Dollar steadies after week of falls

Dollar steadies after week of falls

Via Reuters:

The dollar recovered slightly on Friday but was still heading for its softest week of the year after surprisingly weak U.S. jobs figures the previous day and ongoing loose Federal Reserve policy prompted investors to trim their bets.

The greenback is on track for a nearly 1% weekly fall against a basket of major currencies, although it edged up a quarter of a percent on the day.

The euro and yen are poised for their largest weekly percentage gains of the year, around 1% up each.

“In short, the energy has gone out of the dollar’s first-quarter rebound, just as it has gone out of the bond sell-off,” said Kit Juckes, head of FX strategy at Societe Generale.

The pause in the dollar’s rally follows a solid rebound over the first quarter after the greenback’s softest year since 2017.

However, after a run of strong U.S. data, Thursday figures showed U.S. unemployment claims unexpectedly rose.

Fed chair Jerome Powell also signalled at an economic forum on Thursday that the central bank plans to keep monetary policy super-easy.

The euro fell a quarter of a percent against the dollar on the day after mixed economic data from Germany, showing a rise in exports in February but a surprise fall in industrial output in separate releases.

The Australian and New Zealand dollars were among the currencies to lose ground and were both down around 0.5% on the day against the dollar.

Analysts at MUFG said in a note the moves had no clear macro trigger, but a financial stability report from Australia’s central bank indicating it would refrain from monetary policy action to tackle growing lending risk may have pressured the Aussie.

Sterling was also on track for its biggest weekly loss of the year and was down around a fifth of a percent on the day.

Our Readers And Listeners Keep Us In Print & On The Air!

Click here to subscribe to The CRUSADE Channel’s Founders Pass Member Service & Gain 24/7 Access to Our Premium, New Talk Radio Service. www.crusadechannel.com/go

What Is The Crusade Channel?

The CRUSADE Channel, The Last LIVE! Radio Station Standing begins our LIVE programming with our all original CRUSADE Channel News hosted by Ron Staffard. Coupled with Mike “The King Dude” Church entertaining you during your morning drive and Rick Barrett giving you the news of the day and the narrative that will follow during your lunch break!

We’ve interviewed over 300 guests, seen Brother Andre Marie notch his 200th broadcast of Reconquest; The Mike Church Show over 1200 episodes; launched an original LIVE! News Service; written and produced 4 Feature Length original dramas including The Last Confession of Sherlock Holmes and set sail on the coolest radio product ever, the 5 Minute Mysteries series! We were the ONLY RADIO outlet to cover the Impeachment Trials of President Trump from gavel to gavel!

Now that you have discovered The Crusade, get30 days for FREE of our premium News-Talk Radio service just head to:

https://crusadechannel.com OR download our FREE app: https://apps.appmachine.com/theveritasradionetworkappIti-