Dollar Exchange Rate Today April 10: Euro continues to rise
The Dollar Exchange Rate Today April 10 saw the Euro to rise sharply after the US Federal Reserve (FED) announced the implementation of a $2.3 trillion stimulus package to support the economy.
The Dollar Exchange Rate Today closed at 0.91. The Euro rose sharply by 0.65% against the USD yesterday after the US Federal Reserve (Fed) announced the implementation of a $2.3 trillion stimulus package to strengthen local governments and SMEs, to support the economy in the face of the COVID-19 pandemic.
According to US Department of Labor data, 6.6 million Americans applied for unemployment benefits for the first time last week, far exceeding the forecast of 5 million. The number of new applications that will add up to nearly 10 million people who have filed for unemployment benefits since the end of March has reached more than 16 million. This might affect the dollar exchange rate.
USD to EUR stats (Photo source: XE.com)
In addition, the Euro was also supported after the information that the Finance Ministers of EU member countries agreed to mobilize a huge economic relief package of 500 billion euros to help member economies affected by the COVID pandemic. This is another factor that impacts the dollar exchange rate, according to FX Street.
USD to CAD chart (Photo source: Trading View)
USD to CAD stats (Photo source: XE.com)
The USD to CAD exchange rate closed at 1.4 today. The USD/CAD pair came under strong bearish pressure in the second half of the day even after the data from Canada showed a more-than-expected increase in the Unemployment Rate in March. The pair was trading at 1.4, erasing 0.4% on a daily basis. Statistics Canada reported that the Unemployment Rate in March climbed to 7.8% from 5.6% in February with the Participation Rate slumping to 63.5% in the same period. Although both of these readings missed market expectations by a wide margin, the pair extended its slide on broad-based USD weakness, reported by FX Street.
USD to AUD chart (Photo source: XE.com)
USD to AUD stats (Photo source: XE.com)
The USD to AUD exchange rate closed at 1.58 today. The Aussie was underpinned by rallying equities, but also by gold, as the bright metal run to $1.690.23 a troy ounce, its highest since early March. Despite the coronavirus pandemic numbers continue to be discouraging, market players decided to resume buying high-yielding assets. The USD/AUD pair could extend its advance during the upcoming hours, although volumes are set to decrease sharply. The 4-hour chart shows that it settled above all of its moving averages. The Momentum indicator is directionless within positive levels, as the RSI stabilizes in overbought levels, analyzed by FX Street.
Cross rate between two currencies different from the U.S. Dollar in the United States
Cross rates among currencies today April 10 (Photo source: XE.com)
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