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Dollar rises against major currencies after attacks on Aramco

2019-09-16 01:47 pm | Resource: News | No Views : 44

 Dollar rises against major currencies after attacks on Aramco
 
The dollar rose against the major currencies with the opening of the weekly markets on Monday after attacks by the Houthis on Saudi Aramco, which caused severe damage and raised levels of global concern

Trump calls for federal stimulus amid jump in oil prices

US President Donald Trump said on Monday that high oil prices and economic data from China point to the need for US stimulus. He blamed the US Federal Reserve for not cutting interest rates, adding that the move was hurting US exporters.

Trump said: "Producer prices in China have shrunk dramatically in three years due to the devaluation of the Chinese currency, along with monetary stimulus. The Fed is not watching? Will the Fed continue the game? The dollar is stronger than ever! ... the US is losing, because of the Fed, a much higher interest rate than other competitors, and they can't believe how lucky that Jay Powell and the Fed are! ”

Gold prices rise due to geopolitical tensions

Gold prices rose on Monday as weak data from China and attacks on Saudi oil facilities boosted demand for safe-haven bullion.

Investors are also awaiting evidence of monetary easing from the Federal Reserve, the Bank of Japan, the SNB and the Bank of England this week. Spot gold rose 1 per cent to $ 1503.70 an ounce, after falling 1.2 per cent last week amid optimism about a possible breakthrough in the US-China trade impasse. US gold futures rose 0.75 percent to $ 1,510.75 an ounce.

Oil prices jumped earlier this week after an attack on Saudi oil infrastructure and Chinese data showed that the country's industrial output was the slowest in 17 years while retail sales rose 7.5% in August. The Federal Reserve is to announce its interest rate decision later this week.

Major currency trading

 • The dollar index, which tracks the performance of the dollar against a number of major currencies, rose 0.31% to settle at 98.54 points.
• The euro fell against the dollar to trade the euro dollar at 1.10224 levels.
GBP / USD fell 0.45% to trade at 1.24478.
• The dollar fell against the Japanese yen, which represents a safe haven to settle at 107.88 levels.
• The US dollar fell against its Canadian counterpart to 1.3253 levels.


Other analysis

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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