Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Currencies

US dollar starts the week on a strong footing as investors seek safety

Olumide Adesina by Olumide Adesina
May 16, 2022
in Currencies
The US dollar remains king, U.S dollar gains against major currencies, America threatens China with sanctions., U.S dollar slumps against major currencies, investors become optimistic about global demand, U.S Dollar Stands Firm, Foreign Exchange Traders Remain Neutral 
Share on FacebookShare on TwitterShare on Linkedin

On Monday, the greenback began the week just off a 20-year high against peers, as investors sought safety due to concerns over global growth, while cryptocurrency markets showed some stabilization after last week’s turmoil.

Following six consecutive weeks of gains, the dollar index was at 104.54, briefly crossing the 105 level on Friday. A mounting global growth concern is supporting broad dollar strength.

RelatedPosts

Exchange rate appreciates at I&E window as forex supply rises to 3-week high 

High oil prices present Nigeria’s central bank with a chance to adjust the exchange rate – World Bank

On concerns about the U.S. Federal Reserve’s ability to dampen inflation without causing recession as well as the effects of China’s zero-COVID-19 policy, investors have been flocking to safe-haven currencies.

What you should know

Traders are also looking for reiteration or pushback on the notion that 75-basis point rate hikes are currently off the table.

  • Markets are pricing in a 50-basis point hike at the Fed’s next two meetings, according to CME’s Fedwatch tool, but a larger increase is possible.
  • Despite the strong dollar and the exposure of the European economy to the Ukraine conflict, the euro started the week near its lowest level since early 2017.
  • The euro was trading at $1.0398 on Monday morning, barely above the $1.0354 level it reached on Thursday, its lowest level since early 2017.
  • The European Central Bank is also scheduled to give numerous speeches this week for investors to watch.
  • The pound has weakened along with the euro, slipping to $1.2256 on Monday after sliding as low as $1.2156 last week due to softer than expected GDP figures for the first quarter.
  • As of Monday morning, the Japanese yen was trading at 129.43 yen per dollar. It enjoyed its first week of gains since early March last week, as growth fears led to a halt to the upward march of U.S. Treasury yields. The yen is vulnerable to rising U.S. yields when Japanese yields are low.
  • After a turbulent week driven by TerraUSD, a stablecoin that broke its dollar peg, cryptocurrency markets have had a quiet weekend, with Bitcoin staying above $30K.

Related

Tags: Dollar

Leave a Reply Cancel reply

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

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Eco Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Two decisions Buhari needs to make to rescue his legacy on the Nigerian economy
    • NAFDAC raises alarm over banned European cosmetic product, Placentyne Hair Lotion in Nigeria
    • Terrorism, Banditry: Zamfara government directs residents to acquire guns for self defence

    Follow us on social media:

    Recent News

    Buhari requests Senate approval on ICPC and RMAFC commissioners’ appointment

    Two decisions Buhari needs to make to rescue his legacy on the Nigerian economy

    June 26, 2022
    Covid-19: NAFDAC give reasons for not approving herbal treament

    NAFDAC raises alarm over banned European cosmetic product, Placentyne Hair Lotion in Nigeria

    June 26, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com