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Ekonomické zprávy
22.11.2021

European session review: USD edges higher amid lingering growth worries

TimeCountryEventPeriodPrevious valueForecastActual
11:00GermanyBundesbank Monthly Report    


USD appreciated slightly against other major currencies in the European session on Monday amid lingering worries about a surge of Covid-19 infections in Europe and its impacts on global economic growth.

The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, increased 0.11% to 96.13.

Faced with growing coronavirus cases and hospitalizations, Austria announced a 10-day nationwide lockdown from today, becoming the first country in western Europe to reimpose a full national coronavirus quarantine. Reports also suggest that Germany could follow suit with similar measures. On this backdrop, concerns about slower global economic growth exacerbated, supporting demand for the safe-haven U.S. dollar.

USD also remained supported by expectations that the Fed could be forced to accelerate its tapering plans in order to slow the steep pace of the U.S. CPI gains.  

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