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Dollar stabilises ahead of earnings, US consumer data | Malay Mail

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NEW YORK, July 14 — The dollar edged lower yesterday as investors looked to US corporate earnings and upcoming retail data to gauge whether guarded optimism on the economic outlook was justified. The index that measures the safe-haven dollar against a basket of six other major currencies pared...

The dollar ended its third week of losses on Friday as investors bought into risk-sensitive currencies on bets that the worst of the pandemic’s sweeping impact was over. — Reuters pic

The index that measures the safe-haven dollar against a basket of six other major currencies pared early losses to end the session just 0.07 per cent lower at 96.538. But yesterday afternoon, California Governor Gavin Newsom ordered a massive retrenchment of the state’s optimistic reopening, shutting bars and banning indoor restaurant dining statewide and closing churches, gyms and hair salons in hardest-hit counties.

While Refinitiv data suggests second-quarter results will show the second-biggest quarterly drop in corporate earnings since 1968, investors maintain some degree of confidence in the US consumer.

 

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