country flagالعربية

Dollar fell in early trading as trade concerns returned

2018-12-04 09:15 am | Resource: News | No Views : 154

The dollar fell on Tuesday in early trading with comments by US Secretary of State, Jerome Powell, in which he said the US economy still had to face some challenges as traders fled the US currency in favor of risk-sensitive currencies amid trade concerns between the United States and China.

In Asian trading, the Reserve Bank of Australia kept the official rate unchanged for the 28th consecutive month at 1.5% as expected.

Remarks by Jerome Powell

Federal Reserve Chairman Jerome Powell said that despite strong economic progress, the United States still faces a number of challenges, including slower wage growth and weaker productivity. Speaking at a ceremony at the bank, Powell said that despite recent increases in wage growth, incomes for low-income workers have grown very slowly over the past few decades.

He added that challenges remained, although unemployment was near its lowest in five decades and the strength of the financial system since the 2008 global financial crisis.

 Russia proposes to Argentina to dispose of the dollar to an American

In other news, Russia has proposed to Argentina to shift from the US dollar to its national currencies when making transactions between the two countries.

"We propose that we actively participate in their efforts not only with [the Argentineans], but also with our other partners, and switch to payments in national currencies, including the ruble peso," said the Russian ambassador to Argentina Dmitryvikostiov Sputnik. That the Russian bank opens an office in the South American country.
  • The US dollar index, which tracks the greenback against a basket of other currencies, traded at 96.667, down 0.31%.
  •  The Aussie dollar was up 0.2% at 0.7375
  • The New Zealand dollar / US dollar was up 0.5% at 0.6961.
  • The USD / JPY pair fell 0.6% to 6.8420 following the trade news.
  • The yen was also higher against the US dollar, with USD / JPY shedding 0.5% to trade at 113.11.

Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.