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Another Lower Session For The Dollar


The U.S dollar continued to fall as it opened the week lower against the six major currencies, The U.S. Index, which measures the dollar strength against a basket of six currencies fell on Friday and ended the session at 93.05.

In the U.S, eyes in the upcoming days are gazing toward the stimulate bill that both democratic and republican parties are still disputing about, noting that President Trump also said that he is trying to get a 1.8 trillion-dollar aid to the economy to face covid-19 challenges after the House of Democrats passed a 2.2 trillion-dollar bill.

The pressure on the greenback might continue during the period before elections as both Democrats and Republicans alongside with the President Trump and the presidential candidate Joe Biden are expected to race aggressively towards the oval office, these acts might be dangerous to investors, as some Investors pulled 25.8 billion dollar from U.S. equity funds in the past week according to Reuters.

Over in Europe, the Common currency reached two-week high on Friday against the Greenback and ended the session at 1.18255 EURUSD.  That said the continuous increase of infections among covid-19 patient is causing fear to investors

Also, in Europe The Great British Pound climbed higher versus its counterpart, the U.S. Dollar, to settle at 1.3035.

In Brexit news, Britain’s Prime minister Boris Johnson held some talks with Germany’s Chancellor Angela Merkel to bridge the significant gaps according to his own words, talks and negotiations are expected to continue between Britain and the European union in the upcoming days

Addressing Safe-Haven assets, the Japanese Yen was slightly lower against the Greenback to end the session at 105.6 USDJPY.

On the other hand, the Swiss franc rose against the U.S dollar to settle at 0.9111 USDCHF.

The Precious Metal witnessed a jump above 1,900 dollars per ouns to end the trading session maintaining that jump, The Gold ended the session at 1929.

Elsewhere in Canada, the Lonnie also benefited from the set back of the U.S dollar to be traded higher on Friday’ session. The USDCAD ended the session at 1.3120.

On Oil news, the oil rose sharply then got a setback to its lower current levels, prices where affected by concerns about supply due to a strike in Norway and shutdown in production tied to Hurricane Delta, the oil ended the session at 40.38 USD per barrel.

The Aussie Dollar finished the session higher to end the trading session at 0.7237 while the kiwi dollar ended the session at 0.666

Cryptocurrencies ended the session slightly higher, with Bitcoin settling at 11023 BTCUSD. Moreover, Litecoin and Ethereum ended the session at 45.13 LTCUSD and 361.37 ETHUSD, respectively.

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