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NEW YORK (Reuters) - The dollar fell for a third straight session on Thursday, with investors seeking out higher-yielding currencies, as a slew of better-than-expected U.S. data and continued optimism about a massive stimulus package spurred hopes of a recovery in the world’s largest economy.
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The euro, on the other hand, gained versus an overall weak dollar, even as European Central Bank President Christine Lagarde warned about a renewed surge in COVID-19 infections and the prospect of prolonged restrictions that could challenge the region’s economic outlook.
The ECB, which kept interest rates steady on Thursday, also pledged to provide more support for the economy if needed.
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Risks surrounding the euro area growth outlook remain tilted to the downside, but are now less pronounced, the European Central Bank President Christine Lagarde
Canadian Dollar Outlook: USD/CAD Rebound May Continue Ahead of BoC 2021-01-18 07:30:00 Daniel Moss, Analyst
Canadian Dollar, USD/CAD, Coronavirus Restrictions, Bank of Canada, IGCS – Talking Points:
Risk appetite notably faded to kick-off a fresh week of trade as attention shifts to President-elect Biden’s upcoming inauguration.
Deteriorating health outcomes and economic data may weigh on the Canadian Dollar ahead of the Bank of Canada’s upcoming rate decision.
A Double Bottom reversal pattern hints at further upside for USD/CAD in the short-term. Advertisement
Asia-Pacific Recap
Risk appetite notably faded during Asia-Pacific trade as investors look towards President-elect Joe Biden’s inauguration on January 20. Australia’s ASX 200 fell 0.78% and Japan’s Nikkei 225 slid 0.97%, as local health authorities reported a record number of coronavirus patients.
(Bloomberg) The World Economic Forum said Chinese President Xi Jinping and his French counterpart Emmanuel Macron will be among the speakers at the online event it is holding this month instead of its usual forum in the Swiss ski resort of Davos.