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Dollar heading for a 2-week low against the euro after Trump comments

2019-08-05 03:03 pm | Resource: News | No Views : 68

الدولار يتجه لأدنى سعر في أسبوعين مقابل اليورو بعد تصريحات ترامب

The single currency rose in the euro zone on Monday, reaching its highest level against the dollar since July 23. It also rose against the pound to a 11-month high.

Trade tensions intensified earlier in the day as US President Donald Trump called on China to cut its currency, the yuan, which fell to its lowest level in more than 11 years.

Private sector growth in the US declined for July

On the data level, the final figures of the monthly survey conducted by EHSMarket with US corporate purchasing managers showed that service expansion was stronger than initial estimates. The sector index rose to 53 points in July from 51.5 compared to 52.2 points from flash data. The composite purchasing managers' index rose 1.1 points to 52.6 or a full point more than in the initial report. A 50-point mark separates growth from contraction or recession.

 ISM: US Non-Manufacturing Activity at 3-Year Low in July

Non-manufacturing sector growth slowed in July from June to 53.7%, below expectations and a three-year low, according to the Supply and Management Institute report published on Monday. In the previous month, the figure was 55.1%.

The new orders index fell by 1.7 percentage points from June to 54.1 percent, with the production index dropping 5.1 percentage points to 53.1 percent. The report showed that the employment index added 1.2 percentage points to 56.2%. The price index fell to 56.5%, indicating a contraction of 2.4 percentage points. At the same time, the stock index fell 5 percentage points to 50.0%.

Euro Trading
  • At 4:30 pm CET, the Euro rose 0.75% against the GBP, trading against GBP 0.92020 which has been unseen since early September 2018.
  • Meanwhile, the Euro jumped 0.74% against the US currency, trading at $ 1.11902 at 4:32 pm CET.

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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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