minus academy faq plus academy faq Check in circle Apple Android Home Magnifer Calculator Mail Email Facebook Twitter RSS Linkedin Linkedin hollower Headphones Wechats Instagram Line Mail 2 Phone Phone 2 Minus Plus Arrow right Arrow left (variant 2) Arrow right (variant 2) Brand logo Brand logo not filled Hamburger Flag of the Hong Kong Flag of the US/GB Flag of the US/GB Flag of the US/GB Flag of the China Flag of the China Flag of the China (traditional) Flag of the Taiwan Flag of the Hong Kong Flag of the Spain Flag of the Russia Flag of the France Flag of the German Flag of the Portugal Flag of the Italy Flag of the Poland Flag of the Czech Flag of the Hungary Flag of the Sweden Flag of the Bulgarian Flag of the Finland Flag of the Lithuania Flag of the Denmark Flag of the Croatia Flag of the Estonia Flag of the Norway Flag of the Romania Flag of the United Arab Emirates Flag of the United Arab Emirates Flag of the Indonesia Flag of the Malaysia Flag of the Korea Flag of the Korea Flag of the Samoa Flag of the Vietnam Flag of the Thailand Flag of the Turkey Flag of the Japan Cross Cross large User Arrow down Arrow up Cube Info list Data comunication Clock Slash
Market News
Dollar keep strong on Friday, supported by safe-haven demand - Zeal Capital Market

Dollar keep strong on Friday, supported by safe-haven demand

13-03-2020 10:06

Investors are scrambling to buy US dollars as panic about the new coronavirus epidemic has intensified. Faced with the big collapse of the financial market, investors are lost and were only eager to sell risky assets.

ZFX analyst Jacob Leung said that the market is busy for "cash out", which imply a shortage of dollars.

The Federal Reserve finally take action to inject $1.5 trillion in short-term funds into the market on Thursday.

However, those measures may be only effective in the next few days. Investors still expect that the Fed will have to take further action to restore financial market order and stability.

Even though the European Central Bank did not cut interest rates by 10 basis points, it did not have much support for the euro, and even some investors were disappointed that they were bearish on the economic outlook of the euro zone. It would be a negative factor to euro. The Dollar index hit the high at 98.31 last night.

On the other hand, the market has expected the Federal Reserve to cut interest rates by at least another 75 basis points next week. Even so, the dollar was higher against most major currencies.

Traders are currently mainly concerned about the stock market crash, because with the rapid spread of the virus globally, the global recession is very likely. Generally, when the market is turbulent, disappointed and disturbed, it needs US dollar.