Rout In Global Stocks Aids Greenback


The U.S. Dollar improved mostly against commodity-based currencies by an average of half a percent after a major downturn across global markets.


Since China had been so quiet about anything regarding a trade truce with the United States and the yield curve inverted, investors reacted with a sell-off, seeming tom think that an economic slowdown is up ahead. The Dow Jones alone suffered a day’s loss of 800 points.

As of this morning, the Chinese have made official announcement of their support for dialogue with American officials after the Commerce Ministry agreed to implement quick changes to specific items on which there is consensus. Thus far, the buck remains solid against Canadian Dollar, Mexican Peso, as well as the Oceanic currencies (AUD, NZD). Pound, Euro and other major not affected. All data that was scheduled for release today will come in tomorrow in observance of the 41st President’s funeral.

What to Watch Today…

  • • No major events scheduled for today.


The Euro survived a test in the form of Purchasing Managers Index figures that exceeded expectations all around the bloc. PMI Composite for the region was estimated to expand with a reading of 52.4, but overachieved at 52.7, with Italian services jumping from lack of expansion to actual growth, with a reading forecast of 49.3 coming in at 50.3 instead.

Big protests and strikes came to an end in France after a controversial fuel tax proposal caused uproar across the citizenry. President Emmanuel Macron has been losing plenty of domestic political battles, casting doubt over his ability to take reigns as EU’s go-to leader as head of a state. Political uncertainty could prevent Euro from gaining sooner despite economic fundamentals being on track.


The Pound is resisting further damage to its value after another political blow to Prime Minister Theresa May and a low U.K. Composite PMI reading. The PM witnessed as the House of Commons voted to not allow a no-deal scenario and to dictate language to amend the Brexit deal prior to a vote on approval.

Additionally, further studies and analyses predict calamity for the U.K. outside of the EU’s single market. Some estimates are dire with GDP losses predicted as high as 10.0% in the next 6-10 years. PMI Services might not indicate all gloom and doom, but it did come in at 50.4 instead of 52.5, indicating a sluggish November in terms of business investment.


See how much foreign currency your money can buy right now.

Account opening:

General enquiry:

Currency converter: