Sep 27, 2019

The euro sinks to lowest level in 2 years against the dollar

Dion Rabouin, author of Markets
Expand chart
Data: Investing.com; Chart: Axios Visuals

Pulled down by more loose monetary policy from the European Central Bank and weak European growth data, the euro fell to its lowest level in 2 years against the dollar Thursday.

The intrigue: "The biggest story in the world right now is the whistleblower's complaint on President Trump but the biggest story in the forex market is the persistent decline in the euro," BK Asset Management managing director of FX strategy Kathy Lien wrote in a note to clients.

  • The euro was one of the few currencies not to trade higher against the greenback yesterday, and has moved lower in 4 of the last 5 trading sessions, Lien noted.
  • "Investors are worried that between the U.S. and U.K.'s troubles, Eurozone policy makers will need to step in with more action and the longer the Germans wait to announce fiscal stimulus, the more likely EUR/USD will hit 1.08."

Go deeper: The eurozone economy is getting worse

Go deeper

Jacob Knutson
11 mins ago - Politics & Policy

Trump dons face mask during Walter Reed visit

Trump wearing a face mask in Walter Reed National Military Medical Center on July 11. Photo: Alex Edelman/AFP via Getty Images

President Trump wore a face mask during his Saturday visit to Walter Reed National Military Medical Center, according to AP.

Why it matters: This is the first occasion the president has appeared publicly with a facial covering as recommended by health officials since the start of the coronavirus pandemic.

Go deeper (<1 min. read)Arrow
Axios
Updated 30 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5:30 p.m. ET: 12,607,510 — Total deaths: 562,338 — Total recoveries — 6,948,863 — Map.
  2. U.S.: Total confirmed cases as of 5:30 p.m. ET: 3,228,884 — Total deaths: 134,600 — Total recoveries: 983,185 — Total tested: 38,919,421 — Map.
  3. Public health: Jimmy and Rosalynn Carter: "Please wear a mask to save lives" — Fauci hasn't briefed Trump on the coronavirus pandemic in at least two months — We're losing the war on the coronavirus.
  4. Food: How the coronavirus pandemic boosted alternative meat.
  5. Sports: Charge of "money grab" by college football.
  6. World: India reimposes lockdowns as coronavirus cases soar.
Go deeper (<1 min. read)Arrow
Ursula Perano
3 hours ago - Politics & Policy

Supreme Court expands religious freedoms in schools, employment

Illustration: Sarah Grillo/Axios

The Supreme Court ended its term with a series of rulings on religion's role in schools, the workplace and access to health care.

Why it matters: The decisions elevated protections for people and employers of faith, while curtailing those of religion teachers, the nonreligious taxpayer and women who rely on their workplaces' health care plans for contraception.

Go deeper (1 min. read)Arrow