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Dollar rallies against currencies as trade optimism rises

2019-04-18 10:37 am | Resource: NEWS | No Views : 169

Dollar rallies against currencies as trade optimism rises

Dollar rose as Wall Street shares fell in the pre-trading market on Thursday morning ahead of earnings reports from Schlumberger, Philip Morris and Blackstone.

Earlier, Nestlé said it had achieved a 4.3% increase in sales for the first quarter of this year, while Unilever sales fell 1.6% in the same period. In the data, retail sales figures are scheduled before the opening bell.

Meanwhile, the Chinese Ministry of Commerce said that "new progress" has been made in negotiating the text of the trade agreement with the United States. US President Donald Trump said yesterday that trade talks with China are "moving forward" through a deal "very soon" without giving details.

Trump: Chinese trade deal is moving well

Speaking at the White House's "Opportunities Zones" conference on Wednesday, US President Donald Trump announced that the public would hear about the trade deal with China "very soon," without specifying the date of the agreement.

Trump said negotiations with the world's second-largest economy were "going well," adding that the United States was asking for "a lot of things." He said he felt the talks would be successful and that the agreement "would be beneficial to both countries." He added that the US economy has become "the hottest economy in the world" since taking office and began moving it "in the right direction."

Meanwhile, reports have emerged that Washington and Beijing may sign the new trade agreement as early as May. US Trade Representative Robert Laitser is scheduled to travel to the Chinese capital on April 29, while his Chinese counterpart Liu He is expected to visit Washington on May 6.

Trump-Xhi summit may be held in Japan in May 

A possible summit between US President Donald Trump and his Chinese counterpart, Xi Jinping, took place during the US leader's visit to Japan in May, CNBC reported, citing sources familiar with the issue. According to the report, Beijing is considering the Trump travel schedule to celebrate dates that may be suitable for a meeting between world leaders.

The sources claimed that the President's trip to Japan is also a suitable venue for the summit by the Trump Administration. The former US leader said his meeting with Shi might take place in either continent.

US Dollar Trading
  • The greenback was up against the euro at 0.38%, with the euro trading at 1.12522.
  • Against the pound, the greenback was up 0.28% to hit 1.3004.
  • The yen dropped to 1111.92 against the dollar, recording a 0.12%

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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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