Dollar deepens losses after weak economic data

2021-05-04 10:18:12 GMT (Economies.com)
Dollar deepens losses after weak economic data

The US dollar fell against most of its peers on Monday, as investors avoided safe havens and turned to risky assets, in addition to the release of weak economic data.

 

Apple, Microsoft, Amazon, Tesla and Facebook have reported better-than-expected earnings in the first quarter of 2021.

 

The US Federal Reserve decided last week to keep the interest rate between 0.0% and 0.25% unchanged.

 

Although several countries managed to contain the Covid-19 pandemic, India is still an exception to this, as it is now facing a sharp spike in the infection rate and deaths, while the health system is being overwhelmed.

 

The ISM US manufacturing PMI fell to 60.7 points in April from 64.7 points in March, while analysts forecast a rise to 65.

 

The dollar index fell against a basket of currencies by 0.3% to 90.9 points as of 18:52 GMT, after it hit a high of 91.3 points and a low of 90.8 points.

 
 
 
  Symbol Last Change Chg.%
1.2087
-0.0086
0.7057%
1.4042
-0.0094
0.6685%
Tadawul
10322.68
86.96
0.85%
26.925
-0.879
3.161%
64.629
-0.763
1.167%
67.96
-1.36
1.96%
1817.755
-26.470
1.435%
 
 
Live Forex Updates