The dollar deepens its losses to its lowest level in a week ahead of the US unemployment benefit data

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The dollar deepens its losses to its lowest level in a week ahead of the US unemployment benefit data

The US dollar fell on the European market on Thursday against a basket of global currencies, to deepen its losses for the third day in a row, recording the lowest level in a week, due to the halt of investor rush to obtain liquidity, after huge stimulus measures in the United States, and investors are awaiting later in the day subsidy data American unemployment, which provides strong evidence of the extent to which the world’s largest economy has been affected by the spread of the Corona virus.

The dollar index fell more than 0.9% to the level of 100.03 points, the lowest in a week, and the level of opening trading today at 100.96 points, and recorded the lowest level at 101.02 points.

The index ended yesterday’s trading down by 0.8%, in the second daily loss in a row, with the continuing operations of liquidating the positions of the American currency, with the continuation of huge stimulus measures in the United States.

The Federal Reserve pledged on Monday that it would run an open asset purchase program, to reduce the economic fallout from the Corona virus outbreak.

On Wednesday, the US Senate passed a trillion-dollar bill aimed at helping unemployed workers and industries affected by the Corona virus pandemic, and the law was sent to the House of Representatives to vote on it Friday Friday.

This is awaiting investors later in the day important data on weekly jobless claims in the United States, which provide strong evidence of the extent of damage to the US economy “the largest economy in the world” due to the outbreak of the Covid-19 virus.

By 12:30 GMT, US jobless claims will be issued by 1.648 million in the week ending March 21 from 281 thousand the previous week.

At the same time, the final reading of the GDP in the United States, the fourth quarter of 2019, is expected to grow at a rate of 2.1% with the same previous reading, and the American economy recorded a growth rate of 2.1% during the third quarter.







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