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Dollar decline as risk of trade war rises after Chinese pledges

2019-08-02 12:20 pm | Resource: News | No Views : 139

 Dollar decline as risk of trade war rises after Chinese pledges

The US dollar fell against its major counterparts in the early European session on Friday, ahead of today's US jobs report, as jobs are expected to rise by 164,000 jobs in July after a 224,000 increase in June.
Unemployment is expected to remain at 3.7 per cent.

Return of ghost trade war

The US-China trade dispute intensified after Beijing threatened to impose countermeasures if Washington continued to raise planned tariffs. China's Ministry of Commerce said it would take appropriate countermeasures to defend firmly its core interests. The Beijing Declaration came in response to Trump's decision to impose a 10% tariff on $ 300 billion of Chinese imports from September 1. Additional charges will cover all goods imported from China to the United States.

Trump's decision came after the suspension of trade talks in Beijing, where the US president blamed Chinese President Xi Jinping for breaking his promise to buy US agricultural goods.

President Donald Trump's announcement yesterday that new tariffs on Chinese imports could prompt the Fed to take another curve that could force it to cut interest rates more than it had hoped to protect the US economy from the risks of trade policy. "This step increases the risk that the Fed will cut interest rates by more than 75 basis points in gross terms this year," Deutsche Bank chief economist Britt Ryan said in a note to customers.
 
 
Dollar trading against currencies
 
  • The dollar fell to a two-day low of 1.1115 against the euro.
  •  The Dollar fell to an eight-day low of 0.9853 against the Swiss Franc.
  • The dollar fell to 106.79 against the yen for the first time since June 25.
  • The dollar fell to 1.2135 against the pound, from an early high of 1.2089.
  •  The dollar rose to a seven-month high of 0.6786 against the Australian dollar
  • The dollar rose to a one-and-a-half month high of 0.6523 against the New Zealand dollar,
  • The dollar rose to 1.3231 against the Canadian dollar, after falling to 1.3205. 


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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

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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