On Wednesday, the euro and British pound approached their five month-lows after the disappointing economic reports…
Greenback is nearly intact, hovering over 1-week minimums vs. counterparts
On Tuesday, the major American currency was nearly intact versus other crucial counterparts, hovering over a one-week minimum as market participants were still digesting the previous week's news of probable American duties on aluminum as well as steel imports.
Market participants were still cautious because American President Donald Trump was under great pressure to give up an idea of imposing aluminum and steel duties.
However, Trump’s response was to step up pressure on Canada and Mexico, telling he would raise planned duties on steel imports if they dare to sign a fresh version of the North American Free Trade Agreement.
The duties, uncovered the previous week, had rekindled worries over a potential trade conflict, which would have an adverse impact on the American economy.
Estimating the greenback’s value versus a group of six crucial currencies, the US dollar index didn’t change, sticking with 89.92.
The common currency and the British pound didn’t change, with EUR/USD being worth 1.2341 as well as GBP/USD hitting 1.3847.
Market sentiment on the common currency turned to be fragile in the face of worries over Sunday’s inconclusive Italian election outcomes.
Besides this, the Japanese yen managed to strengthen, with USD/JPY sliding 0.21% reaching 105.99 and USD/CHF was intact, demonstrating an outcome of 0.9399.
The Japanese yen demonstrated minor reaction after Bank of Japan Chief Haruhiko Kuroda told that there were some downside risks to the major financial institution’s projection that inflation would hit its 2% objective by 2020.
The previous week the Japanese yen had soared after Kuroda told that the Bank of Japan would talk about an exit from monetary easing in case of meeting its inflation objective.
As for the Australian dollar, this commodity currency didn’t change, with the currency pair AUD/USD hitting 0.7759.
On Tuesday, the evergreen buck traded below the five-month maximum, taking a breather after the soar underpinned by soaring yields on US government bonds as well as easing tensions in US-China trade relations…
On Monday, the greenback kept soaring against the euro, yen as well as many other currencies amid the easing of fears of a trade conflict between China and the United States and a soar in the yield of US Treasuries…
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…