Dollar turns lower as investors shift to stocks

2021-10-27 18:18:42 GMT (Economies.com)
Dollar turns lower as investors shift to stocks

The US dollar fell against most of its peers on Wednesday, after holding earlier in the session, as investors focused on stocks and other risky assets, amid focus on corporate earnings results.

 

Alphabet, the parent company of the search engine Google and Microsoft reported yesterday strong profits and revenues in the third quarter, thanks to the cloud services and online advertising.

 

This came after Facebook, Tesla and Netflix also reported profits and revenues that topped analysts' expectations.

 

Data showed that the US durable goods orders index fell 0.4% in September, better than forecasts of a drop by 1.1%, and the core reading rose 0.4% in September, on par with forecasts.

 

The US goods trade balance recorded a deficit of $96.3 billion last month, more than forecasts of $88.2 billion.

 

The dollar index fell against a basket of major currencies 0.2% to 93.7 points as of 18:00 GMT, after hitting a high of 94.01 points and a low of 93.7 points.

 
 
 
  Symbol Last Change Chg.%
1.1327
0.0057
0.5062%
1.3328
0.0018
0.1349%
Tadawul
10810.60
-60.02
0.55%
22.846
-0.199
0.864%
67.587
-4.814
6.649%
71.61
-1.83
2.49%
1794.670
9.580
0.537%
 
 
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