On Friday, the evergreen buck rallied versus its counterparts reacting to a rebound in American home sales, although profits were tamed by a steep soar in the Japanese yen as American government bond gains dived in the face of worries of the decelerating…
Evergreen buck goes down amid US-China trade negotiations
On Tuesday, the evergreen buck declined on reports that America and China are moving to the next stage of their trade negotiations.
Besides this, the UK currency remained near its 20-month low versus the greenback after British Prime Minister Theresa May dared to call off Tuesday’s vote on her Brexit agreement, so she could return to Brussels to ask for changes to this stuff.
The move applied pressure to the UK currency because financial markets judged the risk of no-deal Brexit has surged.
As a matter of fact, the USD index tumbled by 0.1% showing 97.058 after Reuters informed that US Treasury Secretary Steven Mnuchin, Trade Representative Robert Lighthizer along with Chinese Vice Premier Liu He had a telephone conversation, discussing the roadmap for the next stage of their trade negotiations.
The conversation shoed up after American leader Donald Trump and his Chinese counterpart Xi Jinping made up their mind to suspend the planned increase of January 1 American levies from 10% to 25% on $200 billion of China’s products.
Nevertheless, the tension between the two leading economies was still high especially after the detaining of CFO at China’s Huawei Technologies the previous week.
The currency pair USD/CNY dived by 0.2% ending up with 6.9033 because the People's Bank of China set the Yuan reference rate at 6.8996 against yesterday’s settlement of 6.9099.
Besides this, the Indian rupee bounced off after the country’s key financial institution sold the American dollars via the state-run banks for the Rupee at about 72.35.
Reuters also informed that Urjit Patel, Reserve Bank of India Governor resigned suddenly on Monday following a months-long tussle over policy with the cabinet.
The currency pair USD/JPY went down by 0.3% trading at 113.03.
Moreover, AUD/USD and NZD/USD both headed north by 0.2%.
On Friday, the UK pound revived in Europe trade from Thursday’s buffeting when the EU admitted only a minimal extension of the deadline for Brexit…
Canada will release the level of core retail sales and CPI on March 22, at 14:30 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…