Dollar News (USD)

President Donald Trump signed an executive order aimed at developing deep-sea mining in the United States. This initiative seeks to expand mining operations in both US and international waters, in response to China's increasing dominance in this critical industry.

Since Donald Trump's inauguration, the dollar has lost about a tenth of its value. The downtrend is largely driven by unpredictable policies of the US President. The dollar's status as the world's reserve currency was shaken. The euro may benefit from this, Reuters experts believe.

Andrew Bailey, the head of the Bank of England, considers fears about the dollar losing its status as a reserve asset exaggerated. According to Bloomberg, the spread of such negative opinions about the US currency was caused by a drop in its rate and the price of US Treasury bonds.

This week's events triggered sharp fluctuations of the dollar. Despite high volatility, the American currency still managed to snap a four-week losing run and gained a total of 0.27% this week, according to Reuters.

Last week, the number of Americans filing new applications for unemployment benefits increased just slightly. However, according to Reuters, these dynamics alone are not an indisputable sign of stability in the labor market.

A decrease of the indicator value may contribute to the fall in quotes of USD.

The US dollar's decline is negatively impacting the profitability of European companies in the Stoxx 600 index, as 60% of their sales come from abroad.

Christopher Wood from Jefferies Financial Group Inc. believes that the US stock market is far from its peak and that investors should brace themselves for further declines in stocks, Treasuries, and the dollar.

The US Federal Reserve (Fed) has released its latest Beige Book, revealing a slowdown in economic activity across several regions of the country. Reuters reports that new tariffs enacted by President Donald Trump have led to higher consumer prices and a more pessimistic outlook for businesses.

The April reading of the S&P Global flash composite index, reflecting manufacturing and services sector output in the US, fell 2.3 points to 51.2, according to data released on Wednesday. This marked the lowest pace of business activity growth since 2023.