Evergreen buck is near a two-week minimum

Evergreen buck is near a two-week minimum

On Wednesday, the key US currency traded near a two-week minimum against the pack of main assets after Chinese President Xi Jinping's pledge to cut import tariffs relieved concerns over the trade clash between the US and China.

On Tuesday, Chinese leader Xi Jinping pledged to open the Chinese economy and diminish import duties for products such as vehicles in his speech at the Boao forum. It’s viewed as an attempt to "neutralize" the growing trade conflict with the United States.

World stocks rose and oil prices increased by more than 3% on Tuesday, as President C's comments softened concerns about the risk of a trade war between the two largest economies in the world that could be fatal to global growth.

Improved sentiment about risk led to higher commodity prices and currencies in emerging markets, as well as to the growth of the US currency against the Japanese yen. The yen is an active refuge that attracts demand during times of economic uncertainty and vice versa.

The Australian dollar slightly lost its yesterday's positions after the publication of data on inflation in China, which was weaker in March than forecasts and the previous value.

According to the National Bureau of Statistics of China, the producer price index rose 3.1% on an annualized basis in March having leapt 3.7% in February. Economists expected inflation to grow by 3.2%.

The currency pair USD/JPY lost 0.07% being worth 107.11. Japan’s producer price index for March came in at 2.1%, which is in line with market expectations.

Additionally, the currency pair AUD/USD lost up to 0.13% reaching 0.7750. The Australian dollar responded to the downbeat Chinese inflation reports. China turns to be Australia’s largest trading partner, therefore the Chinese data can be a directional driver for the sentiment-linked commodity currency of Australia.




Latest news

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera