• Latest
  • Trending
  • All
US stocks continue to outperform, dollar demand reemerges

US stocks continue to outperform, dollar demand reemerges

September 2, 2020 05:07
Equities struggle amid economic and China-related concerns

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
Dollar lacks upside momentum due to lower Treasury yields

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
Stocks gain, dollar eases ahead of job market data

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off the pressure

December 26, 2022 05:13
Investors spooked by strong US data

Investors spooked by strong US data

December 23, 2022 11:55
Dollar lacks upside momentum due to lower Treasury yields

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
Risk demand reemerges cautiously, but caution remains in place

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
Dollar lacks upside momentum due to lower Treasury yields

US dollar resists selling pressure

December 20, 2022 10:44
Market sentiment dented by recession fears

Market sentiment dented by recession fears

December 19, 2022 02:53
Dollar lacks upside momentum due to lower Treasury yields

Greenback stays on the defensive nearly across the board

November 16, 2022 05:34
Investor sentiment improves, but gains limited

Investor sentiment improves, but gains limited

November 15, 2022 05:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar licks wounds after plunge

November 14, 2022 05:05
  • Terms & Сonditions
  • Contact
Tuesday, February 7, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » US stocks continue to outperform, dollar demand reemerges

US stocks continue to outperform, dollar demand reemerges

by Stephen Soo
September 2, 2020 05:07
in Fundamental analysis
0
US stocks continue to outperform, dollar demand reemerges

EURUSD was rejected from the 1.20 handle yesterday and extended losses to 1.1860 during the European hours


US stock markets finished higher on Tuesday after manufacturing data showed the country’s economy continued to recover from the coronavirus crisis. ISM’s manufacturing PMI climbed from 54.2 in July to 56, the highest figure since January 2019, and better than the market expectation of 54.5. Also on the positive side, a White House official said that Republicans were likely to take up a COVID-19 relief bill next week.  As a result, both the S&P 500 and Nasdaq closed at a record, with the technology sector and Apple leading the gains. The S&P 500 and the Dow Jones Industrial Average added 0.75% each, while the Nasdaq Composite rallied 1.39%. 


Today in Asia, equities were mixed-to-positive. South Korea’s Kospi inched up 0.63% after the official report showed that August’s consumer price index rose 0.7% year-on-year. In Australia, the GDP contracted by 7% during the second quarter, confirming that the country’s economy has fallen into a technical recession. Despite weak numbers, the ASX 200 jumped 1.84% as the Australian state of Victoria reported it was looking to ease lockdown restrictions.


European equities opened higher on Wednesday as the common currency eased in a retreat from long-term highs after Philip Lane, chief economist at the European Central Bank, said the euro-dollar rate does matter. On the data front, German retail sales were down by 0.9% in July after a revised drop of 1.9% in June. 


Comments from Philip Lane coupled with German data and a broader recovery in dollar demand sent the euro lower on Wednesday. EURUSD was rejected from the 1.20 handle yesterday and extended losses to 1.1860 during the European hours today. Later in the day, the US ADP employment data could affect USD-pairs, and strong numbers will likely add to recovery momentum in the greenback. 


Elsewhere, bitcoin finished around the $12,000 handle yesterday but failed to preserve gains and retreated sharply on Wednesday. The digital currency has already given up nearly all gains seen on Tuesday and is nearing the $11,600 region. It looks like investors opted to take profit after a five-day winning streak. 

Tags: Covid-19DOW JONESEURUSDNasdaq
Share2Tweet1
ADVERTISEMENT
Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

Related Posts

Equities struggle amid economic and China-related concerns
Fundamental analysis

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
12
Stocks gain, dollar eases ahead of job market data
Fundamental analysis

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar tries to shrug off the pressure

December 26, 2022 05:13
12
Investors spooked by strong US data
Fundamental analysis

Investors spooked by strong US data

December 23, 2022 11:55
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
16

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

ECB recalibrates targeted lending operations to further support real economy

April 30, 2020 13:57
10
Dollar lacks upside momentum due to lower Treasury yields

Greenback extends the ascent on safe-haven demand

January 25, 2022 01:22
10
Pound corrects higher due to dollar weakness

Euro bulls cautiously optimistic, dollar retreats

March 11, 2021 05:35
17

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2022 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2022 FWNews