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Dollar is rising against major currencies and anticipates the outcome of trade negotiations

2019-02-14 09:31 am | Resource: NEWS | No Views : 81

The dollar continued to rally strongly against major currencies as the euro and the pound fell to several-week lows against the dollar, which received a boost of data indicating a sustained strength in core inflation in the United States.

Risk appetite has been supported by growing expectations of a breakthrough in the US-China trade stalemate.

US President Donald Trump is considering extending an additional 60-day tariff truce with China if both sides are closer to a trade deal, according to Bloomberg sources. Trump has threatened to raise tariffs on Chinese goods by more than $ 200 billion from 10 percent to 25 percent from March 2, if no trade deal is reached. But Trump said on Tuesday he was open to extending the March 1 deadline to double tariffs on Chinese goods if countries came close to an agreement on deep structural changes in China's economic policies, although he added he was not inclined to do so.

China's dollar-denominated exports rose in January 2019

With exports from the world's second-largest economy returning unexpectedly to the start of 2019, while imports fell, a possible sign of strong external demand for Chinese goods.

China's General Administration of Customs announced a 9.1 percent increase in dollar-denominated exports in January, beating expectations of a 3.2 percent contraction, while imports fell 1.5 percent year-on-year, compared to expectations of a 10 percent decline. China's overall trade surplus was $ 39.16 billion in January, less than the December trade surplus of $ 57.06 billion.

The US dollar traded against the currencies
  • The dollar index, a measure of its value against its six major counterparts, rose to 97.02,
  • The EUR / USD was down 0.1% at 1.1249, the weakest since mid-November.
  • GBP / USD fell 0.14% to a one-month low of 1.2824.
  • The greenback was steady against the yen, with USD / JPY trading at 111.03.
  •   AUD / USD rallied 0.25% to 0.7105.

Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 18 March 2019

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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