The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
China will reduce consumer product tariffs and lift financing to spur imports
China is on the verge of lowering tariffs and stepping up bank financing just to back more imports as the Asian country's huge trade surplus has rather a negative impact on its citizens, as commerce ministry officials unveiled on Thursday.
China faces an enormous trade surplus and it has been accused by other countries including America of protecting domestic companies using unfair trade practices such as high import tariffs.
Donald Trump is braced for coming to China next week. The trade relationship is believed to be a key topic of discussion.
China is going to reduce import tariffs on consumer products and also encourage financial institutions to expand import financing, and intensify imports of advanced technological equipment as well as key components.
On Wednesday, Trump labeled the US trade deficit as “terrible” and "embarrassing" ahead of an trip to Asia.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…