Greenback goes down, as trade fears flare up

Greenback goes down, as trade fears flare up

On Monday, the evergreen buck declined versus its counterparts on worries of an escalation in the US-China trade conflict, while a stronger UK currency and euro also put pressure on market sentiment.

Tracking the greenback’s purchasing potential versus its main rivals the USD index went down by about 0.46% being worth 94.07.

American leader was generally anticipated to announce another 10% duties on $200 billion in China’s products, although some told that the administration decision to decrease levies had tame worries of a full-fledged trade conflict.

The fresh 10% duties are below an original reading of 25% imposed by the presidential administration earlier. Another round of duties shows up a week ahead of another round of trade negotiations between American and China. The Asian country pledged to come up with countermeasures if American proceeds with its initiative to impose levies.

The currency pair AUD/JPY managed to ascend by up to 0.36% being worth 80.45. At the same time USD/JPY dipped by about 0.07% trading at Y111.97.

Australia’s economy relies mostly on exporting raw materials, especially to China that accounts for nearly a third of Australian exports annually.

Market participants are still edge in the face of further trade clashes after Trump promised further levies on trade partners who are unable to make fair deals.

A stronger UK currency also kept the evergreen buck in the red because market participants appreciated reports of upbeat remarks on Brexit from the European Council.

The currency pair GBP/USD jumped by up to 0.60% trading at $1.3149.

The currency pair EUR/USD added by 0.59% showing $1.1691 in the face of in-line consumer inflation data as well as optimism Italy is going to deliver a budget within the EU guidelines.

The currency pair USD/CAD went down by 0.08%.

 

 

Similar

How to trade the JPY?
How to trade the JPY?

Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:

USD and GBP Traders Await Big Moves
USD and GBP Traders Await Big Moves

The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.

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

Increased Volatility is Coming
Increased Volatility is Coming

The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

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.

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.

Callback

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