{"id":1973,"date":"2020-03-05T08:19:43","date_gmt":"2020-03-05T08:19:43","guid":{"rendered":"https:\/\/forexvarsity.com\/welcome\/?p=1973"},"modified":"2020-03-05T08:19:45","modified_gmt":"2020-03-05T08:19:45","slug":"u-s-dollar-near-flat-despite-strong-data-imf-sees-more-dire-outlook","status":"publish","type":"post","link":"https:\/\/forexvarsity.com\/welcome\/u-s-dollar-near-flat-despite-strong-data-imf-sees-more-dire-outlook\/","title":{"rendered":"U.S. Dollar Near Flat Despite Strong Data; IMF Sees \u201cMore Dire\u201d Outlook"},"content":{"rendered":"\n

 The U.S. dollar index<\/a> was little changed on Thursday in Asia despite the release of strong economic data.<\/p>\n\n\n\n

The U.S. dollar index<\/a> that tracks the greenback against a basket of other currencies was little changed at 97.302 by 1:14 AM ET (05:14 GMT).<\/p>\n\n\n\n

ISM nonmanufacturing<\/a> data for February showed an uptick to 57.3, beating expectations of 54.9. This represents the highest reading for the service sector index since February 2019.<\/p>\n\n\n\n

Ahead of the key nonfarm payrolls report, meanwhile, the private labor market generated a better-than-expected 183,000 jobs in February.<\/p>\n\n\n\n

The GBP\/USD<\/a> pair inched up 0.1% to 1.2874. Uncertainty about trade talks between Britain and the European Union remained in focus, while expectations for UK interest rate cuts grew.<\/p>\n\n\n\n

The AUD\/USD<\/a> pair was little changed on 0.6627. Australia’s Treasury Department said on Thursday that it is not forecasting a recession as yet, but that the coronavirus is expected to wipe half a percentage point from first-quarter growth.<\/p>\n\n\n\n

The USD\/JPY<\/a> pair lost 0.2% to 107.35 after the International Monetary Fund (IMF) Managing Director Kristalina Georgieva said the global economic outlook has shifted to \u201cmore dire scenarios\u201d as the coronavirus has spread undetected.<\/p>\n\n\n\n

\u201cIn terms of our projections, we unfortunately over the last week have seen a shift to a more adverse scenario for the global economy,\u201d Georgieva told reporters at a briefing Wednesday in Washington.<\/p>\n\n\n\n

\u201cIt is, unfortunately, spreading undetected more than initially was thought,\u201d Georgieva said. \u201cThe moment it became clear it is no more just about China and maybe a small number of countries in Asia surrounding China, then the outlook on what the impact could be changed.\u201d<\/p>\n\n\n\n

The IMF announced a $50 billion aid package to help fight the coronavirus.The money is available \u201cimmediately\u201d and is for low-income and emerging market countries, according to Georgieva.<\/p>\n","protected":false},"excerpt":{"rendered":"

 The U.S. dollar index was little changed on Thursday in Asia despite the release of strong economic data. The U.S. dollar index that tracks the greenback against a basket of other currencies was little changed at 97.302 by 1:14 AM ET (05:14 GMT). ISM nonmanufacturing data for February showed an uptick to 57.3, beating expectations Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1973","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=1973"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1973\/revisions"}],"predecessor-version":[{"id":1974,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1973\/revisions\/1974"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=1973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=1973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=1973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}