U.S. Markets close in 5 hrs 44 mins
  • S&P 500

    4,122.38
    -6.42 (-0.16%)
     
  • Dow 30

    33,716.93
    -83.67 (-0.25%)
     
  • Nasdaq

    13,837.98
    -62.21 (-0.45%)
     
  • Russell 2000

    2,224.87
    -18.61 (-0.83%)
     
  • Crude Oil

    60.48
    +1.16 (+1.96%)
     
  • Gold

    1,732.30
    -12.50 (-0.72%)
     
  • Silver

    24.83
    -0.50 (-1.97%)
     
  • EUR/USD

    1.1915
    +0.0010 (+0.0834%)
     
  • 10-Yr Bond

    1.6750
    +0.0090 (+0.54%)
     
  • Vix

    17.60
    +0.91 (+5.45%)
     
  • GBP/USD

    1.3744
    +0.0039 (+0.2831%)
     
  • USD/JPY

    109.3710
    -0.2790 (-0.2544%)
     
  • BTC-USD

    60,239.95
    +598.60 (+1.00%)
     
  • CMC Crypto 200

    1,287.44
    -7.14 (-0.55%)
     
  • FTSE 100

    6,905.54
    -10.21 (-0.15%)
     
  • Nikkei 225

    29,538.73
    -229.33 (-0.77%)
     

FOREX – Dollar Rises as Investors Seek Shelter Amid Grim U.S. Numbers

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

By Gina Lee

Investing.com – The U.S. dollar was up in Asia on Thursday morning as investors flocked to the greenback amid grim data released by U.S. overnight.

The US Dollar Index that tracks the greenback against a basket of other currencies slipped 0.46% to 99.94 by 11:39 AM ET (4:39 AM GMT).

The data revealed the extent of the damage unleashed by the COVID-19-induced lockdown as retail sales for March dropped a record 8.7%. The country expects another 5.1 million Americans to file for unemployment as initial jobless claims data is released later in the day.

“Given the scale and breadth of the U.S. shutdown, our best guess is the economy contracts by around 13% peak-to-trough before we start to see a rolling process of re-opening in the United States from mid-May,” James Knightley, Chief international economist at ING, told CNBC.

“This will involve some ongoing form of social distancing meaning that a return to ‘business as usual’ could take many months — we don’t expect the lost output to be fully recovered until mid-2022.”

The USD/JPY pair gained 0.44% to 107.94.

The AUD/USD pair dropped 0.51% to 0.6286 despite Australia’s statistics bureau announced an unemployment rate of 5.2%, better than the predicted 5.5%.

But the bureau warned that the rate was calculated before lockdown measures came into effect.

Across the Tasman sea, the NZD/JPY pair lost 0.53% to 0.5957.

The USD/CNY pair gained 0.22% to 7.0817 whilst the GBP/USD pair slid 0.30% to 1.2477.

Related Articles

Dollar extends gains as U.S. retail slump sparks flight to safety

Yen Primed for Advance Toward 100 as Fed Stimulus Saps Dollar

EUR/USD off Lows With Germany to Reopen Economy as Soon as Monday