On Friday, the evergreen buck was nearly intact in Asia having traded a bit higher earlier in the day in the face of upbeat mood of progress in China-US trade negotiations…
Australian dollar heads north on firm retail sales
On Friday, the Australian dollar managed to surge in Asia following Australia’s data of retail sales for November – the reading turned out to be better than anticipated.
As a matter of fact, sales in Australia tacked on by 0.4% month-on-month, in contrast with the 0.3% leap recorded in October. The given outcome is also above experts’ forecast of a 0.3% leap.
Besides this, the evergreen buck tumbled after Fed Chair Jerome Powell repeated that the major financial institution of America could afford being patient on monetary policy. By the way, on Thursday, Powell’s remark was echoed by Fed Vice Chairman Richard Clarida.
Evaluating the American dollar’s purchasing potential in contrast with its major rivals the USD index hit 94.933, losing 0.2%.
Some experts told that financial markets have already priced in that the US key bank won’t lift rates any further. They don’t expect the Fed to cut rates just to make the evergreen buck weaker.
Besides this, the currency pair USD/CNY slumped by 0.6% being worth 6.7460 due to the fact that China’s major bank set the Chinese Yuan reference rate at 6.7909 in contrast with the previous day's reading of 6.8160.
The China-US trade clash is still in focus after on Thursday Steven Mnuchin , US Treasury Secretary told that Chinese Vice Premier Liu He might come to Washington later this month. He added that he hopes that the US government shutdown won’t have an impact on the trade conflict between the two leading economies.
On Wednesday, America and China concluded the latest round of trade negotiations. As China’s Commerce Ministry revealed, talks with the opponent were detailed and extensive and both sides agreed to continue to be in touch.
Additionally, the currency pair USD/JPY dived by 0.1% being worth 108.29.
On Thursday, crypto assets generally traded sideways…
On Wednesday, the evergreen buck tacked on versus the common currency due to the fact the euro was suppressed by fears about the euro zone economy…
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…