Evergreen buck rallies on US-China trade deal expectations

Evergreen buck rallies on US-China trade deal expectations

On Monday, the evergreen buck jumped reacting to news that China and America were close to making an agreement to finish a long lasting trade conflict.

On Sunday, the Wall Street Journal informed that the US cabinet could raise most or all of its levies on China’s goods, while a summit between Donald Trump and his Chinese rival Xi Jinping to sign a final trade agreement could occur later this month.

It followed remarks from Trump the previous week that he had asked Beijing to immediately remove all duties on American agricultural products because trade negotiations were progressing well.

Assessing the purchasing potential of the evergreen buck versus a number of its primary counterparts the USD index accounted for 96.51, demonstrating its best outcome since February 22.

Investors looked past remarks from American leader who told that the major US bank’s tight monetary policy was contributing to a firm greenback and affecting America’s competitiveness.

Versus the Japanese yen, the evergreen buck surged to 111.93, which is not far from Friday’s maximum of 112.07.

The common currency went down by 0.3% hitting $1.1336, which is the lowest value since February 25. Financial markets are closely watching the ECB’s monetary policy gathering later this week for further clues on whether it intends to have its Targeted Long-Term Refinancing Operation relaunched or not.

In addition to this, the UK pound gained support on easing worries that the United Kingdom will leave the EU without a deal after Prime Minister Theresa May told the previous week UK lawmakers would vote on a delay to Brexit if they decide not to approve her withdrawal pact.

Eventually, the UK pound rallied by 0.2% hitting $1.3238, making its way towards its eight-month maximum of $1.3351 recorded the previous week.


What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

Deposit with your local payment systems

Feel the Team Spirit

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