FOREX-Dollar edges up ahead of potentially market-moving Trump trade speech
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Nov 12 - The dollar was stronger against the yen and Swiss franc on Tuesday as traders grew optimistic ahead of a speech by U.S. President Donald Trump, during which he is expected to again postpone imposing tariffs on European Union autos. Trump's speech to the Economic Club of New York is expected to be market-moving as he is scheduled to discuss U.S. trade policy. Currency traders will also be listening for hints about the Trump administration's long-running trade war with China, and any progress towards the "Phase one" trade deal. Versus a basket of currencies, the global dollar index rose 0.1%. The dollar strengthened against safe haven currencies: it was up 0.2% against both the Japanese yen and the Swiss franc in early London trading. The New Zealand dollar was down 0.5% at 0.6335 versus the U.S. dollar, only slightly recovered from the low of $0.6323 it reached last week after a central bank survey showed the country's near-term inflation expectations dropped, increasing traders' expectations of a rate cut this week. The dollar was boosted last week when comments from the Chinese trade ministry were interpreted as a sign of progress on rolling back China-U.S. tariffs, causing traders to dump safe-haven currencies like the yen.
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FOREX-Dollar eases off 2-month high as bets on big Fed rate cut fade
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Interesting facts. EUR/USD is one of the most traded currency pairs in the world. It represents the value of the US dollar per one euro. The euro is a relativity new currency when compared with the other majors, it was established by the provisions in the 1992 Maastricht Treaty and is managed by the European Central Bank (ECB) and the Eurosystem (comprised of the central banks of the eurozone). The forex market was a beneficiary as the sell-off worked to boost the US Dollar slightly as non-farm payroll numbers are eagerly awaited. Big Correction in Tech as Market Steps Back Thursday trading brought an end to the mammoth gains which had been seen particularly in the tech sector. FOREX-Dollar slides in flows-driven market; investors await U.S. debate Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. ... The US Dollar is the single most popular currency in ... The US Dollar Index, also known as DXY, is used by traders seeking a measure of the value of USD against a basket of currencies used by US trade partners.
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