Forex Marketz Daily Forex News – Fully Markets Update
The almighty U.S. dollar lost ground as the new trade day, new trade week and new month began during the Asian trade session on Monday. Forex traders are monitoring political and civil riots in the United States as well as political tensions between the U.S. and China.
Currency traders are also monitoring reports of a possible vaccine for the deadly Covid-19 global pandemic.
The risk sensitive Australian dollar (AUD) was able to inch higher after early losses. The AUD/USD currency exchange rate was last up 0.4 percent to trade near a three month high price point at 0.6703.
The dollar index, which measures the greenback in a basket against six other Forex units, had its worst month in May, for 2020. The index was under pressure on Monday as it was down a fraction of a percent to trade at 98.166.
The EUR/USD currency exchange rate was trading higher and the GBP/USD Forex market challenged a three week high price point. The NZD/USD and the USD/CAD currency exchange rates were trading higher this morning.
As the Dollar Weakens Currency Traders Monitor U.S. Riots
There are violent protests across the United States of America including in front of the White House. This has weighed on sentiment during the Asian trade session, capping losses for the safe have greenback.
The demonstrations, which started as peaceful of the killing of George Floyd at the hands of Minneapolis police, have erupted into outrage and violence across the United States. Cities across the nation are bracing for more violence and the National Guard has been deployed in force to Minnesota.
Traders Monitor the United States and China
Currencies are watching tensions between the world’s two largest economies and new reports are indicating that President Donald Trump has made no move to discontinue the Phase 1 trade deal.
Relations between the two countries have worsened since the Covid-19 pandemic but traders are feeling slightly better as Trump has made no move to sever the trade deal, so far, over Hong Kong.
