{"id":99562,"date":"2020-04-29T05:41:02","date_gmt":"2020-04-29T09:41:02","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=99562"},"modified":"2020-04-29T06:49:53","modified_gmt":"2020-04-29T10:49:53","slug":"103186-usd-hkd-holds-steady-at-7-7501-usd-index-declines","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103186-usd-hkd-holds-steady-at-7-7501-usd-index-declines\/","title":{"rendered":"USD\/HKD Holds Steady at 7.7501, USD Index Declines"},"content":{"rendered":"

USD\/HKD<\/a> remains unchanged 7.7501, after touching 7.7506 in the morning. The Hong Kong Dollar is pegged to the USD<\/a>, which is why the pair is not volatile. However, the HKD is still one of the best performing currencies year-to-date.<\/p>\n

Today, the US dollar index slightly declined, as the American currency has lost ground against majors, including the euro, the pound, the Japanese yen, and the Canadian dollar.<\/p>\n

Yesterday, the US released a series of report that reflects the economic damage caused by the coronavirus pandemic and the lockdown measures.<\/p>\n

The Conference Board (CB) published its consumer confidence index, which fell to 86.9 in April, the lowest figure in about six years. Last month, the indicator was at 118.8. Analysts expected a decline to 87.9.<\/p>\n

The CB\u2019s gauge of present situation, which measures consumers\u2019 view on current business and labor market situation, plunged by a record 90 points to 76.4. Nevertheless, the expectations index, which covers consumers\u2019 near-term outlook for income, business and employment conditions, inched up to 93.8 from 86.8.<\/p>\n

The CB explained that the improvement might be caused by households\u2019 expectations that \u201cstay-at home restrictions will loosen soon, along with a re-opening of the economy.\u201d<\/p>\n

Check real time USD to HKD exchange rate<\/span><\/a><\/div>\n

US Imports and Exports Decline in March<\/h2>\n

Separately, the Commerce Department said that the trade deficit increased 7.2% to $64.2 billion in March as both imports and exports declined.<\/p>\n

Last month, imports fell 2.4% to $191.9 billion after a relatively similar decrease in February. In annual terms, goods imports plunged 9.6%.<\/p>\n

Exports dropped 6.7% to $127.6 billion.<\/p>\n

Hong Kong published<\/a> its trade data last Monday. Both imports and exports saw significant declines in March.<\/p>\n

The US is set to release the preliminary assessment of the GDP growth later today. Economists argue that the GDP likely contracted at a 4.0% rate in the three months to March, which would be the biggest contraction since the Great Depretion.<\/p>\n

Chris Rupkey, chief economist MUFG in New York, commented<\/a>:<\/p>\n

\u201cThe deeper the hole the economy digs, the harder it is going to be for consumers and businesses to climb back out.<\/em> World trade volumes are going to come off further this year which reminds us of the Great Depression.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

USD\/HKD remains unchanged 7.7501, after touching 7.7506 in the morning. The Hong Kong Dollar is pegged to the USD, which is why the pair is not volatile. However, the HKD is still one of the best performing currencies year-to-date. Today, the US dollar index slightly declined, as the American currency has lost ground against majors, […]<\/p>\n","protected":false},"author":163946609,"featured_media":5362,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1381],"tags":[1435,2706,1398],"class_list":{"0":"post-99562","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usd","8":"tag-consumer-confidence","9":"tag-hkd","10":"tag-usd"},"acf":[],"yoast_head":"\nUSD\/HKD Holds Steady at 7.7501, USD Index Declines - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103186-usd-hkd-holds-steady-at-7-7501-usd-index-declines\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anatol Antonovici\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103186-usd-hkd-holds-steady-at-7-7501-usd-index-declines\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103186-usd-hkd-holds-steady-at-7-7501-usd-index-declines\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c9c031720b5822c1d9bb63b59c6535ce\"},\"headline\":\"USD\\\/HKD Holds Steady at 7.7501, USD Index Declines\",\"datePublished\":\"2020-04-29T09:41:02+00:00\",\"dateModified\":\"2020-04-29T10:49:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103186-usd-hkd-holds-steady-at-7-7501-usd-index-declines\\\/\"},\"wordCount\":384,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103186-usd-hkd-holds-steady-at-7-7501-usd-index-declines\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100905-gbp-usd-dollar-dovish.jpg\",\"keywords\":[\"consumer confidence\",\"HKD\",\"usd\"],\"articleSection\":[\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103186-usd-hkd-holds-steady-at-7-7501-usd-index-declines\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103186-usd-hkd-holds-steady-at-7-7501-usd-index-declines\\\/\",\"name\":\"USD\\\/HKD Holds Steady at 7.7501, USD Index Declines - 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