The dollar was mixed against the majors at the close of weekly trading
2019-03-08 12:01 pm | Resource: NEWS | No Views : 63
The dollar was mixed on Friday as Wall Street stocks continued to slide in markets before Friday as uncertainty over trade and negotiations on the UK pullout from the EU drove investors away from equities and more towards precious metals. Non-farm employment data and housing starts were announced in the United States before the market opened.
There is no date yet, preparations for the summit of the United States envoy Shi Trump
Washington and Beijing did not set a date for the upcoming summit between US President Donald Trump and his Chinese counterpart Xi Jinping, US ambassador to China Terje Pranstad (pictured to the left) and told the Wall Street Journal on Friday. The US envoy failed to prepare for the meeting on his way, Trade is "long and difficult" where both sides need to resolve "a large majority of issues" before the planned summit.
Earlier, a report showed that Chinese officials are concerned that they may not be able to reach a trade deal with the United States despite progress in the negotiations as they expect Washington to make unfavorable final terms.
The White House presented an unbalanced budget on Monday
The White House will unveil an unbalanced budget next Monday that should set a course for Congress to begin work on spending legislation for the next fiscal year, CNBC reported on Friday, citing two people familiar with the issue. It is said that the proposed budget will not balance revenues with federal government spending, despite optimistic growth forecasts and sharp cuts in discretionary programs outside the Pentagon.
According to earlier reports, US President Donald Trump will ask for sharp cuts in domestic spending levels, including a "historic" 5% drop in discretionary spending, a plan that congressional lawmakers are expected to oppose. At the same time, Trump will also push up defense spending by avoiding budget limits through war contingency plans. The White House's new budget plan is widely expected to produce another battle for government funding and a possible new government closure next fall.
- The euro rose 0.32% against the dollar, trading against $ 1.12176
- The British pound was up 0.06% at $ 1.30813 at the same time.
- The greenback was down against the yen at 0.09%, with the pair trading at 111.18.
- The Canadian dollar traded steady against the US dollar at 1.3462.
- Against the Australian dollar and the New Zealand dollar, the greenback was down 0.25% and 0.60%, respectively.
Time frame Used - four hours The USDJPY is moving in a sideway direction in the near term. the USD/JPY was able to hold steady at 111.12 to rebound slightly to 111.90 as it faces some selling pressure around this level , but it is still above the Bollinger’s moving average line. In view of the technical indicators Both the RSI and Stochastic are indicators to weakness of the indicators.…
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