{"id":78282,"date":"2020-11-30T09:55:28","date_gmt":"2020-11-30T09:55:28","guid":{"rendered":"https:\/\/www.zfx.com\/market-news\/zfx-more-than-two-year-low-weak-dollar-continues-amid-cautious-markets\/"},"modified":"2022-04-07T08:07:40","modified_gmt":"2022-04-07T08:07:40","slug":"zfx-more-than-two-year-low-weak-dollar-continues-amid-cautious-markets","status":"publish","type":"market_news","link":"https:\/\/www.zfx.com\/en-mena\/market-news\/zfx-more-than-two-year-low-weak-dollar-continues-amid-cautious-markets\/","title":{"rendered":"ZFX: More than two-year low! Weak dollar continues amid cautious markets"},"content":{"rendered":"

European stock markets opened lower in early trading on Monday. The markets are now waiting\u00a0for more hints, after the rally driven by positive vaccine news.<\/p>\n

Asian stocks were closed lower, with a better than expected PMI figures from mainland China. However, after investors have digested the news, the markets seem to lose its momentum. At this moment, stock futures in the Wall Street\u00a0dipped\u00a0a bit, retracing from the recent record\u00a0highs.<\/p>\n

Analysts believe that tensions between China and the US may be one of the reason for such bearish sentiment on Monday. It is reported that Trump administration may add more Chinese firms to the sanction list, including chipmaker SMIC and oil and gas producer CNOOC, hurting the risk appetite of investors.<\/p>\n

This week, oil prices would still be key focus in the markets as OPEC and allies\u00a0led by Russia\u00a0will discuss whether they will\u00a0extend the production cuts plan in 2021.\u00a0Every traders will pay closely attention to the decision made after the meeting by those major oil-producing countries.<\/p>\n

Oil prices were weaker in the early session on Monday, while WTI is trading at $44 level and Brent is trading at $47 level.<\/p>\n

Gold price tumbled last week, downward breaking $1800 level support. The positive news of various COVID-19 vaccines drove optimism of economic recovery. Although the recovery is on the \u201cslow\u201d\u00a0track, investors are expecting \u201cthe worst has passed\u201d, lowering the safe-haven demand.<\/p>\n

Investors also keep their eyes on the testimony Congressional by the Fed Chairman Jerome Powell this week. The latest minutes of FOMC stated that the members are discussing how to inject more money into the economy, stimulating the job market that seriously affected by coronavirus pandemic.\u00a0Of course, further clues of policy direction may be found in Powell\u2019s speech.<\/p>\n

The dollar index dropped to 91.7 level on Monday, following the recent downtrend since November, declining from above 94 level. The dollar keeps testing a more than two-year low, that mainly driven by the vaccine optimism and the easing policies expectations of the US side.<\/p>\n

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Risk Warning: The above content is for reference only, and does not represent ZFX\u2019s position. ZFX does not assume any form of loss caused by any trading operations carried out in accordance with this article. Please be firm in your thinking and do the corresponding risk control.<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The dollar index dropped to 91.7 level on Monday, following the recent downtrend since November, declining from above 94 level. The dollar keeps testing a more than two-year low, that mainly driven by the vaccine optimism and the easing policies expectations of the US side.<\/p>\n","protected":false},"author":177,"featured_media":74815,"template":"","market_news_categories":[11956],"market_news_tags":[],"class_list":["post-78282","market_news","type-market_news","status-publish","has-post-thumbnail","hentry","market_news_categories-daily-news-en-mena"],"acf":[],"current_lang":"en-mena","_links":{"self":[{"href":"https:\/\/www.zfx.com\/en-mena\/wp-json\/wp\/v2\/market_news\/78282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zfx.com\/en-mena\/wp-json\/wp\/v2\/market_news"}],"about":[{"href":"https:\/\/www.zfx.com\/en-mena\/wp-json\/wp\/v2\/types\/market_news"}],"author":[{"embeddable":true,"href":"https:\/\/www.zfx.com\/en-mena\/wp-json\/wp\/v2\/users\/177"}],"version-history":[{"count":0,"href":"https:\/\/www.zfx.com\/en-mena\/wp-json\/wp\/v2\/market_news\/78282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zfx.com\/en-mena\/wp-json\/wp\/v2\/media\/74815"}],"wp:attachment":[{"href":"https:\/\/www.zfx.com\/en-mena\/wp-json\/wp\/v2\/media?parent=78282"}],"wp:term":[{"taxonomy":"market_news_categories","embeddable":true,"href":"https:\/\/www.zfx.com\/en-mena\/wp-json\/wp\/v2\/market_news_categories?post=78282"},{"taxonomy":"market_news_tags","embeddable":true,"href":"https:\/\/www.zfx.com\/en-mena\/wp-json\/wp\/v2\/market_news_tags?post=78282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}