Dollar diverged after reports on the willingness of the United States and China to outline the trade agreement
2019-02-21 11:10 am | Resource: News | No Views : 68
The Dollar's performance diverged in European trading as US equities futures traded in the green zone during pre-sale trading on Wall Street on Thursday as investors focused on the next round of trade talks between Washington and Beijing, which is due to start later today.
At the same time, market observers have digested the latest report that there has been a breakthrough in the negotiations and that the two sides are expected to hold additional talks over the next three months on the basis of agreements reached in Washington this week.
The United States and China are preparing a broad trade deal
- Trade representatives from the United States and China are gathering several memorandums of understanding in a bid to reach a trade deal, media reports said on Thursday. The memos purport to cover a range of issues, from intellectual property to tariffs.
While "no major breakthroughs in key structural issues are expected" during the trade negotiations this week, an unnamed source said Bloomberg said the March 1 deadline for trade tariffs could be delayed as Vice Premier Liu met with US President Donald Trump. The source added that there is currently no clear enforcement mechanism for the items listed in the notes, but "the threat that may be recharged" could be part of the deal.
Wall Street futures go up
- The Dow Jones Industrial Average rose 0.16% at 12:26 CET.
- The S & P 500 rose 0.15% at the same time
- While the Nasdaq 100 rose 0.19%.
Pelosi: US House of Representatives moves quickly to lift emergency
US House Speaker Nancy Pelosi has backed a bill designed to prevent the emergency declaration of President Donald Trump's declaration, according to a letter to both Democrats and Republicans urging them to stand behind the proposal.
Pelosi said: "I write the call to call all members of Congress to rely on the outstanding decision of Congress, Joaquin Castro to end this emergency declaration," adding that the House of Representatives "will move quickly to pass the bill." She noted that the US president's decision to "go beyond the limits of law" to achieve what he failed to do, "violates the Constitution and must be terminated."
Pelosi confirmed earlier reports that Democrats in the House are expected to present a bill on Friday aimed at disrupting the Trump National Emergency Declaration.
The US dollar traded against the major currencies
- The euro dropped 0.08% against the US dollar to sell at 1.1330 at 12:27 CET.
- The British Pound was up against the US Dollar at 0.17%, with GBP / USD trading at 1.3070.
- The greenback remained almost unchanged against the yen, where the yen traded at 110.77.
- Against the Canadian Dollar, the greenback was up 0.09% and the Canadian dollar was trading at 1.31.90.
- The US dollar rose against the Australian counterpart by 0.11% and the Australian dollar was trading at 0.7101.
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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