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Foreign exchange market: scattered order of currencies

08/11/2024
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Ce vendredi, le dollar américain et l' euro reculent, tandis que les dollars australiens et New Zealanders are expected to post solid weekly gains. The ruble is stabilizing and the rand has fallen

.

The dollar took a break on Friday, poised to end an eventful week with a slight gain as markets assess the impact of Donald Trump's impending return to the White House and what that would mean for the American economy and its rate outlook. The dollar still lost some of its significant gains at the beginning of the week as traders closed their profitable bets on a Trump presidency after his election victory

.

The euro fell by 0.07% to 1.0795 dollars and was heading for a weekly decrease of 0.35%, hampered by the rise of the dollar and by a political crisis in Germany, where the already fragile coalition led by Chancellor Olaf Scholz collapsed Wednesday evening.

Australian and New Zealand dollars are heading for solid weekly gains after a tumultuous week, when Donald Trump's victory in the US elections took them to their lowest levels in three months, before hopes of new Chinese stimulus triggered a strong recovery.

Les dollars australien et néo-zélandais rebondissent après une forte baisse, les investisseurs surveillant les mesures de relance de la Chine .

The Russian ruble stabilized at nearly 98 per dollar on Friday, still trading near the symbolic threshold of 100 that it briefly crossed when Donald Trump declared victory in the American election earlier this week. At 08:57 GMT, the ruble was 0.2% stronger against the dollar at 97.80, according to LSEG data. On Wednesday, the Russian currency hit its lowest level in over a year against the dollar. The ruble strengthened by 1.4% against the yuan to 13.54, and gained 0.1% to 105.74

against the euro.

The South African rand was down slightly on Friday morning, in the wake of the dollar regaining the upper hand. At 07:00 GMT, the rand traded at 17.3650 against the dollar, down 0.2% from its previous close. The rand collapsed on Wednesday when the results of the American elections showed that Donald Trump had won the presidential race, but it reversed the trend on Thursday and closed stronger than the market opened

on Wednesday.
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