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  • US dollar crumbles as US jobless claims skyrocket

    From forextime.com

    The Dollar weakened against every single G10 currency on Thursday after terrible US economic data fuelled concerns over the health of the largest economy in the world. Nearly 3.3 million Americans applied for unemployment benefits last week which was more than triple the previous record set in 1982 amid the widespread economic shutdown caused by the pandemic. These figures are certainly a shocking reflecting of how badly the coronavirus has hit theeconomy with the pace of layoffs expected to jump as the United States sinks into a recession. Dollar weakness could become a short term theme if economic data continues to ... (full story)

oh Canada, oh finally UC drop!
You should really listen to what Davit says
It will recover soon. US will do anything to return economy back to the track. While eu and other countries suffers and couldn't do much
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You have not seen what unemployment is in Europe and England. Gold growth in the complete absence of demand for it seems very invented by fund managers ....
loool...Great move... Now all the institutions will buy back Dollar cheap
Quoting rashadali
It will recover soon. US will do anything to return economy back to the track. While eu and other countries suffers and couldn't do much
I don't know about that, I think the buying of USDs was due to the fact that the rest of the world was running to it as a safe haven as they knew the bailout was coming but I don't think that there is still going to be the demand to drive it back to the highs. Time will tell, I bot some on the way up and sold on the way down was a nice play. Interesting times.
Whats the excitement?
DXY is at where it was yesterday?
"Crumbles"??
Dumb article. IMHO.
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Just saw on German TV: they said that at the end of April 2020 there will be 40.000.000 people without a Job in the US.
Terrible...
Quoting harcos
{quote} I don't know about that, I think the buying of USDs was due to the fact that the rest of the world was running to it as a safe haven as they knew the bailout was coming but I don't think that there is still going to be the demand to drive it back to the highs. Time will tell, I bot some on the way up and sold on the way down was a nice play. Interesting times.
The problem is that crisis in the world is not over yet. They will come back to dollar again soon )
Retest of breakout point and the dumb media calls it a crumble. Where do they find clowns like that? Where do they find them?
There are two separate forces at work on USD:
1. Flight to safety, which started a few weeks back and will still continue for a while;
2. Estimates of economic strength based unemployment claims and other fundamentals.

There was a knee-jerk reaction to unemployment claims, but that won't override the flight to safety.
Sure I have a trading plan. Buy low. Sell high. What's yours?
When the world wakes up to the BS set up, things will get back to normal. For now I don't want things to go back to normal. Volatility is high, what a wonderful time to be a trader.
The dollar now still very expensive the normal value is at DXY= 80 and below and the inflation will not be affected considering oil prices
i think crisis in the world is not over yet and EUro will have more suffer and problem than the usd
Always started off from USD and then moving to the rest of Currencies...
In the Great Depression the unemployment rate hit 20%, there is already talk that the employment rate can hit 30% or even 40%.

One of the aggravating factors was protectionism (sounds familiar eh?)

History is teaching us that mankind does not learn from mistakes made in the past.

https://en.wikipedia.org/wiki/Great_Depression
With due respect to all (who might have a different viewpoint).
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