Dollar Fell For Uncertainty Around Stimulus Plan

The day before Christmas holiday, the dollar index, which tests its evolution against a basket of six benchmark currencies, remained suffering on Thursday by -0.10% to 90.32 points. The single European currency also stayed below 1.22 per dollar mark but has risen a bit by +0.03% to 1.2191 per dollar. The yield on the 10-year T-Bond dropped by -3.04 percent to 0.9260 in the U.S. government bond market.

The refusal of U.S. President Donald Trump to approve the financial stimulus bill as it is caused the uncertainty among the market players and resulted in dollar losing some grounds. Also coming successfully to a Brexit deal in Europe strengthened the Euro.

In recent days, a string of indicators was on the schedule in the United States before the Christmas break: mixed figures with, nevertheless, promising employment numbers. In the United States, unemployment registrations dropped more than expected last week. For the week ended December 19, the U.S. Department of Labor reported that unemployment registrations had hit 803,000, down 89,000 from the revised reading of 892,000 the previous week. They are much smaller than expected, as the consensus was set at 880,000.

The four-week average of unemployment claims was up 4,000 to 818,250. Finally, the number of unemployed people paid reached 5.337 million in the week ended December 12, down 170,000 over seven days (5.558 million consensus). The previous record was set in 1982 with 695,000 weekly applications before Coronavirus shut down much of the U.S. economy.

Despite the optimistic comments, at the end of the day, Moderna’s market capitalization dropped -5.33 percent to settle at $123.39. The company said it would be successful against a new form of coronavirus found in the UK with the covid-19 vaccine it developed.

For Apple Company, whose shares are part of the Nasdaq Global Select Market, the session was good. Therefore, the company’s shares rose by 0.77 percent to end the shortened trading session at $131.97.

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