Dollar gains as weak economic data drives investors to safety

16.04.2020 - Petr Mazaylo
Dollar gains as weak economic data drives investors to safety

The dollar rose against other currencies as investors turned to safety after data revealed a worsening economic activity.

The dollar index showed a 0.2% gain, at 99.831. The euro fell 0.25%, at $1.0881 and the pound dropped 0.2%, at $1.2482. The dollar gained 0.4%, at $107.86 against the Japanese yen.

U.S. retail sales fell 8.7% in March, underscoring fears of deeper economic damage.

The Australian dollar lost 0.4%, at $0.6293. The New Zealand dollar was down 0.6%, at $0.5961 after central bank governor Adrian Orr said that negative interest rates were considered in battling economic fallout.

The Canadian dollar traded at C$1.4116 per US dollar while the Mexican peso lost 1.7%, at $24.4030.

The market mood was affected by the data on weak economic activity. However, investors remained hopeful that the pandemic is nearing its peak as countries globally, including the United States, plan to re-open their economies as soon as possible.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue

Help with deposit?