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The US dollar is seeing a decline in fears about the trade war

2018-11-02 11:34 am | Resource: News | No Views : 77



The dollar fell again weekly gains on Friday, with news that President Donald Trump spoke with Chinese President Xi Jinping increased investor appetite for high-risk assets and traders are waiting for job data later in the session.

News of a decline in trade tensions helped stocks rise, after a difficult month in global stock markets.

Wall Street is expected to open higher ahead of job data

Markets in the US are due to open in the Green Zone on Friday as investors focused on upcoming job data ahead of the opening bell. At the same time, investment incentives were also higher amid hopes that the United States and China could conclude a trade deal and the two sides were close to reaching an agreement. Meanwhile, the earnings season continued with ExxonMobil, Alibaba and Chevron due to the release of corporate results ahead of the opening of the Wall Street market.

The Dow Jones Industrial Average was up 0.86% at the open, with the benchmark index up more than 200 points. The Nasdaq 100 was expected to rise by 0.25%, while the S & P 500 was seen at 0.68% in the Green Zone.

Dollar Trading

  • The US dollar index fell 0.17% to 96.11 from 8:59 GMT
  • The USD / JPY was up 0.15% at 112.88.
  • The USD CAD was down 0.25% at 1.3054.
  • The EUR / USD was up 0.22% at 1.1432.
  • GBP / USD was up 0.09% at 1.3025
  • The AUD / USD rose 0.40% to hit 0.7235
  • The New Zealand Dollar / US Dollar was up 0.12% at 0.6663 against the Dollar.


Other analysis

USD/JPY Technical analysis 16 November 2018

Time frame Used - four hours The USDJPY is moving in a bearish direction in the near term. The USDJPY managed to control movement  the USDJPY to break the support level around the 113.58 level  down to hit the 113.07 level forming a positive candlestick pattern to bounce back above to test the 113.58 level especially after the release of the US Retail Sales report which showed growth and a…

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