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What is the price of the dollar?

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Democrats in Congress unveiled a bill that would raise tax rates to a fraction of the vote, according to Reuters. To be financed from this project. An effort that is in stark contrast to the Republican view of tax cuts, which, if passed, would raise the income tax rate to 26.5 percent and for companies 39.6 percent.

The UK economy grew 3.6 percent in the three months to July, down 0.2 percent from a year earlier, the Statistics Center said in a report. Last year, Britain’s economy shrank by 10 percent, the worst performance in three centuries and one of the lowest growth rates in Europe and the world. This year, however, production and trade statistics have become increasingly promising.

The European Central Bank (ECB) said in a report that it was pleased with the acceleration of economic recovery in European countries, raising its estimate of the average economic growth of the eurozone and the European Union this year. According to the agency, the average economic growth of 19 eurozone countries this year will be five percent, which is 0.4 percent higher than the previous forecast. However, the European Central Bank (ECB) has said that inflation is expected to be above the 2% target this year.

China’s inflation hit 0.8 percent in the first six months of August. This inflation rate, which was 0.2 percent lower than the inflation of the previous month and 0.1 percent higher than the rate predicted by experts, was most affected by the increase in transport inflation, which increased to a positive 5.9 percent. has done. This is the lowest inflation recorded in the last five months in China. Food with a negative inflation of 0.8 percent has been the main factor in reducing inflation. Inflation in culture and education is 3.0 percent and water and electricity are 1.1 percent.

In a clear warning to the US economy, the index of optimism for the US economy in the first week of September reached 48.5 points, which is 5.1 percent lower than the figure recorded in the previous month. Due to this trend, the inflow of new capital into various sectors is expected to slow down and the government will be forced to inject more liquidity directly into the markets. Work on the government’s proposed $ 1 trillion bill in the Senate will begin soon.

After 11 months, the upward trend in China’s gold and foreign exchange reserves has stopped, and according to the China Bureau of Foreign Exchange Reserves, the country’s foreign exchange reserves have decreased by $ 3 billion compared to the previous month to $ 3.232 trillion. In recent months, China has largely prevented the outflow of foreign exchange resources by implementing strict policies. By the end of this month, China had $ 113.69 billion in gold reserves, down $ 680 million from the previous month.

US economic growth this year is expected to be one of the highest in two decades. However, this growth is unlikely to be as strong as previously thought: Goldman Sachs said in a new report that it has cut its US economic growth forecast to 5.7 percent this year, up from an earlier estimate of 0.2. The percentage has decreased. In a few weeks, the United States will begin injecting a third dose of the vaccine into vulnerable groups such as the elderly.

The confidence index of US service participants has reached its lowest level in two years, and this issue has caused concern among market participants after the peak of inflation. In July, the index reached 55.11 points, which is 4.8 points lower than the previous month. Although foreign demand for US goods and services has reached its highest level this year, the corona and inflation appear to be a major concern for activists, especially as the number of Covid-19 victims in the United States is rising again.

Statistics released by the US Department of Commerce show a relative improvement in the US economy in the field of foreign trade. By the end of July, the US trade deficit had reached $ 70.1 billion, down 4.3 percent from the previous month and $ 2.5 billion lower than previously forecast. US imports fell 1.2 percent this month to $ 236.3 billion, while exports rose 1.3 percent to $ 212.8 billion.

What is the price of the dollar?

Despite the relative reduction of the US government deficit after the increase in tax revenues, the amount of US government debt by the end of August reached 28 trillion 706 billion 443 million dollars. By the end of this month, the average debt of every American citizen was $ 86,157, and the average debt of every American taxpayer was $ 228,322. The US government’s budget deficit reached $ 3.102 trillion and $ 567 million by the end of August.

So far, more than 225 million 789 thousand 321 cases of corona have been reported, among which 4 million 649 thousand 33 people have lost their lives. Among the various countries, the highest casualties were in the United States with 678,372, Brazil with 586,882, India with 443,375, Mexico with 267,748 and Peru with 198,764. .

“Markets are in a period of transition and preparing for the era of central bank support,” said Gregory Anderson, senior foreign exchange strategist at BMW Capital Markets. As interest rates rise, there are more reasons to support the dollar, but demand for it will also decrease. We will find out how and how fast the Federal Reserve is going to change direction.

Dollar Index (above rates are calculated based on the closing hours of trading in New York foreign exchange markets)

The dollar index, which measures the exchange rate against a basket of global currencies, closed 0.12 percent higher at 92,657 points in today’s trading. (The dollar index is usually expressed against the six major world currencies or the top 10 world currencies. , Singapore Dollar, Swiss Franc, Malaysian Ringgit, Japanese Yen and Chinese Yuan)

The exchange rate of each Swiss franc was announced as $ 1.083.

European currencies

In the most recent trading session, the pound traded down 0.12% at $ 1.382. The euro fell 0.04 percent to $ 1.180 after staying in the 1.18 channel.

Asian currencies

In Asian currency markets, the dollar rose 0.1 percent to 110.14 yen. Against the Australian counterpart, each US dollar was exchanged for $ 1.358. The exchange rate of the dollar was also equal to 6.452 Chinese yuan.

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