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Falling dollar and oil, accompanied by rising gold futures – 22-06-2020

News Date: 22/6/2020 07:06:33
 

Once again, the dollar is declining due to concerns and fears of a greater spread of the Corona virus, even though the spread has known its way to materialize ! But the question is : Will it lead to an economic recovery or will it be postponed for a period beyond this ?

The US dollar pair rose against the New Zealand dollar by 0.3% to 0.64 dollars, while the Australian dollar made progress and modest gains, as it increased by 0.76% to 0.68 dollars ! Against a basket of currencies, the US dollar gave up last week’s gains, losing 0.2 percent to 97.501.

While the Japanese currency remained a safe haven, and recorded in its most recent dealings 106.93 yen per unit of the US dollar, and the People’s Bank of China set the exchange rate of the Japanese yen against the US dollar at 7,0865, after having set it at the end of last week at 7 levels 0913, while the European currency rose by 0.2% to $ 1.12, and the British pound settled at 1,2431, up by 0,90%, although the pound was at a level higher than this, but it was affected by the concerns of not reaching an agreement Trade between Britain and the European Union.

Today, gold rose by 0.5% to $ 1751.63 an ounce at about 6 :00 am, after recording the highest level since May 18. And gold rose in futures trading in the United States 0.7 percent to 1764.50 dollars.

On the other hand, oil prices decreased ! As Brent crude fell 0.3% to $ 42.03 a barrel, while the US crude recorded $ 39.69 a barrel, losing 0.4%.

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