US Dollar is mixed versus peers, markets eye consumer confidence and jobless claims due out tomorrow
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EUR/USD 1.0874 GBP/USD 1.2370 USD/CAD 1.4020 AUD/USD 0.6190 USD/JPY 108.95 USD/CNH 7.0710 USD/ILS 3.5932 USD/MXN 24.2280 USD/CHF 0.9707 USD/INR 76.3400
The dollar is mixed versus G-10 peers, but up 0.2% nonetheless following news that European finance ministers failed to agree on a strategy to mitigate the economic impact of the virus. Jobless claims and consumer confidence numbers are due out tomorrow, and will reveal how quickly unemployment is rising, as well as how badly the consumer has been hit.The Trump administration is working on a plan to expand widespread testing for Americans and re-open smaller communities that have not been hit badly with the coronavirus. US National Economic Council Director Larry Kudlow said that the hope is to have the economy fully open in the next four to eight weeks.GBPThe pound led G-10 gainers and is up 0.3% as gilts rally. UK PM Boris Johnson remains in intensive care where his condition is reported to be “stable”.EURThe euro is weaker after European finance ministers failed to agree on a €500 billion package to mitigate the economic impact of the pandemic. They are due to continue talks tomorrow. The ECB took off some pressure after it announced further measures to relieve market stress.CADThe loonie pared yesterday’s gains to trade lower versus the greenback as stock futures and the dollar gained traction in reaction to the latest coronavirus news.ASIA/PACIFICThe Chinese yuan weakened versus the stronger dollar as investors continue to assess the long-term impact of COVID-19. Wuhan officials have started to allow people to leave the city for the first time since late January if they have been cleared as healthy.
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