued to remain soft compared to its normal movement. The US dollar didn’t fair well against its rivals on Monday. The dollar index fell to a 5-month low due to investor disappointment. The economic data of the USA doesn’t support the hopes of the investors for tax reforms and deregulations.
The global indices also declined in the other markets. The Nikkei index lost 0.6%, while the S&P 500 lost 0.15%. The US retail sales data announced on Friday was disappointing. While the expectation was a reduction of 0.1%, the retail sales lost 0.2%, questioning the direction of the US economic growth. The consumer inflation was also disappointing.
The EUR/USD pair was trading at $1.0626, which was a 0.14% increase. The session peak was capped at $1.0641. The GBP/USD pair also gained 0.19%, was it was trading at $1.2543. The session high was $1.2544. The US dollar index lost 0.17%, as it reached 100.34.
The Chinese economy reported a growth f 6.9% in the first quarter on a year-over-year basis. The forecast was just 6.8%. The industrial production jumped up by 7.6% and the retail sales increased to 10.9% from 9.5%. The antipodean currencies gained with the positive economic data from China.
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