Dollar Edges Higher as Virus Fears Ease; Euro Weakens By Investing.com



Investing.com – The U.S. dollar is showing some strength against the safe haven Japanese yen Friday as a degree of calmness returns to traders who have fretted all week over the new pneumonia-like virus in China.

By 02:50 ET (0750 GMT), the dollar had climbed 0.1% against the yen, with trading at 109.54. The Futures, which tracks the greenback against a basket of other currencies, edged up 0.1% to 97.53.

Elsewhere, the euro has shown weakness after the European Central Bank indicated no immediate movement from its current monetary policy stance at Thursday’s meeting. President Christine Lagarde told Bloomberg Friday insisted that the bank is not on “autopilot” but others were skeptical.

“As long as the economy rebounds as expected, with a stimulus already in the pipeline, the ECB will likely hold off any major policy adjustments until it has completed its policy review,” Berenberg Bank chief economist Holger Schmieding said in a research note.

“The ECB will still closely monitor inflation, highly accommodative monetary policy is still needed, and the ECB stands ready to use all instruments. In other words, the easing bias remains in place,” said analysts at Nordea in a research note.

“The EUR is not about to receive support from the ECB policy any time soon,” they added.

At 02:50 ET (0750 GMT), traded 0.1% lower at 1.1048 and down 0.1% at 0.8417.

Overnight, The number of cases of patients infected with the new virus as of January 23 has gone up to 830 in China, while the death toll from the virus has risen to 25, the National Health Commission announced on Friday.

Late Thursday, the World Health Organization stopped short of calling the virus a global health emergency, even as the number of cases of patients infected with the new virus topped 800 in China, with the death toll rising to 25.

“Make no mistake, this is an emergency in China, but it has not yet become a global health emergency,” Tedros Adhanom Ghebreyesus, the WHO’s director-general, said at a briefing in Geneva Thursday.

President Christine Lagarde’s comments did not imply any increased reservations towards using any of the tools at the ECB’s disposal, the note said. “If downside growth risks increase again in the coming months, as we expect, the market should not have any problems pricing in a higher risk of further stimulus measures.”

With the outlook for growth being so important in the ECB’s eyes, traders will focus on the various PMI data due for release Friday, and in particular the German number, due at 3:30 AM ET (0830 GMT).

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Dollar Gains as U.S. Services Activity Hits Highest Since March By Investing.com


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By Yasin Ebrahim

Investing.com – The dollar climbed against its rivals Friday as data showing ongoing strength in the U.S. services sector offset a continued slowing in manufacturing to a three-year low.

The , which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.18% to 97.87.

The IHS Markit flash purchasing managers index for manufacturing slipped to a three-month low in January, but the services PMI rose to the highest level since last March.

Strength in the greenback was also supported by plunge in the pound and euro.

fell 0.29% to $1.308 and more losses could follow when trade negotiations between the U.K. and the EU begin after the U.K. leaves the trading bloc on Jan. 31, said Jane Foley, senior foreign-exchange strategist at Rabobank.

“Once those negotiations get underway in February and March, some of us could be in for a rude awakening,” Foley added.

fell 0.20% to $.1013 shrugging off better-than-expected PMIs from Germany amid expectations that the European Central Bank is set to persist with negative rates at least until the end of the year.

fell 0.21% to $109.26 as the yen was supported by an uptick in safe-demand after the CDC confirmed that a second case of the coronavirus had been identified in the U.S.

rose 0.18% to C$1.315 as oil prices continued to retreat on fears that a continued spread of the virus could dent air travel, keeping a lid on oil demand.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Dollar Edges Higher on Bullish Housing Data By Investing.com


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Invesing.com – The dollar edged higher against its rivals Wednesday, as bullish housing data strengthened expectations that the U.S. economy will remain on solid footing.

The , which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.06% 97.58.

The National Association of Realtors said rose 3.6% to a 5.54 million annual rate. That was the strongest pace of growth since February 2018.

Lawrence Yun, chief economist at the National Association of Realtors, attributed the higher level of housing activity to strong job creation, high consumer confidence and low mortgage rates.

A sharp uptick in the pound, meanwhile, kept the dollar on the backfoot as positive U.K. economy data cooled expectations that the Bank of England will cut rates at the end of the month.

rose 0.59% to $1.312.

But some analysts see limited upside for cable, arguing that seasonal factors will likely weigh on the sterling.

“There is little evidence so far of a broad based rebound in sentiment following the general election plus seasonal factors tend to weigh on GBP through February and March,” Bank of America said.

With just a day ago until the European Central Bank meeting, the euro was largely flat against the dollar at $1.109.

rose 0.62% to C$1.315 after the Bank of Canada kept its benchmark rate on hold, but left the door open to a future rate cut, saying that it will monitor data to gauge whether the recent slowdown in domestic growth has accelerated.

“Today’s statement makes us more comfortable with our call for a rate cut in April, and market odds of a move by mid-year are now slightly above 50%,” RBC said

The was also knocked by a fall in oil prices after the International Energy Agency warned of a surplus in oil supplies by 1 million barrels per day in the first half of this year.

was flat at Y109.87 on subdued safe-haven demand despite reports that the death toll from the Coronavirus had increased to 17, raising fears of contagion.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Dollar Calm; Retains Strength Against Main Rivals By Investing.com


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Investing.com – The U.S. dollar was largely flat in European trading Monday, with the U.S. holiday providing little incentive for traders to take risks. That said, the greenback still looks strong against its main competitors.

At 03:35 ET (0835 GMT), the Futures, which tracks the greenback against a basket of other currencies, was essentially flat at 97.40. traded flat at 110.15, at 1.1095, up 0.1%, and at 1.2979, down 0.2%.

Figures released by the Commerce Department on Friday showed U.S. housing starts in December were well above economists’ estimates for 1.38 million and were the biggest gain in 13 years.

Retail sales were also on the rise and a gauge of manufacturing activity rebounded to its highest in eight months.

The positive data reduced chances that the Federal Reserve would slash rates when it meets later this month.

The European Central Bank and the Bank of Japan are also not expected to make any changes in their first policy meetings of the year this week, but the Bank of England is widely expected to cut rates in the near future.

The dollar story is staying firm in the G3 space, analysts Chris Turner, Petr Krpata and Francesco Pesole at ING, said in a research note. “Talk of a Republican Tax Cut 2.0 may cement that trend – at least in the G3 space. US macro weakness looks less of a concern now, but the market will soon turn to U.S. election risks – especially were (Elizabeth) Warren or (Bernie) Sanders to win the Democratic nomination.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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U.S. Dollar Little Changed, AUD/USD Pair Rises Ahead of Jobs Data By Investing.com


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By Alex Ho

Investing.com – The U.S. dollar was near flat on Monday in Asia, while the Aussie dollar gained ahead of the release of the country’s latest jobs data.

The U.S. dollar index was near flat at 97.365. Figures released by the Commerce Department on Friday showed U.S. housing starts in December were well above economists’ estimates for 1.38 million and were the biggest gain in 13 years.

Retail sales were also on the rise and a gauge of manufacturing activity rebounded to its highest in eight months.

The positive data reduced chances that the Federal Reserve would slash rates when it meets later this month.

Meanwhile, the pair rose 0.2% to 0.6886 as traders awaited Australian jobs data due on Thursday. The Reserve Bank of Australia meets next month and might announce further stimulus following three rate cuts last year amid widespread bushfires.

The pair also rose 0.2% to 0.6620.

The gained 0.2% against the U.S. dollar after jumping late last week on strong economic growth figures. China reported that its gross domestic product grew 6% in the fourth quarter, meaning economic growth slowed to 6.1% in 2019. While this is in line with expectations, it’s also the country’s weakest growth in nearly three decades.

The pair was near flat at 110.17.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Dollar Rides Bullish Housing Data Higher By Investing.com


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By Yasin Ebrahim

Invesing.com – The dollar advanced Friday as bullish housing data offset weaker labor data, adding to growing expectations that the U.S. economy will continue to expand.

The , which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.30% to 97.61.

The Commerce Department said rose 16.9% to a seasonally adjusted annual rate of 1.61 million units in December, well above economists’ estimates for 1.38 million and the biggest gain in 13 years.

The strong uptick in housing starts will lift forecasts for fourth-quarter residential investment, but is unlikely to be sustained, increasing the chances of a hefty correction in January is a good bet, Pantheon Macroeconomics said.

The report also highlighted a 3.9% decline in to a rate of 1.42 million units, short of estimates for 1.47 million.

The U.S. Labor Department’s latest (JOLTs) report, a measure of labor demand, showed job openings in November were 6.8 million, well below expectations for 7.23 million.

Sentiment on the economy was also supported by ongoing signs that the consumer remains in good shape.

The University of Michigan’s preliminary for January edged down to 99.1 from a seven-month high of 99.3 in December, data showed Friday.

fell 0.45% to $1.301 as disappointing retail sales data raised expectations that the Bank of England will cut rates at its next meeting.

fell 0.40% to $1.11 as bearish sentiment on the single currency continued ahead of the European Central Bank meeting next week.

was flat at Y110.14 as demand for safe-haven yen continued to fall amid a rally in equities.

rose 0.20% to C$1.31.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Forex – U.S. Dollar, CNY steady after trade deal By Investing.com


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By Cornelia Zou

Investing.com – The dollar and the remained steady a day after China and the U.S. signed a phase one trade deal aimed at easing tensions between the two largest economies in the world.

The signing of the deal on Wednesday, Jan. 15, in the U.S. helped equities markets and lent some stability to currencies.

The that tracks the greenback against a basket of other currencies was slightly lower, down 0.02% to 97.30 by 8:30 PM ET (01:30 GMT). The index has remained strong after falling at the beginning of the year.

The People’s Bank of China (PBOC) set the reference rate for the yuan at 6.8878 on Friday, compared to 6.8807 on Thursday. The pair was essentially flat, down 0.01% to 6.8759 on Friday morning.

China’s economy grew 6.1% through 2019, the lowest rate of growth since 1990, according to numbers released by the National Bureau of Statistics Friday morning. The growth rate is lower than market expectations of 6.2% but within the 6% to 6.5% the central government set in early 2019.

Growth in the fourth quarter was 6%, unchanged from the previous quarter.

The Friday data follows the release of monthly export and import numbers earlier in the week that showed exports rising in December for the first time in five months and import growth beating estimates. Exports from China rose 7.6% year on year in December while imports jumped 16.3%, the largest monthly jump in more than a year.

The yen continued to weaken against the greenback. The pair was up 0.04% to 110.19.

The pair was down 0.17% and the pair lost 0.08%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Dollar Calm; Focus on Emerging Central Banks By Investing.com


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Investing.com – The U.S. dollar is largely unchanged in European trade early Thursday, as a degree of calm prevails following the signing of the Sino-U.S. trade deal.

At 03:25 ET (0825 GMT), the traded at $1.1155, up 0.1%, while stood at $1.3046, up 0.1%. The traded at 110.05 yen, up 0.1%. The , which tracks the greenback against a basket of developed market currencies, was down 0.1% at 96.910.

That signing of the much-anticipated phase one trade agreement between the U.S. and China should draw a line under 18 months of tit-for-tat tariff hikes that have hurt global growth.

The signing should result in a calmer market in 2020 from at least one point of view, although underlying tensions between the U.S. on the hand and Europe and China on the other still remain.

“The U.S.-China deal implies that the amount of uncertainty related to trade war declines significantly in the short-term,” according to a research note from Tuuli Koivu at Nordea. “We assume that after having achieved the phase one trade deal with China, Trump will not take huge risks when running for president at the November elections.”

Looking elsewhere, the South African central bank holds its latest rate setting meeting at 8:00 AM ET (13:00 GMT). The bank is widely expected to hold its key repo rate unchanged at 6.5%. That said, the last meeting in November showed a split between the members, with three of the five members voting to hold, while two favored a cut.

Turkey’s central bank also meets Thursday to decide on interest rates, having slashed borrowing costs in half from 24 percent in July. Thirteen of 21 economists surveyed by Reuters predicted another rate cut, with six expecting the bank to lower interest rates by 100 basis points to 11 percent. Some analysts argue that that would leave Turkish real interest rates too low, given that inflation has rebounded to nearly 12% in the last couple of months.

At 03:25 AM ET (08:25 GMT), the traded at 14.3906 rand, and the at 5.8887 lira.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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U.S. Dollar Unmoved by Sino-U.S. Phase One Deal Signing By Investing.com


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By Alex Ho

Investing.com – The U.S. dollar was largely unchanged on Thursday in Asia following the conclusion of much-awaited Sino-U.S. one trade deal.

The U.S. and China completed the signing of the partial trade agreement at the White House overnight, putting the trade war between the two sides on a pause.

U.S. Vice President Mike Pence said further phase two talks had already begun as negotiators work to resolve differences.

Under the terms of the first deal, the U.S. reduced tariffs on $120 billion in Chinese goods to 7.5% from 15%. In exchange, China agreed to increase purchases in the U.S. by $200 billion over the next two years in manufactured goods, agriculture, energy and services.

The that tracks the greenback against a basket of other currencies was largely unmoved following the news, as the deal was already largely priced into the markets.

The index last traded at 96.959, down 0.01%.

Earlier in the day, the index fell after data showed inflation in the U.S. remained muted.

The Labor Department said its , which measures prices that businesses receive for their goods and services, slowed to a pace of 0.1%, below economists’ forecasts for 0.2% rise. In the 12 months through November, the PPI rose 1.3%, in line with forecasts of 1.2%.

Meanwhile, the pair inched up 0.1% to 1.3047, lifted by comments from Prime Minister Boris Johnson who said late Tuesday that he considers “very likely” the U.K. will get a “comprehensive trade deal with the EU by year-end.”

In a speech earlier, Bank of England policymaker Michael Saunders repeated his support for a rate cut to support an economy weakened by Brexit and other uncertainties.

The pair and the pair rose 0.1% and 0.3% respectively.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Dollar Trickles Lower as U.S., China Sign Trade Deal By Investing.com


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Invesing.com – The U.S. dollar fell Wednesday on data showing inflation remained muted, while the conclusion of the U.S.-China phase one trade deal had a muted impact on the greenback.

The , which measures the greenback against a trade-weighted basket of six major currencies, fell by 0.15% to 97.23.

The U.S. and China signed the first part of their long-awaited trade agreement on Wednesday. But with the deal largely priced into markets, the dollar was largely unmoved following a slide amid weaker wholesale inflation data.

The Labor Department said its , which measures prices that businesses receive for their goods and services, slowed to a pace of 0.1%, below economists’ forecasts for 0.2% rise. In the 12 months through November, the PPI rose 1.3%, in line with forecasts of 1.2%.

rose 0.09% to $1.303, even though the case for a Bank of England rate cut strengthened after the latest U.K. economic data showed the pace of inflation slipped to three-year lows.

“The market is considering the likelihood that the Jan. 30 (Bank of England) monetary policy meeting could bring a potential change in interest rate policy,” Rabobank said.

added 0.22% to $1.115 as softer eurozone industrial production data did little to ease worries about stuttering growth in the economic bloc.

slipped 0.13% to C$1.3043 as the loonie was pressured by a fall in on the heels of data showing a large build crude .

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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