Dollar extends slide after steep economic downturn in US

2020-07-30 19:02:50 GMT (Economies.com)
Dollar extends slide after steep economic downturn in US

The US dollar fell on Thursday, deepening its losses after the release of weak economic data that showed a sharp downturn in the US during the second quarter.

 

Coronavirus infections are spiking in the US and many countries around the world, which raised fears over the return of the lockdown restrictions again.

 

Today, the US Department of Commerce data revealed that the first reading of GDP recorded a contraction of 32.9% in the second quarter.

 

Data showed today that the US GDP contracted 32.9% during the same period.

 

Additionally, the weekly unemployment claims rose 12,000 to 1.434 million during the past week, compared to forecasts of 1.5 million.

 

The dollar index fell against a basket of currencies by 0.4% to 93.1 points as of 18:12 GMT, after it hit a high of 93.6 and a low of 93.04.

 
 
 
  Symbol Last Change Chg.%
1.1785
0.0075
0.6435%
1.3052
0.0037
0.2828%
Tadawul
7499.97
10.08
0.13%
28.209
3.962
16.340%
41.550
1.115
2.757%
44.64
-0.45
1.00%
2032.160
62.805
3.189%
 
 
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