World News – AU – US dollar slips as markets await presidential debate

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The US dollar index slipped from its recent two-month highs on Tuesday as markets awaited the first debate between US presidential candidates, signs of progress in state fiscal stimulus talks United and economic data including German inflation

After racking up its biggest weekly gains since early April last week as markets became cautious and looked for safer assets, the greenback gave up some gains on Monday and fell again on Tuesday, ahead of the debate between President Donald Trump and the Democratic challenger Joe Biden 90-minute televised debate at 9 p.m. ET will be watched by investors looking for a steer on the prospects of the candidates

ING strategists told clients in a note that an increase in M’s perceived chances Trump was likely to boost the US dollar, « although the not insignificant risk of a contested outcome (with the ultra-accommodating Fed) may keep the dollar’s edge somewhat capped when it comes to vote »

Commerzbank FX and EM analyst You-Na Park-Heger said the question of whether Mr. Trump would accept the outcome if defeated, or instead trigger a period of uncertainty, was the deciding factor for the dollar « The debate is unlikely to provide any new perspective in this regard and therefore we do not expect it to move EUR-USD in any major way, » she wrote

As of 11:04 am GMT, the greenback was at 94,033 against a basket of currencies, down around 01 percent on the day Craig Erlam, senior market analyst at Oanda, said the dollar rebound could end. continue in the short term and that Tuesday’s hiatus could be due to month-end profit-taking as investors wait until after the debate to enter new positions « I think there will be a big ‘side step’ look at today – sit on the fence, let’s just see how this evening goes, » he added. / p>

European stocks fell, but riskier currencies strengthened, a move that Mr. Erlam, was motivated by the US dollar The New Zealand dollar is up 05 percent to 06583 and the Australian dollar is up 06 percent on the day to 071135, both recovering from sharp falls last week The yen is remained stable against the US dollar at 105615 at 1055 GMT

Markets were also awaiting developments in negotiations over aid to those affected by Covid-19 in the United States Speaker of the United States House of Representatives Nancy Pelosi said on Monday that Democratic lawmakers were unveiling a new 2 $ 2 trillion budget stimulus bill, which she said was a compromise and less costly as it covers a shorter period REUTERS

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US dollar, foreign exchange market, Donald Trump, debate

Global news – AU – US dollar slips as markets await presidential debate


SOURCE: https://www.w24news.com

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