Euro takes over the dollar as US Jobless claims reach peak

[mentalfloss]

Dollar on defensive as fresh jobs pain hits U.S. economy

The euro, which has been the biggest beneficiary of a recent decline in the dollar, will come into focus later on Friday as traders brace for euro zone manufacturing data.

A larger-than-expected rise in weekly U.S. jobless claims came just one day after Fed officials warned that a recovery in hiring is starting to slow, raising doubts about how quickly the world’s largest economy will bounce back from the coronavirus.

Concern about the U.S. economy, combined with an excess supply of dollars already in circulation due to the Fed’s massive quantitative easing, are likely to weigh on the U.S. currency in coming weeks, analysts say.

“Sentiment for the dollar is weak, reflecting all the QE and the decline in real U.S. yields,” said Tsutomu Soma, a credit trader at Monex Securities.

https://www.reuters.com/article/uk-...resh-jobs-pain-hits-u-s-economy-idUSKBN25H01J

 

[petros]

What does it all mean...to you?

 

[Walter]

The US dollar is still the werld’s currency. Stoopid thread title. US lost a lot more jobs in March and April, some peak.

 

[Serryah]

The US dollar is still the werld’s currency. Stoopid thread title. US lost a lot more jobs in March and April, some peak.

Really? Wasn't aware the Canadian dollar was actually American.


Or is this on the same level as saying that the US President is the "leader of the free world"?

 

[pgs]

That could change in a couple of years. Trump has done incredible damage, in regards to the relationship between NATO countries, the American-EU friendship, and manage to piss up most of America's allies, while cozying up to Putin.

The fact that some people support what Trump is doing to alienate traditional allies, at the expensive of better relations with traditional enemies of America is baffling. The inevitable is going to happen. Europe will fight back, and trade less with the United States. At least Canada was once again ranked as the most trusted country in the World again, it could indirectly benefit us.

Yada yada yada . Remember we went to the metric system to try and cut the imbilical cord with the U.S. and diversify our trade with Europe and Asia ? The U.S. is still our number one trading partner . And the Euro will never become the world’s reserve currency .

 

[Tecumsehsbones]

Yada yada yada . Remember we went to the metric system to try and cut the imbilical cord with the U.S. and diversify our trade with Europe and Asia ? The U.S. is still our number one trading partner . And the Euro will never become the world’s reserve currency .

Pretty much what they said about the U.S. dollar when Sterling was king.

 

[pgs]

Pretty much what they said about the U.S. dollar when Sterling was king.

If and when the U.S. dollar loses it’s status as the world’s reserve currency it will be to one of the emerging Asian markets , most likely China but India is very entrepreneurial and could run up the middle . The Euro is held back by the Mediterranean countries and in its present make up cannot fill that spot .

 

[petros]

If and when the U.S. dollar loses it’s status as the world’s reserve currency it will be to one of the emerging Asian markets , most likely China but India is very entrepreneurial and could run up the middle . The Euro is held back by the Mediterranean countries and in its present make up cannot fill that spot .

They have a long way to go before all of Europe uses it.

 

[Twin_Moose]

That could change in a couple of years. Trump has done incredible damage, in regards to the relationship between NATO countries, the American-EU friendship, and manage to piss up most of America's allies, while cozying up to Putin.
The fact that some people support what Trump is doing to alienate traditional allies, at the expensive of better relations with traditional enemies of America is baffling. The inevitable is going to happen. Europe will fight back, and trade less with the United States. At least Canada was once again ranked as the most trusted country in the World again, it could indirectly benefit us.

Besides Germany, France and Canada complaining about spending to their commitment agreement who else is complaining? Certainly not Poland they are exceeding their spending commitment

 

[Jinentonix]

Really? Wasn't aware the Canadian dollar was actually American.


Or is this on the same level as saying that the US President is the "leader of the free world"?

Really? You had no idea that the world's currencies were compared against the US dollar for the last several decades? How many times have you seen the US and Canadian dollars compared with the Canadian dollar getting a value in USD? At some point in your life you must have seen that at least once.


The US dollar was, and still is for the time being, the benchmark for currency.