SnO Posted November 21, 2022 Share Posted November 21, 2022 The US dollar rose strongly against major currencies today, Monday, while the Chinese yuan fell, as sentiment deteriorated due to the high incidence of the Corona virus and the tightening of restrictions in some cities in the second largest economy in the world. The Chinese capital, Beijing, recorded two deaths on November 20, at a time when the city's most populous district urged people to stay home today, as infections with Covid-19 rose. Soaring infections and new deaths have cast doubt on hopes for an easing of strict restrictions suffocating the economy. The Chinese yuan recorded in internal trading 7.1451 per dollar, and fell to 7.1708, which is its weakest level since November 11. The dollar index - which measures the performance of the US currency against major currencies - rose 0.412% to 107,330 points today, its highest level since November 11. The index rose 0.5% last week, its biggest weekly gain in a month, as investors flocked to the safe-haven currency. Despite the gains it made today, Monday, the index is still on track to record its worst monthly performance since July 2020. Comments about monetary tightening by officials from the Federal Reserve (the US central bank) helped the dollar stabilize after sharp losses suffered earlier this month, when inflation data that was slightly less than expected boosted investors' hopes of a slowdown in raising prices. interest rates. The euro fell 0.46% and reached 1.0277 dollars, heading towards recording a series of losses over 3 days, near its lowest level since November 14, while the pound sterling recorded in the last trading 1.1831 dollars, down 0.47% during the day. The Australian dollar also fell 0.49% against the US dollar to $0.664, while cryptocurrencies remained under pressure, with Bitcoin falling 0.63% to $16,153. play video The duration of the video is 02 minutes 08 seconds 02:08 Oil is going down In early trading, oil prices hovered near two-month lows on Monday as supply concerns eased, while worries about fuel demand in China and rising interest rates overshadowed prices. Brent crude futures for next January fell 0.3% to $87.34 a barrel by 01:03 GMT, after settling at their lowest level since September 27. US West Texas Intermediate crude futures for December were $80 a barrel, down 8 cents, before the contract expired later in the day. The most active January contracts fell 21 cents to $79.90 a barrel. Both benchmarks closed on Friday at their lowest level since September 27, and extended losses for a second week, with Brent down 9% and West Texas Intermediate 10%. Europe's meager crude supplies fell as refiners stockpiled ahead of the European Union's ban on Russian crude coming into effect on December 5, putting pressure on physical crude markets across Europe, Africa and the United States. Fuel demand for the world's largest crude importer remains weak due to restrictions imposed by China to combat COVID-19. While expectations of further interest rate hikes in other countries have pushed the dollar higher, making dollar-denominated commodities more expensive for investors. https://www.aljazeera.net/ebusiness/2022/11/21/الدولار-يرتفع-بقوة-والنفط-يتراجع-وهذه Link to comment Share on other sites More sharing options...
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