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The Dollar was mixed against major currencies after Trump tweets

2018-12-05 12:00 pm | Resource: News | No Views : 43

The dollar held steady against a basket of currencies on Wednesday as fears of a Sino-US trade war grew as Trump threatened through a series of tweets, shaking investor confidence in a full resolution of the US-China trade dispute during a 90-day trade truce.

 In other news, German government spokesman Stephen Seibert said Wednesday that talks between the United States and the country's auto giants were separate from trade negotiations.

The leaders of Volkswagen AG, BMW A and Daimler AG arrived in Washington yesterday for meetings with administration officials. Sybert said the talks had a "common background" and were characterized by a "good atmosphere".

After a meeting with US President Donald Trump yesterday, Volkswagen CEO Herbert Des talked about plans to invest in the United States, including a factory for making electric cars. The White House said the main topic of discussion was US investment opportunities.

The Dollar traded on a minor change on Wednesday
  • The dollar index, which measures the strength of the dollar versus a basket of six major currencies, stabilized at 96.93 levels.
  • The greenback was slightly higher against the yen, with USD / JPY rising 0.2% to 112.99.
  • The Euro was mixed against the US Dollar, with EUR / USD trading at 1.1338.
  • The British Pound was up against the US Dollar, with GBP / USD gaining 0.13% to hit 1.2732.

Other analysis

USD/JPY Technical analysis 14 December 2018

Time frame Used - four hours The USDJPY is moving in a bullish direction in the near term. The USDJPY faced resistance and selling pressure nearly of the resistance level of 113.58 to retract to the support level 113.20 Then start to bounce back again. In view of the technical indicators Both the RSI and the Stochastic are indicating signs of recovery. Therefore, we expect that the USDJPY will test…

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