Afshin Sazegar | US dollar after contradictory statements on trade weaker


Afshin Sazegar | US dollar after contradictory statements on trade weaker

Afshin Sazegar | The US dollar did not make a good start to the Thursday - already in the Asian currency trading, it went into the downside. Conflicting statements in the trade dispute between the US and China weigh on sentiment.


US President Donald Trump said Wednesday that trade talks with China are "very good". On the other hand, he said the day before that it would be better to wait until after the US presidential election with a trade agreement.


Markets had rebounded on Wednesday after news of the ticker hit Washington and Beijing approaching a trading agreement.


"And I thought the markets would have stopped ignoring trade war headlines - but obviously not," said Ray Attrill, head of the currency strategy at National Australia Bank. "A new day, a new turnaround of what happened the day before."


If the US and China do not come to an agreement soon, the next important date is December 15. On this day, the planned US punitive tariffs on Chinese goods should enter into force.


Price movements in the currency markets were limited. The dollar was 108.86 yen, while the Swiss franc advanced to 0.9879 dollars.


The Euro was $ 1.1083, slightly higher than the day before and the U.S... Dollar Index fell 0.1%.


German orders fell unexpectedly in October. Thus, it is clear that the manufacturing industry of the largest economy in the eurozone is still in a deep industrial crisis.


The British pound has risen to its highest level in eight months, fueled by hopes that Prime Minister Boris Johnson will reach a majority vote next week so that Britain can leave the EU on January 31st.


On the economic side, there are still some important US data on the agenda this afternoon: the number of initial applications, new orders, layoffs, and the trade balance. Tomorrow, the official US employment report will be highlighted.


The Australian dollar dropped to $ 0.6843 after weaker-than-expected retail sales.


For the New Zealand dollar, however, it was high to 0.6536. The kiwi was boosted this week by a rebound in domestic business sentiment, while expectations of further monetary easing have eased.


The Reserve Bank of New Zealand lifted bank capital requirements on Thursday, but not as strong as some investors feared.


Afshin Sazegar

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