Dollar fell against major currencies as trade tensions returned
2019-05-16 10:17 am | Resource: News | No Views : 55
The dollar traded lower during morning trade during European trading on Thursday as the strong rise in trade tensions returned with Trump signing an executive order to protect US networks from Hawaii spy.
US equity futures are little changed
While European stocks traded modestly in the red zone on Thursday after the opening bell, New York stock markets were looking to start almost, according to initial indicators. There were only minor movements in exchange rates and precious metals. Oil has risen moderately, reflecting rising tensions in the Middle East, where the United States has decided to build its military capability and warned Iran of possible conflict.
Widman: Business Wars Know Only Losers -
German central bank chief Jens Weidmann said on Thursday that the opening of the German economy makes it particularly vulnerable to trade disputes, adding that the country is not sufficiently prepared to challenge digitization and the burdens of aging society.
Commenting on the ongoing trade war between Washington and Beijing, Weidman argued that it would affect Germany "to a lesser extent," although the US tariff on automakers would hurt manufacturers too much. The official said in his warning that further escalation would destabilize the world's two largest economies, saying economic performance had already fallen by 0.5 percent.
"The retaliatory tariffs of other countries are likely to further weaken the global economy and world trade: trade wars only know losers," Faidman concluded.
China has denied plans to visit an American trade delegation after the Treasury Department in Washington said Minister Steve Menuchin would soon be heading to continue bilateral negotiations.
In the pre-market opening trade, the Dow Jones industrial average fell just 0.04%. The Nasdaq 100 and the Standard & Poor's 500 also fell marginally.
Dollar trading against major currencies
- The dollar index, which measures the performance of the greenback against a basket of major currencies, stabilized at 97.52 points
- The dollar dropped to 1.1209 against the euro.
- The dollar remained unchanged at 1.0089 against the Swiss franc.
- The greenback was down against the yen 0.01% to trade at 109.60 against the yen.
- The greenback was up against the pound at $ 1.2826.
- Against the Australian Dollar, the US Dollar was down 0.02% to trade at 0.6926.
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…
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