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Dollar weakened as the outcome of US-China trade talks awaited

2019-09-20 12:22 pm | Resource: News | No Views : 54

Dollar weakened as the outcome of US-China trade talks awaited

The dollar traded lower against the currencies as traders were also wary of looking for riskier assets awaiting developments on the trade front. The Fed cut its target overnight rate by a quarter percentage point on Wednesday, to a level of 1.75% to 2.0%, to offset slowing global growth and the risks partly associated with President Donald Trump's trade battles with China.

This was the second Fed rate cut this year. But Pollard wanted a further cut, pointing to continued inflation and weak issues in the bond market as well as a possible economic slowdown. Bullard said in a written statement issued on Friday morning that the rate cut "will provide insurance against further declines in expected inflation and a slowdown of the economy subject to the risk of low side." "It is wise to manage risk, in my opinion, to cut interest rates aggressively now and then increase it later if negative risks are not realized."

Wall Street trades higher after new customs exemptions

Wall Street traded on the pre-Friday market, the second day of US-China trade talks held in Washington, DC.

At present, China and the United States have made good-faith gestures aimed at laying the groundwork for fruitful talks. US President Donald Trump has postponed raising tariffs on some Chinese goods until October 15, and China has raised tariffs on some US products and medicines. In the latest move, Washington exempted 437 Chinese products from incoming tariffs. Investors will also absorb comments from central bankers during the day.
  • At the beginning of the pre-market, the Dow Jones Industrial Average rose 0.16%
  • The Nasdaq 100 rose 0.17%.
  • The S&P 500 rose 0.15% from the flat line.

Major currency trading
  • The dollar index, which fell to 98.14 to 98.32, rose marginally from the previous close.
  • The Euro was steady against the Dollar at 13:17 AM CET, trading against $ 1.10395.
  • Against the Japanese currency, the dollar was steady at 107.98 yen. at the same time .
  • The US currency fell 0.12% to 0.991 Swiss francs, at 01:51 pm Mecca time.

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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