- The dollar goes from maximum while the solid corporate profits increase the appetite of investors by risk
- The general trend of the US dollar remains positive, with the DXY on the way to close its second consecutive week in green.
- The dollar reached new three weeks on Thursday, after solid US retail sales and lower unemployment applications data.
The US dollar is negotiating with a moderate negative tone on Friday. The appetite for the risk triggered by the optimistic corporate profits of the USA. Views on Thursday has extended to the European session on Friday, increasing the demand for shares and pushing down the US yields and the USD.
The US dollar index (DXY), which measures the value of the USD compared to the most negotiated currencies, is currently testing levels below 98.00 at the time of writing, going down from the maximum of three weeks of 98.50 reached on Friday.
However, the general trend is still positive, with the DXY moving 0.55% above the weekly opening and on the way to close its second consecutive weekly gain.
Solid corporate gains increased appetite for risk
The US corporate profits increased the appetite for the risk on Thursday. Netflix results exceeded expectations, TSMC, the main AI chips manufacturer, showed its best registered quarterly performance, and the reports of other companies such as PepsiCo and United Airlines contributed to raising the feeling of the market.
In addition, the governor of the Fed, Christopher Waller, reiterated his call for lower interest rates during the last negotiation session in the US and increased the bearish pressure over the US dollar.
Something before, the DXY reached a new maximum of three weeks after US retail sales figures for June and weekly unemployment applications confirmed that consumption and employment remain resilient, providing support to the president of the Fed, Powell, to keep interest rates without changes for some time.
American dollar today
The lower table shows the percentage of US dollar change (USD) compared to the main coins today. American dollar was the strongest currency against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.38% | -0.19% | 0.00% | -0.19% | -0.49% | -0.46% | -0.41% | |
| EUR | 0.38% | 0.21% | 0.40% | 0.19% | -0.11% | -0.19% | -0.02% | |
| GBP | 0.19% | -0.21% | 0.18% | 0.00% | -0.30% | -0.33% | -0.21% | |
| JPY | 0.00% | -0.40% | -0.18% | -0.19% | -0.49% | -0.57% | -0.31% | |
| CAD | 0.19% | -0.19% | -0.00% | 0.19% | -0.31% | -0.35% | -0.22% | |
| Aud | 0.49% | 0.11% | 0.30% | 0.49% | 0.31% | -0.05% | 0.08% | |
| NZD | 0.46% | 0.19% | 0.33% | 0.57% | 0.35% | 0.05% | 0.13% | |
| CHF | 0.41% | 0.02% | 0.21% | 0.31% | 0.22% | -0.08% | -0.13% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
